How to succeed as an OFW (Overseas Filipino Workers)
There are many Overseas Filipino Workers who work abroad for many
years but are not successful and no investments were acquired by the
time that they have already retired.
The worst situation is that there are some OFWs who have been in
an accident overseas which prevented them from working again. Regardless
of working in or outside the Philippines, Filipino worker should know
how to value his labor and sacrifices while aiming for his dreams.
The following tips are worth reading that will serve as guides for
typical Overseas Filipino Workers. Information given is based on my
own experiences and from the experiences of other fellow Overseas
Filipino Workers.
1. Do not spend too much of your income. Not because you are earning
big now and you have extra money, you are going to spend too much
for your vices and unnecessary things. Some Filipinos who are only
on a temporary working visa are buying luxury and brand new cars which
I think is not necessary. If your earnings are high, it should be
okay but I know some Overseas Filipino Workers who buy expensive and
brand new cars but do not have any investment on important properties
yet. They could not even eat proper meals anymore as luxury is more
important to them. They are not thinking that their job abroad is
just temporary, anytime they can be sent back home if some unpleasant
situation happened such as war, bankruptcy, slow economy or as I have
mentioned above, when they become paralyzed and couldn’t work
anymore after an accident.
2. Always keep some income for savings. Save some of your income
in Philippine banks as well as banks in the country where you work.
And because you will stay abroad for about two years or more, it’s
better that you’ll keep your money in a term of savings where
you can earn more interest such as Time Deposit or Funds. Some Philippine
banks offer special savings program for Overseas Filipino Workers
and their beneficiaries.
3. Obtain pension plans for retirement, savings fund, children's
educational plan, health insurance or life insurance. Get more if
you can, although you already have the OWWA Benefits or Social Security
Insurance (SSS) or Pag-Ibig, it is also better to get another one
from private insurance company.
It is not always safe to work anywhere, you will never know if you
can have an accident in the future that will prevent you to engage
in any kind of jobs again. Having some insurance is always a big help.
4. Once you start receiving your salary and suppose you have no debts
to pay anymore, make sure you would invest in a property first. If
you will buy some property, its’ value does not go down; it's
always accumulating or increasing every year. House and Lot or Lot
is the best investment of all.
5. If you want to build a house, unless you already got many houses,
it is better to build an apartment first to have some additional income.
Your wife/husband is in Philippines can take care of your property
in case you want them to be a commercial or residential apartment
for rent.
If you are earning from the rental of your apartment, you may now
save your income and with some additional money from the last few
years of working abroad, you can build a new house again for your
family.
6. Do not give so much allowance to your beneficiaries that could
only make them spend your remittance for unnecessary things as well.
You should let them know how hard it is to work in a foreign land
and earn that money that you are sending for them. You should let
them know how to spend wisely as well.
Do not stay quiet or ashamed to tell and explain how hard it is to
work as Overseas Filipino Workers abroad to your family. If they do
not know about your real situation, they would just think that you
are just "collecting" money while you're walking on the
road. So, they would just spend your remittance on things that are
unnecessary.
7. If you cannot bring your family while you are working abroad and
your vacation is not yet due, why not try bringing them to your country
of work. Sometimes, you need to spend a little to maintain the relationship
and bonding of your family.
8. If you are on vacation, do not spend all your savings thinking
that you still have a job in abroad upon returning there. It is not
always like that. I have someone that I knew, who had bought brand
new car, spent most of his savings while on vacation but by the time
that this fellow overseas Filipino worker is now going back to work
abroad, his employer's company suddenly closed. He did not know that
the company was already failing and facing bankruptcy.
9. Rather than spending too much of your savings on less important
things, just improve your skills. You will never know that your current
job will still be on demand after one or two years. You should try
to be knowledgeable of other types of skills and profession.
If you are a carpenter, acquire some skills that could help you to
become a contractor just in case you want to have your own business
and would like to get your own carpenter to do the jobs.
10. Do not start your own business if you do not have any idea about
the business. Do not just listen with other people’s suggestions,
think about it. It is not because having an Internet Cafe is one of
the good businesses these days, you will engage yourself with that
same business even you do not know anything about computers.
If you have an experience in carpentry jobs, start business that
is related to carpentry such as cabinet making, construction materials
retail, painting etc. Do not engage in other kinds of business unless
you have also experienced it before. This is not the proper way to
do business. Put up a business that you are familiar with and that
you most love to do.
Tips and advice above are just guide and suggestions for Filipino
Workers. It's still up to the person if he/she would like to follow
other people's suggestions. Not anything that had happened to you
is other people's responsibility it's your own responsibility...
VBB / OFW-C.com Author
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