Here are some tips that families of OFWs can use to save for any eventuality. Yes, saving money is a lot easier said than done. But it is only a matter of discipline. Following these tips ensure survival of OFW families when things get tough.
Put Your Mind to Saving and Convince Everyone in the Family to Do the Same
It’s about positive thinking. Convince yourself that you can do it. You need to make a firm decision to save and make your family understand about the seriousness of the matter. All members of the family should be one in making the decision to save.
Don’t Live Above Your Means
This is about lifestyle choice. After receiving their remittance from abroad, many OFW families immediately buy expensive gadgets, appliances and jewelry that are not actually necessary. But when you come to think of it, these things are just for show off.
Invest Your Money
Think of a way of how to make your money grow. You can open a savings account, or you can engage in stock trading, the options are limitless. You can even start your own business. But all these things need careful planning and preparation.
Trim down Your Expenses to what’s Basic and Necessary
Make a list of daily expenses at home. Include the expenses for kids’ schooling, the bills and mortgages, and the amount you decided to save every month. And stick to this list. Follow the list to the letter. If there are expenses that are not on the list, it must only be for emergency purposes.
These are just few of the important tips that every OFW family should strictly follow so the efforts of their loved ones working abroad are not wasted. ( Pinoy-ofw )
