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Wednesday, April 19, 2017

Tips for OFWs Who Wants to Return Home Earlier


Working abroad is not easy and no Overseas Filipino Workers wants to work abroad for the rest of their lives. Of course, no one wants to be separated with their family and loved ones for a very long time.  Every OFW has a goal to be home for good for the shortest time as possible.  According to Vince Rapisura, president of the Social Enterprise Development Partnership in Rappler's Article, OFWs should make a goal to come back home after a minimum of 10 years.


Working abroad is not easy and no Overseas Filipino Workers wants to work abroad for the rest of their lives. Of course, no one wants to be separated with their family and loved ones for a very long time.

Every OFW has a goal to be home for good for the shortest time as possible.

According to Vince Rapisura, president of the Social Enterprise Development Partnership in Rappler's Article, OFWs should make a goal to come back home after a minimum of 10 years.


If you are an OFW who wants to come back to the Philippines in the span of 10 years in working abroad. You might try this three stages of migration process according to Rapisura.

1. The Beginning State

This is the first two years of working abroad. In these years, as OFW you should work on paying off your debts you get to be able to work abroad. For example the money you loan for your plane ticket, processing fees, and others.

2. The Medium Term

Two to three years. During this term, OFW should focus to provide the basic needs of his or her family.

3. The Long Term

Three to five years or the OFW's last year of working. The money you have earned within this year should spend for financial goals. For example, buying a house for a family or open a small business for new income.

Rapisura said, as an OFW you should not wait for 10 years to achieved your financial goal if you can make it earlier.

(Watch:Pesos And Sense Explains: Tips on Saving (OFW)




Here are some tips for OFWs who wants to return home earlier
1. Before going abroad, OFW should set a clear financial goal before leaving.

It means, before flying to other countries for work, it is vital that you and your family understand why you have to leave and what are you trying to achieve.

2. When working abroad. Stick with your goals.

"When they go there, initially they say, 'I only want a tricycle as a business,' and send my children to school.' After 5 years and they've already attained that, the goal would shift somewhere else. Maybe the tricycle is now a jeepney, and sending the children to school is finished and now they want to put up a house," Rapisura explained.

Changing goals is not necessarily a bad thing, but having no definite end-goal contributes to OFWs overstaying abroad.

3. Teach your family to be independent

Rapisura said it is important that the families of OFW understand that reaching financial goals is not the OFW’s burden alone.

The family who left behind should find another source of income and not only depend on remittances of OFWs. Family income at home should be able to cover the needs and expenses of the household.

OFWs income will fund the ultimate financial goals like building a house, opening a business or sending kids to school. By doing so, families not only get to reach their financial goals faster but are also able to maintain their lifestyle.  With this, you are helping the OFWs to achieve his goal to come home earlier as expected.

According to Rapisura, many OFWs fail to save because their families suddenly change their lifestyle, ultimately increasing expenses. This happens when the OFW provides them with more than they actually need.

(Watch:ANC On The Money: Money Management for OFWs)

4. Budgeting your money

Only one out of five OFWs has enough savings for emergency despite the claims of OFWs that they actually saved.

Rapisura explained that while OFWs do budgeting, they are just focused mainly on immediate consumption, not on investments or other financial goals.

Rapisura suggest that OFWs should follow the 5-15-20-60 budgeting rule;

  • 5% of the income going to insurance premium
  • 15% to savings
  • 20% to investment
  • 60% to expenses
We all know that budgeting is hard, but as OFWs, we need to do it so that we can spend time with our families and not to grow old in foreign countries. If OFWs can do budgeting effectively, it is not impossible to reach our financial goal faster to return home for good.



As a Filipino that works abroad or OFW, how long would you like to work in other country and be away from your family? Do you have a goal to be able to come back in the Philippines for good, let us say, after 10 years of working?

Read more: http://www.jbsolis.com/2017/03/5-money-tips-for-ofws-5-guidelines-on-borrowing-money.html#ixzz4eTnU45Sa

READ MORE: OFWs told "borrow money in the Philippines to avoid jail abroad"

Many people think that Overseas Filipino Workers (OFWs) has a lot of money since they are working abroad. But the truth is some of them are also in debt while abroad and worse, sent to jail due to unpaid debt.

Read more: http://www.jbsolis.com/2017/02/ofws-told-borrow-money-in-philippines.html#ixzz4eToFuXZ6

READ MORE:15 Admirable Single Storey House Design with Plans


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