Why living luxuriously can be bad for your future?
For the typical Filipino worker, finding a job is difficult unless you have the education and training to fit the job, otherwise, you will end up waiting for months or even years to actually find a job.
Filipinos often fall to the one-day-millionaire syndrome, meaning, when they got a chunk of money either from their salary or other sources, they tend to spend it for leisure, partying, shopping and other things for their enjoyment without thinking that they need to save for their future.
Luxurious spending can harm both your wallet and your future.
We gathered 10 reasons on how to determine if you are living luxuriously for you to be aware of it and avoid it for your own good.
For the typical Filipino worker, finding a job is difficult unless you have the education and training to fit the job, otherwise, you will end up waiting for months or even years to actually find a job.
Filipinos often fall to the one-day-millionaire syndrome, meaning, when they got a chunk of money either from their salary or other sources, they tend to spend it for leisure, partying, shopping and other things for their enjoyment without thinking that they need to save for their future.
Luxurious spending can harm both your wallet and your future.
We gathered 10 reasons on how to determine if you are living luxuriously for you to be aware of it and avoid it for your own good.
2. You are fond of buying branded stuffs like clothes, shoes etc. just to be "in" or look "cool".
3.You are struggling with your daily expenses and yet still indulge yourself to partying for more than once in a week.
4.Buying gadgets and things that you don't really need especially things that the value easily deteriorate.
5.You are always choose cozy and expensive restaurants so that you can post a new "foodporn" photos on social media that people may actually think that you are rich, without having any savings.
6.You travel a lot to the extent that you spend all of your money even your emergency funds just to make that tour. You value travelling more than saving.
7. Your every celebration needs to look like a feast everytime even if it means you'll be plunging into neck-deep debt.
8.False generosity. You always show-off, throwing a party, sponsoring a drink or dinner with friends and spending all your savings while doing it.
9. Saving for the future is not on your vocabulary. You do not bother yourself in finding ways to save money.
10. You are financially illiterate. All you know is that money is made for spending. So little that you know that the money you started to save now could save you in the future.
It is never too late to start. You can begin with saving small amounts in your piggy bank and eventually moving it into a bank account. You can later put it in an investment or a mutual fund. Get yourself a health insurance or pay your social security contributions. When you retire, you can actually use the money you saved for putting up a business to sustain you when nobody else will.
You are not growing any younger. Act now and avoid regretting all the time and money you have wasted along the way.
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Every OFWs reason why they decided to work abroad is to give their family a better future. Regardless of the hardships they are about to endure overseas, they made themselves ready for any possibilities.For singles, it will be a lot easier to work abroad, no kids to cry on your departure, no marriage to suffer due to communication issues.A tragic story happened to Pablito Gragasin, an OFW from Saudi Arabia. He left his family to work overseas with hope to give his family a better future. To earn extra income, his wife accepts borders. That's where the problem started.
Working overseas has its toll. Many Filipinos work abroad for attractive salaries that they believe, would make them able to give their families back home a better future and an adequate living condition. The truth is, money is not everything. You can earn a lot, yes, but how about your relationship with your spouse? Your kids? Your presence means more to your family that the money or things you send. there will be nothing more valuable than the time you spend together as a whole family.Cases of infidelity happen while the other is working abroad, wives having an affair with another man, and vice versa. In some cases, the other parent abuses their children while the other is working overseas. In case that the OFW left their children in the custody of a guardian, abuses also happen to them without the knowledge of the OFW.
Working overseas has its toll. Many Filipinos work abroad for attractive salaries that they believe, would make them able to give their families back home a better future and an adequate living condition. The truth is, money is not everything. You can earn a lot, yes, but how about your relationship with your spouse? Your kids? Your presence means more to your family that the money or things you send. there will be nothing more valuable than the time you spend together as a whole family.Cases of infidelity happen while the other is working abroad, wives having an affair with another man, and vice versa. In some cases, the other parent abuses their children while the other is working overseas. In case that the OFW left their children in the custody of a guardian, abuses also happen to them without the knowledge of the OFW.
- Income tax exemption from income arising from the operations of the enterprise;
- Exemption from the coverage of the Minimum Wage Law (BMBE 1) 2) 3) 2 employees will still receive the same social security and health care benefits as other employees);
- Priority to a special credit window set up specifically for the financing requirements of BMBEs; and
- Technology transfer, production and management training, and marketing assistance programs for BMBE beneficiaries.
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