13 October 2011


OFW: Ways to Financial Security

 I have posted a couple of articles about financial security in this blog. These are actually based on my personal understanding. Just like majority of the OFWs’ I for one have been trying to keep my financial knowledge enhanced. 

To do this, I keep reading books authored by prominent Filipino financial guru. Francisco Colayco and Bo Sanchez were the two bestselling author.  I do recommend OFWs’ to buy books authored by these two gentlemen. They are not only professionals in their field but they were also advocates for OFWs’ financial security and growth.

I will tell you honestly, I never consider my self being financially secured at the moment. Though I keep my finances healthy as I could be but still this dwindle sometimes due to some unavoidable circumstances. To keep me fully aware of any personal financial breakdown I read books that of substantial help.

Francisco J. Colayco’s book “ Pisobilities: Gabay sa Buhay Pinansyal”  has been a good tool to augment our knowledge about personal financial security.  I remember from a forum, a certain guy told me that OFWs’ are good prospects for any business transaction because they have the ability to lay down money at any given moment. Well, this is so true. But if an OFW doesn’t know how to manage his earnings all that hard earned money will just simply slip away and he might be left empty handed.

These are the points which I find very interesting from Mr. Colayco’s book a guide to financial life.

1.     Make a plan. – Study on how to make abundance.
2.     Budget- make strategy on how to wisely utilize your hard earned money
3.  Save- discover ways on how to effectively secure and  leverage your earnings
4.     Invest- Know all legitimate ways to invest to make your savings grow.

As I have read his book, I find it simple to understand that in order for us to gain financial security we have to choose our own lifestyle. Lifestyle that is simple as much as possible. I know, this might be very difficult to most OFWs but if we are just to discipline ourselves, then perhaps we might get what we wanted, financial freedom.

Buying items that are not necessary or just to buy techs and gadgets of what is latest will certainly drain our wallet. Buy things that are necessary and purchase what is enough. Save and save as much as you can be, it’s like keeping all the best for the rainy season.

Saving and having financial security is everyone’s responsibility. We just don’t dream of this but we have to work for this. We should remember, we work overseas with one purpose and that is to give our family back home financial security.

We can do this; let keep this as our goal coupled with discipline and inspiration, we can certainly give ourselves and our family a gift we all deserve, Financial Freedom!

Source of information.
Pisobilities book authored by Francisco J. Colayco 

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