Our Overseas Filipino Workers are called modern day heroes for a good reason. They are admired for their determination to give their families a better life, even if it means they need to save and sacrifice for a long time.

However, working overseas does not mean that you need to work overseas for the rest of your life. There are smart ways on how you can be smart with your money.

Set a Goal

Plan where your money will go. Do you want to buy a new house or are you sending your children to college in the next few years?

After you set a goal, you can budget your income accordingly. If you don’t budget your income, you will end up just setting aside some money for savings when you have extra cash. A deadline ensures that you have enough money regularly in case of emergency as well.

Let Your Family Know

Let your family know how much you will be able to send. A lot of rifts and bad blood happen between families because of money. Some OFWs just send money just enough for necessities. If you are able to inform your money how much they will receive, they can budget their money wisely and will not be spending too much on luho.

Don’t feel guilty or feel bad when you are not sending more money every time they ask for it. Learn how to say no and train your family to be more cautious when it comes to money.

Don’t Spend Too Much in Balikbayan Boxes

Filipinos are known for being generous and that is why they love to bring gifts when they go back home. However, a Balikbayan Box should not be your priority.

Earning and saving for your family is far more important. Do not spend too much money in buying pasalubongs. Instead of putting it in boxes, save this money for future use.

The Value of Money

This is the most important step. As OFW, you should teach your family the value of earning and saving money. Let them know how hard it is for working and saving money. That way, they will be more thrifty and more careful in spending the cash you are sending.

Money is hard to earn, especially if you are in another country. The conception that working overseas can give you more money should be broken. Instead of encouraging your family to buy more, let them know that saving money is far more important.