If only I am working abroad, for sure I’ll be rich in no time!
Have you heard this line? Maybe from your friend or colleague saying “if they only have the opportunity to work abroad and be an OFW, for sure their lives will change and they’ll be rich?”
I’ve met people who earn P100,000 , P200,000+ or more a month —and they spend everything. (Yes, those earnings are chicken feet if you are an OFW)
That’s why their money pump remains dry and they’re too afraid to loose their jobs from working abroad because they have no savings. Many are unprepared and will be back to zero upon returning to Philippines (you can also read my previose article OFW Engineer terminated from work ,Are you prepared to return to Pinas?)
Maybe you’ll ask. How is that possible they don’t have savings when they are earning hundred thousand pesos monthly?
You see, It really doesn’t matter how much people earn. What matters is how much they save and invest.
If you don’t know how to properly manage money while it is small, then you won’t be able to properly manage it when you have more.
A lot of Lotto winners for example eventually go back to being poor. I read this headline “Lotto Winner Spends P14M In Just 3 Months” years ago. He not only zeroed out his money but also has huge debt, was poorer than ever and now he’s also sick.
He did not know how to manage all those millions and it magnified who he truly is.
You see money only magnifies who you are. So, if you’re a kind and generous person, if you were to accumulate a lot more money, you’ll become even kinder and more generous with everyone in your sphere of influence. On the other hand, if you’re a closed-minded person who’s negative and pushy, you’ll become a person that nobody will want to be around.
We need to learn financial literacy while its not yet too late. Investment is a crazy decision, but you have to do it if you want to have a good future and even a good present.
Friend, you have money now. It may be small but you have it. Almost everyone can invest in Paper Assets (Stocks, Mutual Funds, Unit Investment Trust Funds or UITF)
You have a choice.
Will you simply consume your little money?
Or you will save and invest and make your money work for you? Sow in the time of Famine. Delay gratification and think ahead so you can come back to the Philippines for good and be with your loved ones.
If you want to know how an OFW can turn to an Investor then subscribe now to my blog Super OFW Investor and feel free to share and comment below.