Why Financial Literacy For OFWs and Migrant Filipinos is Important

Share

Many OFWs and migrant Filipinos had tried their luck in foreign lands to provide for their family. OFWs have to sacrifice occasions and years of not seeing their children grown in exchange for a good and stable financial status.

OFWs and migrant Filipinos have only one goal in mind when choosing to be away from their loved ones, to be able to provide a sound financial position. The greatest tragedy an OFW and migrant Filipinos can face is coming home broke without providing for the medical and other basic needs of an aging retiree. 

OFWs and migrant Filipinos weren’t able to attain their goals even after a long period of working away from home because of some factors they ignored. Initially, most OFWs and migrant Filipinos only plan 3-5 years of working abroad to save a good amount of money for capital to start their business.

Unfortunately, these OFWs and migrant Filipinos extend their time working abroad, thinking of spending another five years short to save more money. 

 

Factors affecting why OFWs and migrant Filipinos stay longer abroad