Money Problems of OFWs
One of the reasons why most of the Overseas Filipino Workers (OFWs) could not save money is financial illiteracy. Our educational system and our culture do not teach us to be entrepreneurs. Our educational system and curriculum is designed to prepare us to join the overseas workforce. Our parents on the other hand believes that being gainfully employed is better than becoming an entrepreneur. Because of that, most of the OFWs are living from paycheck to paycheck without the prospect of seeing the light at the end of the tunnel.
Financial literacy is very important and must be added to the Pre-departure Orientation (PDOS) conducted by the POEA. It is very important that every OFW should be educated on how to spend their money wisely. Most of the OFWs I know are in debt. Some because of their irresponsible families back home, some because of unwise spending, the others are because of plain stupidity when it comes to money.
One of the most notable traits that I gathered from my fellow OFWs are their hero complex. As OFWs they take on all the financial responsibilities for their families. I am not saying that it’s bad but this should be balanced. We could not solve all our monetary problems ourselves. Our respective families should also lend a helping hand. One downside of the Filipino culture is that since there’s somebody in the family who works abroad, they will rely heavily on the person who works abroad for all their financial issues. They wouldn’t even think of other alternative solutions to the problem and would right away contact their OFW relative to solve everything for them.
In some instances, this generosity is being abused by the relatives back home. While the OFW is working 24/7, the ones receiving money are enjoying their lives through parties, shopping and eating out at Jollibee. Not once did they ever thought of how difficult the money that they’re spending was earned.
I believe that for an OFW to solve his monetary problem he/she needs to diagnose the root cause of his/her problem. There’s no one size fits all solutions for these problems. Each individual has to have a tailor made solutions. Also, the OFWs themselves should be able to recognize abuses when they’re being subjected to it. Sending all your income to your families back home will never be enough and will never be a solution. In fact, it’ll only exacerbate the problem.