Last 2013, my brother left the Philippines to search for a greener pasture in the land of the desert(Middle East). Aside from the opportunity of earning little bit more, he wants to explore different places, want to experience different adventures, discover what life has to offer for him and work his way to financial freedom.
But before he leaves, as his older brother, I gave him some advice how to properly handle his finances and promised to guide him while he’s there.
Almost 2 years passed, I’m proud and happy to say that he’s doing good. He has his savings, some emergency fund, bought a small vacant land in our province, bought and investing in livestock in our province (cows or cattle), spending a little for entertainment and leisure and boy he’s investing in the stock market too! Boom!
I’m proud of what he’s doing and what he has achieved for that short period of time. I’m sure he will achieve more moving forward. Sad to say many OFWs are not doing the same.
More are struggling even they are working more years abroad and are earning more. I knew people and have OFW friends working abroad but no savings and emergency fund at all. Sad but true!
Please take note that my brother is a security guard who is working as a cctv operator. He’s not earning big. He manage to achieved those things I shared by pure discipline and dedication. And probably ‘coz of a little guidance and advice from me. I’m managing his stock investments by the way.
He just sent the money here and I deposit/transfer them to his COL account and invest. We’re doing peso-cost averaging without looking at the market condition. That’s for his long term goal. Long term as in 10 years or more. 🙂
By reading personal finance blog like these, personal finance related books, watching videos(pesos and sense and others) and joining personal finance facebook group (TGFI) he seems to be learning allot. And of course, applying those lessons brought him awesome results.
Imagine how powerful basic financial literacy is. An OFW for just almost 2 years able to achieved those things with just basic personal finance tips and guidance. I’m so happy for him.
Right now, he’s thinking to come home for good after another 6 months or a year. He’s planning to buy a jeepney and run it as a business. He loves driving and cars by the way. He’s also planning to start other small business here when he came back while looking for available job he loves.
And hopefully, to start his own family. I love to hear his plans and love to see them coming true in reality in the coming future. I will continue to guide and support him all the way.
What’s in it for you?
This maybe a personal story but somehow and I’m hoping that you’ll be inspired by what I shared. Especially if you’re working abroad too, away from your family. If you’re an OFW and doing the same, that’s good! I’m happy for you too. Continue what you’re doing and continue learning more.
Time will come, you’ll be able to achieve all your goals and come home for good and be with your family again.
But if you’re an OFW the other way around, it’s not too late to start a new path and take charge of your personal finance life.
Again it’s not too late! It maybe hard to start but that’s what it is. It maybe difficult to change your lifestyle or habit but if you really mean it, no way can stop you from doing it.
It will really take time and full effort upfront but I’m telling you, future rewards are awesome and over-flowing.
Ok, so now you realized you want to change. Where and how do you start?
How can you start your way to financial freedom?
Start within yourself. Analyze and check what and where you need to improve. Set smart financial goals and work on them one by one.
Read personal finance related books, blogs, watch videos and attend seminars if possible. Apply all the applicable lessons in your life.
Start small. Take one step at a time. Remain focused and be consistent. Invest in yourself first!
Take note that I am not a financial expert or guru, in fact I’m a beginner too. I’m working in the I.T field(as a Network Administrator) and not in financial world.
But we know that everyone needs financial literacy, right? Me and my wife are also on our way to financial freedom.
I just learned all these things from financial related books and blogs I read, videos I watched and seminars attended.
And that’s what I’m sharing to my family and on this blog. I invest in myself. You should do the same.
That’s the best investment of all time.
To our success, cheers!