Finance Tips of an OFW Nurse from UAE - Marvin Germo

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Finance Tips of an OFW Nurse from UAE

By: Marvin Germo | February 24, 2015

Sharing the story of Jermain Poncardas, an Overseas Filipino I met through our Stock Smarts conference last year. He is working as a hardworking nurse in UAE, toiling and giving his best to provide a great future for his family and to give pride to our nation.

His story is not just about him moving from consumer to investor but rather a story of how he went against the trend of spending.  He is a great example of how Filipinos overseas can delay gratification early to be able to prepare and save up for the future.  It is my desire to see more Filipinos overseas save and walk toward financial freedom!  May this be a start of more OFWS saving and investing their way to financial freedom!

Check out Jermain Poncardas’ story and his’ tips on how you can delay gratification!


When I met my wife 3 and half years ago, she was still my friend but I knew in my heart that she would be my better half in the later days. God truly works in wonderful ways and He grants the desires of our heart!

We were both single back then. But we spent a lot of money during our free time. We would go out. Take our coffee in local pubs, watch movies and give gifts to each other. In short we are spending a lot to gratify ourselves.

Time flew so fast, we got engaged, we got hitched and were now planning to have kids soon. We realized that we needed to prepare ourselves to be in control with our finances. Earning big as an OFW is not a guarantee. Big income will not make you financially free. But financial literacy will guarantee that. It is process and needs a lot of discipline. We realized we need to delay our immediate gratification as one strategy to save more. More ‘tipid’ thinking means more funds. More funds means more money to invest in our country through stock market investing and other investment vehicles.

So, we thought of sharing this few tips that we did to guide our fellow OFW aiming to be more financially free by controlling their immediate gratifications:

Weekend & weekday dates

Before, we usually go to malls every time we go on dates. Eat out on a restaurant, watch movies, buy watch, bags, shoes and gadgets.  Now we are spending more of our weekend and weekday dates at home. We avoid malls as much as we can. In this way. We avoid restaurants. We also avoid stores that we usually visit and get tempted in buying stuffs. Instead we become creative. We download movies and watch at home with our family. We cook food and learn more on cooking. In the process, we save a lot of bucks from expensive resto’s. We spend more time also in reading financial books, investing and self- improvement books.

JErmain 3

Holiday Celebrations

During the holidays, Christmas, New year, Valentines, Eid (for Muslim kababayans), Halloweens etc. We usually buy clothes, gather our friends and have party either in party halls, favorite restaurant, disco houses or even at home. We buy stuff related to the event- balloons, cakes, fire crackers, drinks snacks and even bringing a whole band to play music for us. Not to mention the gifts that we need to give and get.

Today we usually make it very simple. We usually celebrate at home. Have fewer food items to prepare. We use our old clothes that still looks nice. We make personalized gifts out from what we have in the home and create something new to give out- gifts costless & creating value. Notice how your creativity will bring you and cut big chunks of your expense to add up to savings. That excess cash we get, we use to build up our path to financial freedom, building emergency funds & investing the rest.

Back track my bills, back track my old Stuffs

Try to check on your monthly bills. Track them down and remove some expenses that you don’t need. Examples are: Cellphone prepaid or post paid plans– if you have wifi at home try to get a cheaper prepaid or postpaid plans and make the most of your paid internet at home. When your away from home, avoid or minimize data use, take advantage of unlimited sms or calls where you are residing. Gym membership fees– if you are not that frequent in the gym and still paying for it, better to end it and be m


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