One of the biggest desires of every OFW is to be together with their family. No Father wants to be apart from his children in the same manner that no husband wants to be away from the loving arms of his wife. That is why I am so passionate about helping OFW’s learn the basics on how they can save and invest for the future. Because I really believe that with the right planning and investing every OFW can be home with their families. And what a great testament would it be when it comes to a point where they have saved and invested enough that they would be able to comeback and live comfortably in the Philippines by the investments that they have accumulated.
This is a continuation of the hit article: 7 Reasons why a wife, wants her OFW Husband Home. This time, Carmi Cristobal, a mom and wife of an OFW working in Saudi shares her tips on what she is doing to pave the way for her husband to eventually come home. I hope this article serves as a blessing to you as I my greatest desire is to see more OFWs financially free. This can be done and we can see a financially free generation of Filipinos filled with savers and investors.
(Carmi and her OFW husband Tristan)
In my previous article, I have talked about the seven (7) reasons why I want my husband back home. And I received a lot of feedback from several OFW wives upon posting that article, one was telling me she realized how blessed they are because they are together even though they are away from home, another would tell me that she can relate with every single word I said, and another would tell me that I should keep inspiring people that even though we are challenged by distance, we keep the love burning. Having to hear those comments made me feel I am loved even more. That I am on this situation because this is my purpose, to give light to every OFW family, that even though we may be challenged – we still find ways to make it work.
And to make this happen, below are the 7 practical tips on how I think I can help to make my husband come back home.
1. We both assess the needs versus wants and separate them. I think this is basic, many OFW’s would go abroad to provide for their family not knowing at the end of the day they are providing for majority of wants rather than needs. Sad but true, sometimes we think that what we want is something we need every day i.e. expensive gadgets, branded clothes and shoes, and additional car. Sometimes, extended families are being financed. This is not a mortal sin to have these wants as along as we can support this without a family member going away.
2. We both educate ourselves on financial literacy. The very reason why my husband is an OFW is because of the increasing demands on our finances in all aspects. So, if we educate ourselves on where and how to put our hard earned money, then I think this will help us determine if it’s time to go home. There are a lot of active forums and seminars that are out there for us to check out; it is just a matter of making time to do so. And some are FREE, so grab it!
3. We both save and maintain an emergency fund, ideally 6 months’ worth of monthly expenses. This is very important, since emergencies are unexpected and typically can consume all your savings in one day (ouch that hurts!), then we better build this as early as we can. We are on our way to get this fund intact, almost there.
4. We both save and insure ourselves. Knowing how hard it is to earn money, we better pay ourselves too and make sure we are protected if anything happens. We both lived in a family that has strong ties with each other, and our parents are already dependent on us at this point, which we don’t really mind because we have always loved them and we won’t be here without them. So this protection is necessary so that our loved ones can be protected too.
5. We save for our retirement. We dream of retiring while we still can travel the world and enjoy with our physical and mental health at its peak. We don’t want to travel New York or Europe with a wheel chair on and a medicine in the bag. We don’t want our children to worry about us if we have some money on our pocket to buy a bottle of wine. We are not limited to just staying on one of our children’s house because we own one, and we can visit all of them anytime we want (and spoil our grandchildren – it’s payback time!). We want financial freedom to do this.
6. We save for our children’s education. We always tell people that education is our best inheritance to our children, so we are saving up as early as now. We don’t wait for enrolment to come before we have the money to spend. We don’t want our children coming home without a book to study because we can’t buy them one. We wanted the best and quality education for them, which means we support the cost of study but they take care of making it to the scholarship, so we don’t spend much and save some more wohoo! That’s real good news for mommy and daddy.
7. Lastly, Always pay back to where it all came from. It is an honor to share and give back to God. I will share my favorite bible verse that explains it all. Malachi 3:10 “Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it.”
Here’s my family, we are spending time together in Palawan for our annual vacation.
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