Being an overseas Filipino worker (OFW) means working to support your loved ones back home; however, it also means preparing for a future where you no longer need to leave them behind. Find out how you can earn by owning or investing in property. In this article, we’ve highlighted some of the common ways you can generate income through residential real estate.
Overseas Filipino workers endure the challenges of being far from their families to make a living, and there are people out there waiting to trick them into giving their hard-earned money away. To prevent falling into a fraudster’s trap, here are the 10 online scams OFWs should know.In the past, scams usually happened face to face, but now these crimes have found their way into the internet.
For overseas Filipino workers (OFWs) who plan on coming home one day, it’s important that they secure their financial future in the Philippines. They can do this by saving and practising proper financial management. But they’ll also need a way to grow their wealth. To do this, some OFWs choose to invest with their trusted banks, while other more enterprising Filipinos add to their savings and investments by opening their own businesses.
Insurance is a form of financial protection from unexpected life events. Instead of footing the whole bill for repairs, legal fees, medical procedures, or loss, insurance covers a portion of the cost and saves you from taking a chunk out of your savings during emergencies.
Inflation is when the cost of what you buy goes up over time while the value of your money goes down. For example, while buying groceries, you notice you’ve been spending more money on the same items you bought last year. At the same time, movies, food deliveries, and clothes have become more expensive, so there have been fewer nights out than before.
When thinking about the future, it’s always good to have some savings set aside for emergencies, goals, and needs. The Philippine Social Security System (SSS) and the SSS PESO Fund will help your money grow ready for when you need it.