5 Crazy but Effective Ideas to Save Extra Money as an OFW

Raise your hand if you want to save more money.

Let’s face it: no matter how much you try, you always end up sending a big chunk of your money back home instead of setting some aside for savings. Your family needs it more than you do. Besides, you can always save the following month, which you weren’t able to do as well because of the never-ending expenses in the Philippines.

What can you do to save extra money and leave some for yourself? These ideas might sound crazy but trust us, this works:

1. Walk (as much as you can). 

Whether it’s on your way to work or home, going to the market or grocery, visiting a friend, or going to the Church every Sunday, consider walking especially if the distance is not too far. Even if you take the bus or train, it would still entail costs; hence additional expense for you. Therefore, walk as much as you can.

The best part: you get to exercise as well.

2. Share your living space. 

Some Filipino migrant workers has designated living quarters in the company they are working with. If none is provided, then you have to look for an apartment that you can rent.

Apparently, housing expenses can be expensive. To be able to save on rent, consider sharing a space with fellow Filipinos to divide the expenses. You can also consider sharing other expenses at home like electricity, water, or Internet connection. Come up with an arrangement that is agreeable to everyone. This way, you get to live harmoniously.

3. Cook at home.

Eating out can be tempting, especially if you are tired from work and too lazy to cook. As enticing as it sounds, eating out can take a toll in your budget.

What you can do is to start a Menu Plan for the entire week, buy fresh food from the grocery or market, and then cook at home. Consider cooking in big batches and store them in the freezer so you don’t have to think about what to eat when you get home. You can also have the food for your baon at work the following day. When you do this, you can not only save more but also be sure of what you eat.

4. Take advantage of free apps for communication. 

Gone are the days when OFWs utilize overseas call to talk to their loved ones. Today, you can take advantage of the Internet by downloading apps like Viber or WeChat that allows you to talk to your family in the Philippines for FREE. Even Facebook messenger offers video call, which any of the family can readily answer because of the popularity of this social media tool.

Now that’s an affordable way to connect to your family even if you’re miles away.

5. Use cash for your purchases. 

Getting a credit card can be exciting and tempting at the same time. If you happen to have one, keep it and don’t use it. There is always a tendency to treat it as an extension of your money, which is not a good mindset.

When paying for purchases, make it habit to use cash. You are saved from paying interest or be charged with penalty fee in case of delay in the payment. Plus, you don’t need that plastic card in your life.

Are you ready to boost your savings?