“Hindi ko yan alam” or “Hindi ko naman yan maintindihan,” says the common people. In fact, this line is abused every time people are asked about savings, investments, assets and liabilities, and any other concepts related to it.
Unlike decades ago, information has become accessible, thereby making it easier for you to learn and understand certain concepts you didn’t learn in school. At present, you can simply type a term you don’t understand and the search engine will launch thousands of information about it.
Or, you can check out these free learning resources specifically designed for OFWs:
Personal Finance Blogs that Target OFWs
Blogs are popular these days. Instead of learning about the latest gadgets, why not fill your brain tank with concepts that will help you on how to better manage your money and finances in general.
There are many personal finance blogs written by former OFWs themselves, which you can learn from. Read about financial tips, extra income opportunities, investments, or even the struggles most Filipinos experience from working overseas. Balikbayad also offers tons of tips and strategies that you can find useful, so make sure you read the blog regularly.
Online Financial Communities
Groups are everywhere. One good thing about Internet is that it allows you to connect to people regardless of location. You also have the ability to form a group with other people with the same goal as your common denominator.
Thankfully, there are financial groups online that aims to help and educate OFWs about money matters. These groups also hold seminars and trainings about anything that involves money or financials. You, the OFW or any of your family member could attend.
Examples of OFW Financial Groups are Overseas Filipino Stock Investors, which focuses mainly on stock investment, and The Global Filipino Investors, which discusses all about money matters both in the Philippines and abroad. Join any of these groups to help you in understanding the financial world better.
Entrepreneurial Development Training from OWWA
The government supports every Filipino migrant worker because of your contribution to the country. In fact, they do so with the help of OWWA.
One of the services offered by OWWA is the Reintegration Program, popularly known as OWWA Loan. Before you can submit your loan application, you will be required to attend the Enhanced Entrepreneurial Development Training or EEDT. This training, in partnership with DTI, will discuss:
- How to start, manage, and sustain a business
- Financial and business management
- Preparation of business plan
- For agricultural ventures, hands-on experience in coordination with Department of Agrarian Reform or Department of Agriculture
- For non-agricultural business, management, technical, and networking skills with TESDA and DTI
The catch: you have to be an OWWA member, so make sure to pay your dues to enjoy this benefit. To learn more about EEDT, you can contact OWWA at 8917601-24 local 5516/5517
Why should you take time going through these resources?
The answer is simple: it will help you and keep you informed.
It is tempting to venture into a business or put your money in an investment that you believe could help you (only to realize that it won’t in the long run). Even if these are made accessible, you still need to educate yourself about certain concepts to help you make the best decision on how to grow your hard-earned money. The more informed you are, the better your decision-making and handling skills will be, so read up.