SAYANG!!! This was the word I kept telling myself and my friend by the time I have stumbled on the words FINANCIAL LITERACY. You know why? If only I have met these words earlier in my life as a local employee and as an OFW and have followed the experts’ advice like Bo Sanchez of the Truly Rich Club on growing money, I should have at least a MILLION pesos now and growing (by following Strategic Averaging Method or the power of compounding) but the sad thing is...WALA PA E.
I have worked as a local elementary teacher for 4 years, then 9 years as an OFW but I am ashamed of myself and sad to tell my friends that I’m not ready to go home to be with my family yet. I’m sure you know why. Yes, I don’t have the MONEY to start a new life back home. When I meet or chat with some friends, it’s very typical of them to ask me how long have I been working overseas, and after knowing that I have been away from my family for almost a decade now and say “Ang dami mo na sigurong ipon, no?”, it is embarrassing to tell them the truth that I have none. The reason for this is I don’t know how to handle money. I deposit most of my hard earned money in my savings bank account and because I am FINANCIALLY ILLITERATE, it is only the maintaining balance that is all left in my savings account before the next pay day comes.
Living and working overseas is good especially if you have a good employer or school or company but it is also prone to temptation. When I say temptation here, I am talking about money spending temptations. There are many channels that can easily suck the money up from the ATM cards. In China, we have the very convenient and addictive online shopping popularly called as “Taobao”. I am also a gadget fan, so you can just imagine my trembling hands and drooling mouth when I see new models of phones or computers on display.
The good thing now (although it's a little too late for me) is I have tried very much to CHANGE my bad money handling habits and I am always excited to talk about my PROGRESS with my friend and now, to you as well. I thank the LORD that He poked me while going through my Facebook page and led me to a shared page that has something to do with saving and investing. On that day, NAHIMASMASAN ako from my deep day dreaming and came to the realization that I WILL NOT BE STRONG ALL MY LIFE TO WORK AND EARN FOR MY EVERYDAY LIVING, THAT BEING AN OFW IS NOT FOREVER. From that day on, I have watched some motivational speakers like Bro. Bo Sanchez and Mr. Francisco Colayco on YouTube and many others on money management and money growing. I have also joined the Truly Rich Club and I have been learning a lot from the inspirational ebooks and simple explanations of how stock market investing works.
If you are an OFW like me or an employee or a student who have an extra allowance or accumulated pamaskong handog from ninongs and ninangs on Christmas or birthdays, start saving and investing. You may also start watching and reading motivational videos and articles. Embrace financial literacy.
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