Comments on: Financial literacy for OFWs

By: zigfred

zigfred — Thu, 25 Jun 2009 15:36:23 +0000

me’an Olan: Hi there ! THanks for visiting my blog. I’d appreciate a copy of the financial literary module that you are working on. Hope you can send it to me so that I can help promote it in my blog. More power to you as well !!!

By: Me'an Olan

Me'an Olan — Thu, 25 Jun 2009 03:43:56 +0000

Hi. I am currently working on a Financial Literay Module as part of the Action Plans of our Foundation. EPRA’s primer, which i happen to have right now, (Pinoy’s Guide to Managing Finaces) is one of the reference materials that i find very handy and very applicable. The fictional story about Janice is nothing new; we see similar dramas in movies, TV, magazines, etc. But reading or hearing such story still aghasts me. And i always end up asking myself, “why, oh why?!” and then a surge of anger and dismay would crawl up to my spine. Honestly, i’m also thinking of working abroad (yah, i know, i’m a typical; same old OFW-aspirant-Filipino). But i’m also having seconds thoughts. I don’t want to be a part of the EPRA statistics — those OFWs whose families focus only on present consumption and end up with more debts. I want to work abroad because i want to have sufficient savings decent enough for my daughter’s future. I want to have a house of my own and other properties which would make me see the fruits of all my labor. I know that i might not be able to obtain a zero-debt status (well, after all, as what the elders say “sa laki ng utang ng bansa natin, ang bawat Pilipino hindi pa ipinapanganak may utang na!”), but i am targeting a well-lived life. Not just for myself, but for my family, specially for my daughter.

I will visit the OFW Journalism Consortium website and other websites presented herein. I know i’d still find other pertinent data that will help me finish my module.

Thank you very much and more power!

By: Iris

Iris — Tue, 08 Apr 2008 12:34:32 +0000

I will be honored to guest post for your blog. I have a break from school coming up (May – June), which should provide me enough time to write a quality article.

By: zigfred

zigfred — Fri, 28 Mar 2008 16:38:43 +0000

Iris: Hey, I got a great idea, do you want to guest post in this blog ? Just send me your article and I will put it up.

Nice to see like minded people around. Thanks for the comments.

By: zigfred

zigfred — Fri, 28 Mar 2008 16:33:33 +0000

Iris: It’s a sad fictional tale but what’s more sad is that thousands of Filipinos are experiency it day to day. I grieve for the lack of financial literacy in this country.

With your inputs I guess it’s not a local problem but a global one since people are experiencing it in the U.S. I strongly agree that financial management should be taught in all levels of education. We often hear of highly educated men and women with successful careers but are however living in the turbelent nightmare of unpaid debts. I was almost a victim of the debt quicksand about 3 years ago. Luckily, I got out.

Thanks for the site. This will come in handy as reference in future posts.

By: Iris

Iris — Fri, 28 Mar 2008 14:46:33 +0000

Wow! Your story is horrific. Financial management knowledge is a must for everone.

The U.S. also have a problem. Majority of Americans are unable to manage their money wisely. By living beyond their means – expensive luxury cars worth $50K, big houses worth $500K or more, designer clothes, and multiple vacations – all these for an average annual income of $43,000. That’s why personal debts have risen drastically. For instance, the total U.S. consumer debt in 2007 reached $2.46 trillion (not including mortgage debt). Basically, Americans may portray a wealthy lifestyle, but most everyone is buried in debt. Many experts are suggesting adding a financial management class to grade students to be able to train our children to be financially savvy at an early age.

For more statistics, check out: http://www.creditcards.com/statistics/credit-card-industry-facts-and-personal-debt-statistics.php

By: Financial Management » Blog Archive » Basics On Financial Management:

Financial Management » Blog Archive » Basics On Financial Management: — Wed, 23 Jan 2008 01:44:38 +0000

[...] Financial literacy for OFWs Janice, an Overseas Filipino Worker (OFW) regularly sends an average of P 30,000.00 to P 40,000.00 (Almost a $1,000.00 U.S) a month to support her husband and two children. After several years of working abroad she comes home expecting a loving husband and two healthy children to greet her. Instead she finds her household in disarray, her children not in school for more than a year; her husband living with another woman, no food in the refrigerator, debts piled up at the neighborhood store, no [...]