How to save money tips for OFWs

About Retire Rich

IMG_20160629_201735Hi! My name is Rey Tecson and I’m using a pen name: Retech Son earlier in writing blog posts. That’s why, if you notice the web address of this blog is I randomly write and post everything worth sharing on this blog along the way, as I continue my journey working in this oil-rich country Kuwait.

I also share on this blog some of my experiences as an Overseas Filipino Worker (OFW) working in Human Resources Department (HRD) of one the biggest Oil and Gas construction firm in Kuwait. That’s why on earlier entries of this blog you will be able to find few guide or somehow answers to basic questions regarding employment.

I’m one of those OFW’s who leave their families back home to find greener pastures outside our homeland. Sabi kasi nila pag naka pag-abroad, kahit papano, giginhawa ang buhay.

Well, it actually depends on what kind of job you came from. I started in Kuwait as a stocker (warehouseman) with a very meager salary. In our currency, I started less than PHP 20,000 monthly salary in 2006. So, hindi mo talaga masasabi na nakakaluwag. In fact, I used to visit a blood bank monthly to sell white blood cells to survive. I’m doing it for like more than five months straight. I felt something is not right. Health is wealth ika nga. I stopped it! And do something else.

I strived to improve and invested something for myself. I studied basic computer secretarial course. With the new skills acquired, I was able to find an office job with a decent salary. You can read my blog post here on how I shifted from being stocker to an office job.

Although I’m receiving a decent salary, I realized that there’s one thing in common in earning higher and lower salary. The common thing is my bad spending habits. My spending habits are the same. Meaning, because of my bad spending habits, pag dating ng katapusan ng buwan, minsan kalagitnaan pa nga, wala ng pera. I don’t have savings!

In September 2015, Celestino Edubas, a good friend of mine and founder of Tabangpinoy, introduced me to a group called Overseas Filipino Stocks Investors (OFSI). This group offers free financial literacy seminar. I attended the five-Fridays seminar and I learned a lot. The seminar changed my perspective about money and rich people. Bakit mahirap ang Filipino? Lalong lalo na OFWs. Marami pa rin mga OFW na umuwi for good sa Pilipinas na wala man lang naipon for retirement.

With the seminar, I was able to understand how important to save, invest and retire with financial freedom. OFSI showed me how to invest in the Philippine Stock Market (PSE). I developed the habit of saving and regularly invested in Mutual funds and Stocks.

That is why, if you noticed, lately, my blog entries were about tips and guide on how to save money. Soon, I’ll be sharing also my journey in investing the stock market. My objective, if God willing, is to retire with millions in my bank accounts. If the maid of brother Bo Sanchez, already a millionaire now, then we OFWs can be millionaire too! We can do it!

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