Some people might think that I have no social life (coz I don't go out a lot unlike other people my age). I only want to see where my money goes. Not that I have sooo many savings but I rather stay home, save my hard-earned money and use it wisely (or give it to someone who needs it most).
I don't worship money, just wanna be clear on that, but I always think of what will happen to me and the people I am supporting in the future if,
1. I lose my job (which happened to me in Morocco last year)
2. there's an emergency (illness, accidents, unexpected happen..)
3. I die (knock on wood!) or things will happen and I couldn't work anymore
Because of my unwise decision, I left my job in Morocco in 2009. I had no full time job for 1 year (August 2009-August 2010). I only worked part time and the money I was earning wasn't enough. Good thing, I had some savings from my previous job which helped me survive through the first few months. I wasn't really worried (well sometimes, I was) with my family back home coz I left my jewelries (which I bought during my first 3 years in Morocco). They could pawn them anytime. Another reason was ,since I went abroad, I don't send much money to my family. I don't want them to live a luxurius life. I always tell them I want to save because we don't know what will happen in the future. My mother is also resourceful that she didn't ask me money. She sold balut, corn, and anything she thought to earn a living. I love my family so much but sending too much is like condoning them into being luxurious.
It's a nice thing it was my decision to leave that I was ready with things that happened. I have prepared my family too (before I left my job) that I wouldn't send them money for the next months because I was planning something bigger for myself and for them. But what if, you don't have any savings and your company closes? or you employer doesn't need you anymore? We have to expect the worst. right? For OFW, you don't want to go home penniless. For people in the Philippines, you don't want to be a burden to your family. I don't think you like asking money in buying your personal things.
When I was still working part time in the Philippines, I always put aside some portion of my salary. Then I got hospitalized for 3 days. The same time I was in the hospital, my nephew got sick as well. My family didn't know that I have opened an account that I use for emergencies. Imagine me in the hospital bed giving my ATM card to my brother but since, I was the only one who knew the PIN code, I went with him to the machine to withdraw (the machine was outside the hospital and you need to cross the main road to get there.lol)
Expect the unexpected! We don't know what will happen to us. Even as a single individual, I am thinking of my siblings, mother, nephews and nieces. I don't want them to pay my debts (lol)..I want them to be financially secure or survive the first years I leave this world (too much advance eh?)
What to do to save?
1. Buy things that you need, not the things that you want. I knew some people who buys things they don't need. It's because they like them or because they haven't had those things before and since they have money, they want to taste some luxury. What's the difference? I mean, you're earning few money now. But if you save your salary, invest it into something profitable. You can buy loads of those if you want. right?
2. Forget social life for at least 3 years or until you have earned enough money. Yes! no discos, parties and other gatherings that will end up into spending your hard-earned money. Going to gatherings mean buying clothes, shoes, bags and other expensive classy things because of course, you don't want to wear same outfits all the time right? I have puzzles, books and laptop. Puzzles make me use my mind. Books (not the trashy ones of course) never cease to teach me new things (it will improve your English skills as well. If you heard me talking 4 years ago, you'll laugh at me! At least now, my mistakes in grammar aren't that much). I think going for vacation to expensive places fall to this category. I know some people who go out of the country and return home broke. (I have complete papers to leave Morocco when I was there but going for an expensive vacay never crossed my mind)
3. Forget buying expensive things. I have lots of clothes but most of them are from ukay (I am not ashamed of that). It doesn't mean that you buy expensive clothes, they look good on you. It depends on how you carry yourself. Buy cheap clothes and you'll have tens or hundreds of them than buying expensive and you'll end up wearing them most of the time. As one of the ads I saw says "You don't need to be rich to become beautiful"
4. Fight jealousy. Your friend has this, you buy it as well. She has new shoes, you'll buy. She has new cellphone, you buy. You are losing your own identity. Later on, you'll become her and you'll forget who you are.
5. Don't try to fit in. This one is about buying gadgets. Would you believe that I am still using my 7250 nokia phone? It's been with me for years. I don't need to buy iphone, blackberry, android etc etc. When I had my vacation in the Philippines, some of my friends asked me why I was still using my very old phone. They said, I could buy expensive ones if I want to but I answer them phones are for communicating your loveones not to show people how rich you are. lol. Expensive phones have many functions. Do you ever know how to use them? Another thing is laptop. Well, this is my second one already but if you want to buy, you need to check the specifications. Will this last for years? My first one was a mistake and I already learned from it. I hope my new one will last longer.
6. Be careful about making easy money. Scams are everywhere. I have a friend in the Philippines who asked me to join this networking business. I did but after I gained what I lost, I stopped. What if you invested a lot and you don't even see where your business is going? And I have received hundreds of scam emails, even my cellphone won lotteries and sweepstakes (which of course, before you received your prize, you need to pay percentage of your winnings. Believe me, my businessman friend was almost duped if I haven't stopped him)
7. Don't date for at least 3 years or until you achieve things you want. If you're a guy, forget girls that are materialistic. Choose the one that love you because she'll understand your situation. But my real advice is, forget being single. Don't date coz even girls that are not materialistic like you to take them out sometimes. Believe me, I do! For girls, never never spend money to your man all the time. I mean, don't be like some girls who pay for the movie, for lunches, fare, expensive gifts (I have done that when I was 18. I was stupid I know!!!). Or you can be a single for few years coz if you reach your dreams, guys from different walks of life will beg you for your attention.
8. Last, don't feel sorry about yourself if you don't have anything in the world and your friends buy things they want. It's better to cry now and laugh later than to laugh now and cry afterwards. I have eaten my first jollibee food when my brother was working as a crew. It was free. lol! I think I was already in the university then.
Even I know how to spend my money wisely, there were times (especially when I had no work) I have no single coin (of course no bills as well) in my pocket. And that was really really terrible. Good thing, I have many friends who went into the rescue. but what if, you are alone (like me now) and you don't have anyone to rely on but yourself?
And you better list what things you want to achieve in the next 3, 5 or 10 years and do something on how to reach them.
I think, this article isn't only applicable to my fellow OFWs (Overseas Filipino Workers) but to everyone even students. You or your parents might lose job anytime (or businesses will be bankrupted).
For OFWs, even you need to send all your money, it's important that you have some savings. Would you believe that I know someone who's a ship master (captain) for 2 decades and they don't even own a house. They learned how to save when they saw how I handle finances. I even trusted me with their money but I chose not to do it to prevent problems.
There is no big or small salaries. It depends on how you spend your hard-earned money wisely.
