OFWs who are living and working abroad are looking forward to the time when they can finally go back home for a vacation with their families and loved ones. For most of them, this much awaited event is something that they prepare for no matter how short or long it is because it is not every day that they get to be with the people who are precious to them. And we have to admit it, going home means a lot of expenses for pasalubong, vacation trips and other expenditures back at home.
So if you are an OFW who is planning to go back home soon, here are some financial tips you need to follow to make sure your pocket does not run empty before you even go back to work.
1. Define the line between needs and wants. Before you even go home, you need to distinguish the difference between needs and wants even when you are buying pasalubong for your loved ones. And while it is in the nature of Filipinos to be generous, you should not also feel obligated to give to other people like your neighbors, the co-workers of your parents or spouse etc. Your priority is your immediate family and you can give only if you have some excess pasalubong.
2. Set a budget before you go home. It will be better if you set a budget before coming home and allocate your money accordingly for your expected expenses. You can set aside an amount for emergency expenses so that you don’t spend up every peso you bring home.
3. Know your limits. It is only natural that you want to make the most of your vacation and make the most of it by enjoying with your friends and family. However, you need to know and stick to your limits. You don’t have to say yes to every invitation of your barkada to have a long drinking session.
Going home for a vacation as an OFW does not mean that you have to run out of money simply because you need to please everybody. It is all a matter of knowing your priorities and sticking to your limits.