These are the things where money goes for an OFW or in a simple term,
where they spend there money.
When an OFW is going home, some relatives (the second family) are more excited to see the Balik Bayan with the size 9' (shoes) and other gifts they bring. Be careful with these hungry people not realizing the hard work you did and time saving the income you have now. Categorize them as less priority and it is a good way to make them see that they must learn how to work for themselves. Husbands and wives together with the children must be the first priority most specially the educational expenses.
College, High school Friends and other colleagues
Time for them is also an important part since these individuals really know what you have been through in life. They usually would like to hang out with you in some bars with drinks and karaoke. Avoid friends that pop up from nowhere and asking to lend him some money. It is up to you if you like to help them but be sure to calculate your needs first and other expenses where you want to spend your own income. Remember the days that you put yourself into a tight budget just to save some for the future. Remember the time that you neglect your own needs just to feed your family in the Philippines.
"Your hardships are your assets do not give them away for free."
Needs / Investment / Assets for a lifetime
Food, shelter, clothing, tuition fees, electric bill, water bill and internet. These are the most common needs that cannot be bend by time unless you know how to invest to multiply your earnings. If you still have not notice, a business of your own is a lifetime asset. This in turn can help you throw your job back to your employer and wave goodbye. An OFW should spend some time learning any kind of entrepreneurship method to save some time for retirement and a good time vacation.
Any franchise or business you like to learn is out there. Study these things if you want to be a forever employee in Saudi Arabia, Qatar, Dubai, Singapore, Canada or anywhere abroad. A step by step stage is also needed here to leverage yourself little by little while still working abroad. Do not rush everything since the quality of work will only come back with good work, good attitude and discipline. Make a daily routine of productivity and preview the dreams you want to have. The mind is a powerful source for the dreams to come true. If you think you can't do this or that. You are right and it will happen.
Wants / Income output / No return of money spent
Wants are many things we like that has a no return of investment but can make us happy. Will a vacation at Palawan and Boracay makes us happy? OFCOURSE! plus a quality time with your family or friends. But before jumping to waters of fun, keep in my your limitations and this means your budget must be balance: needs versus wants. You might want to reflect your expenses because this is a crucial thing. Money is easy to spend no matter how much it is. A wise person invest for some assets while enjoying a little. There will be a time that you can enjoy big time just invest wisely.
Tip of the Day:
"Do not spend more than what you get."
"Invest and multiply your income."
"You are not forever young."
"Love alone will not keep us alive."