ANC On The Money: Money Management for OFWs

Here is the link.


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OFW flight plan to wealth

• start by saving 60% of income
• 60% when salary increases
• Then save 70% of income

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OFWs need to prepare for a short career, about 15 years average

instead of buying house, buying a car

7-step plan for OFWs

1. Save emergency fund - 12-24 months of expenses

2. Save for children's education

3. Keep records

5. Learn about investing "simply saving will not make you wealthy"

6. Find a process-based financial planner

7. Keep your financial matters confidential