The main culprit to delaying achievement of your financial goals is your spending habits. Based on our independent survey of married OFW’s whose salaries range from equivalent to P50,000 to P150,000 believe they don’t have enough most of the time. This shows that even if someone earns a lot (relatively speaking) they can still feel insecurity with regards to their financial status.
Meanwhile, we also surveyed some Filipinos based in the Philippines (married also) who earn P50,000 or less and believe that they have more than enough from what they earn.
Being wealthy or achieving to be one does not depend on how much you earn but is determined by how much you keep—and how you manage and grow what you keep.
Know Where Your Money Goes
Another issue that we’ve noted from the interviews that we conducted is that a lot of people do not know where their money goes after receiving their salaries. They are not even setting their own financial goals.
In an interview by Inquirer Philippines with officers of Xpress Money Services, a lot of OFW’s don’t have their own bank accounts. This means money were sent in the form of cash to their relatives back home which bounds them to spend all they receive. Watch the interviews below.
Knowing your spending habits and the reasons why you want to spend can help you make better spending choices. These will help you keep more money to save and use toward your financial goals.
Are you ready to get your spending and sending under control? This infograph can help you make decisions to get rid of non-essential things, overs(p)ending on relatives, break bad habits, save money, and make lifestyle changes toward becoming a better spender.
Be guided on your money decisions by subscribing to BurnGutierrez.Com for FREE.
Join the OFW UsapangPiso Facebook Group to learn how to plan your finances the right way and how to grow your money in various financial instruments and investment vehicles such as stocks, mutual funds, UITF’s, bonds, money market, real estate, and others.
Rock your way to abundance!
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