Tuesday, June 7, 2011

My financial story: Continuation

After a few months of working on that company, opportunity comes. It is an opportunity I haven’t expected.  

What opportunity?

 I got a chance to work abroad.

This was what happened. It was unexpected because it was not my plan to work abroad. I didn’t plan to apply job in abroad. But, because of my co-worker, he encourages me to pass an application; he pushed me to pass an application. Taking an exam for that company, that was on November 2005 and luckily passed. Since the company urgently needs a worker, the company advises to the agency that whoever finish/comply the requirements as soon as possible will be deployed first. Am just lucky I able to immediately comply their requirements through the help of my Auntie (financial aid). I was deployed last January 2006.

Working there for three years is an unforgettable working experience and was a great help of my family. I got enough savings. But since I don’t have an idea on how to handle money, my savings earning only 300 pesos for a period of year. Imagine for a big amount of money stock on a savings account, will earn only that amount? So pity.  If only I have known how to invest it, my money will earn more or less 50% gain.  But anyway, that was charge for my experience. So, for OFW out there, better to know the ways & means on how to invest now while working there.

Another thing was, I failed to contribute my government benefits such as my SSS, Pag-ibig, Phil Health contributions. Imagine, for three I have zero contributions for my retirement plan. And if I able to contribute for that, how much savings do I have now? If I did it before it’s surely I am enjoying now the benefits like loans. I wasted my time and money. L I cannot return the time. In this experience, it’s really true that TIME is GOLD. So, for OFW out there, be sure to continue your savings retirement plan contribution. Time is our ally.

Now, working again here in the Philippines, living again in a payday-to-payday life. But it’s not too late for me because I already thinking on how to have an extra income, invest, and making ways to work money for me. Making extra money if I have an extra time like this. J

For my next posts, we will be discussing ways an means on how to grow our money.

See you in my next post. J

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