Overseas Filipino Workers (OFW) have long been recognized as one of the pillars of the Philippine economy. They make up an essential part of the country’s workforce, and they are brave enough to leave their families behind in order to send money back home. So why do many OFW still remain poor even they work abroad?
Different reasons why many OFW remains poor
There are many reasons why many Overseas Filipino Workers (OFWs) remain poor. One of the main reasons is that they often have to work long hours for little pay. They also have to spend a lot of money on their own transportation and lodging, which can eat into their earnings. Additionally, many OFWs send money back home to support their families, which can also make it difficult for them to save money.
In addition, many OFWs are not able to find well-paying jobs in their chosen field, which can make it difficult for them to earn a good income. Additionally, the cost of living in some countries is very high, which can also make it difficult for OFWs to save money.
There are different reasons why many Overseas Filipino Workers (OFWs) remain poor despite working hard in other countries.
One reason is that they are not able to save enough money because of the high cost of living in their host countries. They also have to send money back home to support their families, which leaves them with little to save.
Another reason is that they often have to take on debt in order to pay for their passage to their host country or to cover unexpected expenses. This debt can be difficult to repay if they are not able to find steady work.
Finally, many OFWs are not able to access government benefits or services that could help them improve their financial situation. For example, they may not be able to get a loan from the Philippine government’s Overseas Workers Welfare Administration (OWWA) because they do not have a valid contract with their employer.
Solutions to address the problem
There are a number of reasons why many OFWs remain poor. However, there are also a number of solutions that can help address the problem.
One solution is for OFWs to send money back home regularly. This will help to ensure that their families have enough money to live on and that they are not relying on loans or other forms of credit to make ends meet.
Another solution is for OFWs to invest in property or other assets back home. This will provide them with a nest egg that they can use in case of an emergency or if they decide to return home permanently.
Finally, OFWs should make sure to set aside some money each month for savings. This will help them to build up a financial cushion that they can fall back on in times of need.