Saturday, August 19, 2017

Aug 02 17, 3:15 pm

DFA to set up mobile centers for faster passport processing service

The Department of Foreign Affairs (DFA) announced that more mobile processing centers will be set up to ease passport application process for Filipinos. DFA Secretary Alan Peter Cayetano admitted there are challenges in cutting the much-criticized long queues for...

PH eyed as rising cruise ship destination

With over 7,000 beautiful islands, it’s no wonder that the country attracts tourists to experience the Philippines. With the improving China-Philippines relations, China is looking into the Philippines as a target cruise destination for Chinese tourists. Aboard cruise...

Senate panel approves DFA’s nearly P20-B budget for 2018

The Department of Foreign Affairs (DFA) became the first government agency to have its budget approved by the Senate Committee on Finance and this is expected to help boost funding to ensure overseas Filipino workers (OFWs)’ welfare. Senator Loren Legarda, chair of...

19,000 kilos of chicken seized in CDO amid bird flu outbreak

A shipment containing 21 tons or 19,000 kilograms of dressed chicken from Luzon was seized in Mindanao due to the existing ban on exporting poultry products outside the 7-kilometer controlled area. Criminal charges will be filed against the importer of the shipment...

2 OFWs still breadwinners at their 70s

by | Lifestyle

Overseas Filipino workers (OFWs) Precila Nefalar and Milagros Villar, who are both facing the twilight of their lives, remain captives of financial instability even at the age of 70.

Nefalar and Villar’s commitment to provide for their families have been tested through the decades they have spent in Hong Kong as domestic helpers (DH).

Nefalar, 70 years old, barely tracked the growth of her younger relatives, but she witnessed major changes that happened in Hong Kong within her 35 years (and counting) as an OFW.

“Itong Hong Kong noong 1982 nandito ako, bihira pa lang ang mga building,” Nefalar said in an interview with GMA.

Her current contract is set to expire this year, but she plans to continue to work as a DH to support the medications of her sick sibling. And she will continue to continue this promise even if it takes her another lifetime.

The fate of 76-year-old and arthritis-stricken Villar is almost the same. For 34 years, she served not just a family, but generations.

“Lima ang alaga ko, lahat sila nakapagtapos na. Wala pang anak ang amo ko nang mamasukan ako sa kanila,” she said.

Set your agenda

While Nanay Precila and Mila deserve nothing but praises for their sacrifices, OFWs are advised to set financial goal to go back to the Philippines and pay debts in no time.

Jun Amparo, a personal finance advocate and founder of Richly Blessed Today, suggests a six-point agenda on financial literacy, which could eventually set OFWs free.

These tips could also be beneficial to OFWs who rely on loan sharks to set their feet in a foreign country in hopes earning a little bit higher for their families.

1. Assess the problem and commit to get out of debt

You need to face reality and make a commitment to get rid of debt. If you expect to get out of debt without defining the real culprit, the problem won’t be resolved.

2. Decide a time frame to achieve your financial goal

Write a deadline for when you’ll be financially free. Setting a time frame is necessary in achieving your financial freedom.

3. Negotiate with your creditors

You can discuss penalties for paying late, lowering down the interest rate, allowing you to skip one or more payments with no penalty, and requesting loan to be extended or restructured.

4. Control your spending habits

Learn to re-define wants versus needs and live with it. If you’re spending more than what you’re actually earning, it’s time to cut back on luxurious that you can live without such as movies, extra clothing and dinner out.

5. Learn to live a simpler life

If your pleasure is always purchasing branded or expensive items at the mall, think of replacing this habit where you will not be tempted to spend much money.

6. Increase your income stream

One way to increase your income stream is to use your talent and skills. This could include activities such as writing, tutoring, making crafts, or even web design.

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NEDA: Weak peso to benefit OFWs

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PH nabs 3 medals so far in 2017 SEA Games

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PH eyed as rising cruise ship destination

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Senate panel approves DFA’s nearly P20-B budget for 2018

The Department of Foreign Affairs (DFA) became the first government agency to have its budget approved by the Senate Committee on Finance and this is expected to help boost funding to ensure overseas Filipino workers (OFWs)’ welfare. Senator Loren Legarda, chair of...

PH to host 2019 SEA Games—DFA

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