Wednesday, November 22, 2017

Sep 12 17, 4:45 pm

‘Poverty mindset’ stifles Pinoys’ money skills, success guru says

DUBAI: Most Filipinos often hear themselves uttering, “wala akong pera,” if not “ang hirap ng buhay,” or “ang hirap kumita,” Ever wondered why? Because majority of them are “programmed to be poor from childhood,” said success guru John Calub, a street-smart guy who...

Rachel Peters bikini body at Miss Universe preliminaries

Philippine’s bet Rachel Peters showed off her bikini body during the preliminaries of the 66th Miss Universe on Tuesday and her supporters can’t get over online. In her Instagram account, the beauty queen thanked the Filipinos from all over the world for their...

Isabel’s mother tears up for actress’ Walk of Fame

Mommy Guapa Castro-Granada, the mother of actress Isabel Granada, who recently succumbed to brain aneurysm, burts into tears as she unveiled the actress’ star at the Walk of Fame Philippines in Eastwood City on Tuesday. "Sobrang saya kasi sa karangalan na binigay,...

How can you help bring Rachel Peters a step closer to the crown?

Filipino fans from all over the world have the power to help Rachel Peters make a step closer to the semi-finals of the 66th Miss Universe by voting for her online. Everyone can vote ten times a day until Saturday November 25 on the Miss Universe's website by writing...

More OFW families using remittances to invest, says Bangko Sentral

by | TOP STORIES

Aside from allocating the remittances they receive from their overseas Filipino worker (OFW) loved ones on food and household needs, more OFW households are using remittances to invest, according to the quarterly Consumer Expectation Survey (CES) conducted by the Bangko Sentral ng Pilipinas (BSP).

    The portion of remittances OFW families allot to investments almost doubled to 8.5 percent in the third quarter of 2017 from 4.4 percent in the second quarter.

For Q3 2017, the percentage of OFW households allocated part of their remittances for medical expenses (52.5 percent), savings (42.1 percent), debt payments (40.2 percent), purchase of consumer durables (24.5 percent), purchase of house (14.5 percent), and purchase of motor vehicles (6.2 percent) declined.

By geographical area, a bigger percentage of OFW households in NCR used their remittances for medical expenses, savings, investment, and purchase of consumer durables, house, and motor vehicle compared to their counterparts in AONCR.

    The survey showed, however, that the percentage OFW households who set aside savings dropped from 45.9 last quarter to 42.1 percent in the third quarter of the year.

    Majority of where OFW families allocate the money sent home by OFWs on food and household needs (98.1 percent) and on education (70.3 percent).

The Q3 2017 CES was conducted between July 1 and 15 with a sample size of 5,597 households.

Source: bsp.gov.ph
Photo credit: Flickr

Related Articles:

http://filipinotimes.net/editors-pick/2017/09/06/chinkee-tan-to-families-of-ofws-make-an-effort-to-thank-your-loved-ones-abroad/

http://filipinotimes.net/top-stories/2017/09/10/ready-rich-tips-invest-rent-property-ph/

Jobs

Editors Choice

2 POEA execs relieved as top-to-bottom revamp continues

2 POEA execs relieved as top-to-bottom revamp continues

The Philippine Overseas Employment Administration (POEA) has relieved two officials pending investigation of their alleged involvement in illegal recruitment activities. Department of Labor and Employment (DOLE) officer-in-charge Undersecretary Dominador Say said the...

SSS eyes to provide members who lose jobs with financial aid

SSS eyes to provide members who lose jobs with financial aid

Social Security System revealed that a new law aimed to provide its members who lose their jobs with financial aid is being crafted. The head of the pension fund said Tuesday that those who are “involuntarily” separated from work may get up to 80 percent of their...

9 Aquino cabinet men charged over MRT-3 maintenance deal

9 Aquino cabinet men charged over MRT-3 maintenance deal

Several cabinet members during former president Benigno S. Aquino III's administration face plunder charges filed by the Department of Transportation (DOTr) on Tuesday before the Office of the Ombudsman in connection with the alleged anomalous contract for the...

The winning game plan of Dubai-based OFW couple to come home for good

The winning game plan of Dubai-based OFW couple to come home for good

There are myriad reasons why Filipinos move to the UAE, specifically in Abu Dhabi and Dubai. Some followed their spouses or loved one who had already established a career here. Others felt it was a great place to start a new life. This includes our compatriots who had...

Duterte vows to end telecom duopoly in PH

Duterte vows to end telecom duopoly in PH

Presidential Spokesperson Harry Roque Jr. announced on Monday, November 20, that the dominance of two major players in the local telecommunications industry is about to end. “During the bilateral talks between President Duterte and the Chinese Premier, President...

Rachel Peters bikini body at Miss Universe preliminaries

Philippine’s bet Rachel Peters showed off her bikini body during the preliminaries of the 66th Miss Universe on Tuesday and her supporters can’t get over online. In her Instagram account, the beauty queen thanked the Filipinos from all over the world for their...

Isabel’s mother tears up for actress’ Walk of Fame

Mommy Guapa Castro-Granada, the mother of actress Isabel Granada, who recently succumbed to brain aneurysm, burts into tears as she unveiled the actress’ star at the Walk of Fame Philippines in Eastwood City on Tuesday. "Sobrang saya kasi sa karangalan na binigay,...

3 weather systems affect PH

Three weather systems would bring rainshowers in most parts of the country Wednesday, state weather agency Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said. The tail-end of a cold front is affecting the eastern section of...

2 POEA execs relieved as top-to-bottom revamp continues

The Philippine Overseas Employment Administration (POEA) has relieved two officials pending investigation of their alleged involvement in illegal recruitment activities. Department of Labor and Employment (DOLE) officer-in-charge Undersecretary Dominador Say said the...

Recent posts

We listed over 1,000,000 jobs from United Arab Emirates monthly.

Accomodation option available in the market.

Latest News
Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.

© 2017 The Filipino Times

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

More in TOP STORIES
1,180 Filipinos take Special Professional Licensure Exams in Abu Dhabi
Published On  September 11, 2017
High heels ban, sitting break provision effective today in PH
Published On  September 11, 2017
‘Filipinos riskiest drivers in the UAE’, study says
Published On  September 11, 2017
Close