Coming Home for Good

The Homecoming Gameplan

We know them as Overseas Filipino Workers. Bagong Bayani. Balikbayans.

Most of us will have at least one family member or friend who works abroad. Sometimes, they can be our husbands or wives, our hard-working mothers or our strong-willed fathers. And even if they aren’t an immediate family member, it’s typical for every Filipino to have a personal relationship with someone who took that solo flight away from their loved ones to work in an unfamiliar place.

Some OFWs earn more quickly and come back sooner than others, but most others stay far from home much longer than they initially expected. They too want to come home, but they can’t do so just yet…

"Another summer day has come and gone
away
In Paris and Rome
But I wanna go home

And I’m surrounded by a million people I
Still feel alone
And let me go home
I miss you, you know"
-Michael Bublé, Home

A recent Philam Life survey on OFWs reveals that:

82

%

The percentage of OFWs who cannot afford to permanently come home to the Philippines because of not having enough savings.

PHP

3

MILLION

The average amount of savings needed in order to finally go back home and live comfortably. Land-based workers said P2.8 Million while sea-based workers said P3.8 Million.

It would take

18

years

The number of years OFWs spend away from their families to earn enough savings to go back home. Based on an OFW household’s average savings of P13,800/month.

AND BEING AWAY CAN MAKE YOU MISS SOME IMPORTANT THINGS...

Birth of a baby

Baby's First Steps

School Plays & contest victories

Baby starts to crawl

Birthdays

Graduation Ceremonies

If you happen to be out the whole time, that could be all of your kid's childhood.

For those who haven’t come home in a while, it doesn’t mean that they are not working hard enough or are not working in the right jobs to achieve their goal. It’s just a matter of having a gameplan.

That’s right, a game plan. Coming back home as soon as possible is about winning the game of life overseas. Being in a new environment and not having your family around you can lead to you making bad financial decisions. The built up guilt due to their absence in loved ones key life moments causes one to spend more and save less. As you start your career outside of the country, you need to have a homecoming game plan with the plays that win you a trip back home!

Three Winning Plays to come home for good

Winning Play #1: STOP OVER-REMITTING

Sometimes, you want to assure yourself that your loved ones back home have enough money to spend, so you end up sending back almost all of your pay check. By doing this, you leave too little for yourself to be stable, and a lot of the money you send may not be properly managed. You may be generous, but you have to realize that it is essential to save up in case of emergencies while you are working. Remit only the amount needed for your family to pay the bills, eat regularly, pay for school requirements and enjoy the same quality of life with you around.

Winning Play #2: DIVERSIFY

The regular income you will be earning out there will be so much more than what you need. Studies show that OFWs choose to have the power to purchase properties – a lot of them! Doing this isn’t necessarily wrong, but what you have to do is be conscious of having other investments. Consider diversifying because it’s prudent to have other assets outside of real estate. Having stocks or investment-linked insurance can boost your chances of growing your money. The earnings and coverage from these will make coming home for good easier.

Winning Play #3: GIVE MATERIAL GIFTS… SOMETIMES

You can potentially earn more than double the salary a job here may offer. This may lead you to buying unnecessary gifts for your loved ones just because you can afford it. But sending them too many material gifts for them to feel loved can affect your savings and your plans of coming home early. Remember to focus on the ultimate goal of saving up to come back home because your presence is more important to them than any gift you can buy.

It is a huge sacrifice being far away to provide a better life for your family. But with these winning plays, you can get home faster. At the same time, getting a financial plan will help make sure you can make the best possible lifestyle available for your family when you come back.

Here in Philam Life, we offer a lot of plans that can shorten the long years of being away from loved ones. We want you to be able to devote more years with your family and make those sacrifices count because really, all they want is for you to be HOME.

all they really want is you

SOURCES

Nikki Natividad (2015), The inspirational, untold stories of OFWs, http://www.rappler.com/bulletin-board/101649-filipino-ofw-heroes
Rappler, INFOGRAPHIC: The story of overseas Filipino workers, http://www.rappler.com/rich-media/16728-infographic-overseas-filipino-workers-the-story?cp_rap_source=ymlScrolly#cxrecs_s
Joy Cortezo (2014), 10 Things only OFWs will Understand, http://faq.ph/10-things-only-ofws-will-understand/
Shakira Sison (2014), What they don't tell you about the OFW life, http://www.rappler.com/move-ph/ispeak/58513-ofw-life
Ana P. Santos (2014), INFOGRAPHIC: Getting to know the OFWs, http://www.rappler.com/move-ph/61808-profile-overseas-filipino-workers
Metrocebu.com.ph, Philam Life Introduced BalikBayani Program for OFW’s, http://metrocebu.com.ph/2015/11/philam-life-introduced-balikbayani-program-for-ofws/

HOW CAN WE HELP?

In any life goal you want to achieve – whether to live healthier, start a family, travel the world, or put up your own business – you need the right plan to help you along. Select from our array of life insurance plans and let us partner with you to reach your dreams.

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UNTIL 100 YEARS OLD

Philam Life’s Active Family Provider is a protection and wellness plan that will inspire you to live a longer, healthier life.

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AIA Philippines’ MoneyWorks for Education is a unit-linked savings plan that helps you give your child a bright education.

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Money Tree is a one-pay investment and life insurance plan that lets you maximize your money’s growth potential.

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Investment

AIA Philippines' Money Tree Elite is a one-pay investment plan that has no entry fee, allowing you to discover the true earning power of your wealth.

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Protection

AIA Philippines’ Future Protect is a plan for you when you grow old and for your loved ones to remember you by should the unexpected happen.

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Health

AIA Philippines' Health Invest Plus is a comprehensive health and life insurance plan with benefits even for the early stages of a critical condition to help you recover for your family.

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Coming Home for Good

The Homecoming Gameplan

A recent Philam Life survey on OFWs reveals that:

82

%

PHP

3

MILLION

18

years

AND BEING AWAY CAN MAKE YOU MISS SOME IMPORTANT THINGS...

Birth of a baby

Baby's First Steps

School Plays & contest victories

Baby starts to crawl

Birthdays

Graduation Ceremonies

If you happen to be out the whole time, that could be all of your kid's childhood.