Sun Life’s Shine Pinoy Overseas Homecoming Event In Bacolod

Shine Pinoy Overseas’ Goal is to Help OFWs and Their Families Achieve Financial Security

Among the many problems of our country, the economy is one of utmost concern. However, some economists are not worried because the last quarter of the year is when a large amount of dollar remittances from Overseas Filipino Workers (OFW) will come in. It cannot be denied that OFWs are indeed our nation’s modern heroes. However, up to 88% of OFWs have no definite plans as to when they will retire and come home for good.

Last Sept 30, I attended the Shine Pinoy Overseas Homecoming Event for OFW Families held by Sun Life at Seda Capitol Central Hotel Bacolod. It’s a financial wellness forum focused on helping Overseas Filipinos (OFs) and their families achieve a financially secured future. The guest speaker was Mr. Randell Tiongson, a Financial Literacy Expert and Advocate of Life & Personal Finance and Financial Education for OFWs. I’m so thankful to have attended this event because I’ve learned a lot from him.

Some OFWs might decide to come home for good after years of working. However, a study says that only 30% have savings. Below are some helpful tips on financial freedom for OFWs that Mr. Tiongson have discussed:

✔ Budget Your Income

The 50/30/20 is one of the best methods, which states that 50% of your income should be spent on your family’s daily expenses, 30% on leisure-related matters, and 20% on savings.

Make a list of all your expenses and determine your modest spending level. Reduce unnecessary spending and practice self-control.

✔ No Debts

Saving is an advantage in non-emergency situations. You can use the money for expenses in the future such as tuition fees, vacations, and home renovations. However, borrowing to finance these expenses will make you end up having to pay more than you borrowed because of interest.

✔ Talk To Your Family

Have a serious talk with your family and tell them your financial goals and investment objectives. This will inspire them to spend your earnings wisely and control their assumptions.

Save for emergencies and have money to spend on your children’s tuition fees, building a new home, more savings, and investing in mutual funds.

✔ Invest Your Money

Invest any extra cash you have. That way, your money will grow. Invest in businesses, stocks, insurance, and real estate so that you’ll have income even after you’ve returned home.

Remember that investing involves risks, so don’t invest all your money on one venture. Have an emergency savings fund that can last for months before beginning your desired investments.

✔ Have Short-term & Long-Term Plans

Have a financial goal and project where you’re going to be in 10 or 20 years. If you want to be an entrepreneur, start taking steps toward your goal. Write down how much money you expect to earn every month and where you’re going to spend it. Make an effort to meet your monthly goals.

Sun Life Shine Pinoy Overseas

The Shine Pinoy Overseas program encourages OFWs and their families to participate in financial planning sessions, product bundles, and special events, making sure that financial security can be a shared goal within the family. Sun Life likewise assures these OFWs that its advisors are knowledgeable and effective when it comes to handling the unique realities of an OFW family, done by conducting training programs by experts.

OFWs who are interested to obtain more information about Shine Pinoy Overseas may visit www.sunlife.co/ShinePinoy and connect with any Sun Life advisor for their inquiries.

For more photos during Sun Life’s Shine Pinoy Overseas Homecoming Event in Bacolod, visit this link.