DOLE to teach OFW’s to invest!
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In my previous entries, especially where I discussed OFW’s as emerging and I repeat I-MER-DYEENG(!) middle class, for this to happen, there are two actors here: the OFW himself and the government. In that article, I discussed The role of an OFW to be in the middle or upper class takes a whole new mindset and concrete actions to be one:
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One must limit spending. These are lessons learned from lolo and from lola. Tipid. We all must spend less than what we make, simply put, we must all live within our means. This is the Holy Grail that we’ve been looking for that we can’t find in the Philippines, so why waste it?
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One must limit their debts. What you earn is yours and it’s not for creditors. For if we owe to many debts to too many people, we’re left with very few choices.
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Save, save, save! You never know when emergencies knock on your door.
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Planning for retirement is NOW! You don’t want to be like my officemate’s dad whose retirement in the Philippines is only Php2, 000 per quarter.
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Be smart and be ready at all times. We all have to constantly look for opportunities to always be in the middle or upper class. Honestly, no one will watch for you but you alone. There are a lot of dangers that will knock us off to be out of that level.
I also discussed the role of the government. That, whereas it is commendable that the government continues to be at the forefront of the labor export and at least doing its best to protect OFW’s, the role of the government must extend to:
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Assisting OFW’s returning to the country by creating incentives to enterprising OFW’s and providing programs to make them successful.
I emphasize the word “make!â€, because even if the returning OFW’s have the capacity to lead a good life and start an enterprise, without a good business climate and regulations for OFW’s, this will knock off OFW’s from that middle class or upper class column.
Today, I am reading this article from the Inquirer that really make Reyna, happy and truly gay! DOLE to teach OFWs how to invest.
The Department of Labor and Employment said there was a need to teach returning overseas Filipino workers and families of OFWs still abroad how to spend or invest their dollar earnings. Labor Secretary Arturo Brion said the National Reintegration Center for OFWs, a newly-created DOLE agency, would be going around the provinces to teach OFWs and their families how they can engage in livelihood and small- and medium-enterprises using their earnings
These are the kind of program that I have plastered in my blog and I am glad that although the Department of Labor and Employment is not reading my blog - they can feeeeel the powers of my korona. I hope this program works. I hope my fellow OFW’s take advantage of this, especially yong mga ininsulto nang wannabe diva bitch from hell called Manila Standard.
First time ever in my blog that I will ever say - Good job DOLE. But we will keep an eye on you!
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August 19th, 2007 at 2:38 am
I sit in the board of Unlad Kabayan Migrant Services Foundation. For more than 10 years now, our advocacy has been savings mobilization and investments for our OFWs.
We have an extensive network of OFW savings groups in Hong Kong, Taiwan and Korea. We’re doing a roadshow in the US this year with the help of a Bay Area (San Francisco) NGO campaigning versus high costs of remittances. Next year we plan to do another one in Europe.
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August 19th, 2007 at 10:57 am
Thank you Mr. Peter for dropping by.
I’m willing to join your NGO in the United States should you need some help, I’m all out as far as assisting OFW’s empowerment is concerned. Drop me an email or post it here. I think I ran across your name over at Ellen Tordesillas?
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August 21st, 2007 at 12:19 am
Yup I will notify our US roadshow team to get in touch with you.
Salamat!
Peter
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November 27th, 2007 at 7:56 am
One of the best way to keep ofw not to go abroad again is to teach them what to do to their hardend money when they are already growing old
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