Set deadlines for your goals, FDHs urged

FILIPINO domestic workers should learn to set deadlines for their goals, financial experts said in the latest “Money Wise Public Forum” held at the Philippine Consulate General.

Lenlen Mesina, Enrich executive director, said overseas Filipino workers should be aware of the “migration journey”, which will allow them to live comfortably once they return to the Philippines for good.

“Sa iba-ibang stages na iyon may iba-ibang requirements pagdating sa usaping pera. Mayroon ka dapat nakikita na financial stages,” she said.

The ages between 20 and 30 refer to a period of financial startup; 30-40 is financial independence; 40-50, financial growth; 50-60, financial stability; 60-80 is financial freedom.

Mesina said Filipino domestic workers are usually stuck in the first stage of their migration journey, or the part where they finance various needs of their family.

While professionals could expect growth in their salaries as they gain more experience, domestic workers rarely find that this is the case for them.

“Hindi lahat nakaka-appreciate ng value ng extent ng experience ng domestic workers para mabigyan ng mas mataas na sweldo pero ang dami nilang dapat na pinopondohan sa buhay nila kaya  we tell them to set up plans at understand alin lang doon sa mga planong iyon ang dapat i-prioritize nila,” Mesina said.

Before the forum, Enrich volunteers also held a financial health consultation at the PCG, advising at least 15 Filipino domestic workers about budgeting and setting up their financial goals.

It was the second of a four-part series of financial literacy forums that Enrich will be holding at the PCG.