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They say that Financial Literacy Seminar and Financial Investment is too expensive for people to start and I say it is more expensive to be ignorant than to get Investment portfolio such as Insurance , Mutual Funds and other investment.

Let me explain my point.

Most people when asked about their savings and investment, they will just reply, “I don’t have investment, it is only for the rich”. It is the reason why our society needs to be educated about financial literacy.


Saudi OFW who goes back to Philippine with Final exit normally gets End of Service Benefits (ESB) from his employer. This is worth 50% of his/her monthly salary per year for the first 5 years and 100% of monthly salary for the next year of the total service rendered. The problem; whenever an ofw goes to Philippines without any financial literacy, chances are this money will only last for few months and end up being poor while in Philippines. It is also the reason why many old aged ex Saudi want to go back to Saudi to work again.

I can give you an example, let say an OFW earns 5,000 riyals per month (assuming it is his latest salary), and he stayed on his company for 15 years. This will be his computation:

  • First Step : 5,000 x 0.5 x 5 years = 12,500
  • Second Step : 5,000 x 1 x (15-5) years = 50,000
  • Total take home = SAR 62,500 = approx. Php 675,000

Imagine working for 15 years in Saudi Arabia who have no knowledge in Philippine Business, put his ESB in business and ended up of becoming bank craft.

Financial Literate OFW will definitely think of something on how he can grow his money, taking into consideration different risk that he will face on his venture on investment while,

An OFW without any Financial Literacy Background will definitely spend 10% or more for “Pasalubong”, then after arriving in Philippines “Painom” and more. This is just to tell everybody that he came back from overseas work. His friends will approach him to open a business and gives his money with no proper feasibility study. So what do you think will happen to this OFW? Will he enjoy his retirement?

Financial Literacy is important for all of us. Ignorance is the most expensive things in the earth as well as ignorance can also be equated to gambling. Any business without proper study will have high chances of business failure.

Learning Financial Literacy does not mean you don’t have faith in the Lord. Financial Literacy is preparing for your future and having faith that the Lord will help and guide you in your plan.

I always believe in If You Fail to Plan, You Plan to Fail.

Proverbs 22:3 ESV

The prudent sees danger and hides himself, but the simple go on and suffer for it.

Be wise on your hard earned money.