Saving For Rainy Days

By: Saturnina De Los Santos Rotelo (Cute)

Cute teaching a financial literacy class

It is very important to save, every migrant should do it, be it a professional or a domestic worker. Most of us have dreams for ourselves or our family but most of us migrants return to our country with so little money, as we don’t have savings or even enough money to get us trough.

Migrants from different parts of the world like domestic workers, skilled workers or professionals, leave their countries to look for greener pasture. The International Labor Organization ( ILO ) surveys and studies migrant workers, and has used the results to develop modules for the education of migrant workers.

Saving is an easy word to say. Everyone knows that. But to save for a rainy day is hard to do. By saving alone, without proper knowledge on how to use those savings, you are at risk to end up with nothing left in your bank account to secure your successful re-integration. Buying things, or going shopping, is not a bad thing to do, but we must understand how to spend our money wisely

Spending your money on “needs” like food that are necessary for your everyday life needs to be done. But by going to restaurants or fast food places too often, you will spend more than at the market, and this will not make your saving successful.

Spending on fun or ‘nice to have’ items, in places like “hukay hukay”, flea market every Sunday or buying items on sale in malls is not a need but it is a “want” to satisfy your greediness, or being boastful to show your friends that you belong in that kind of society.

Financial literacy class students

The migrants themselves play an important role in saving their own money. They must understand the concept of real savings, and the family has to be involved in doing this as well. Migrants need to educate themselves, for example through a Financial Education Course in HOME. The course will help them understand how to manage their finances, and to apply what they have learned. Then, they can also educate their families back home. By letting migrants understand how to manage their expenses, it will be easier for them to save, and going back for good is not a bad idea when you have some money to take with you. Setting yourself as an example to your family and friends by not spoiling yourself with material things is a good thing too.

If you wish to be with your loved ones, your children and have a stress free life then you have to think a million times before spending your hard earned money in “WANTS”. Take it from the ants that work very hard every day because they wanted to save for rainy days.

Saving your money is easy to say, but hard to do. Change of habits, persistence and determination will surpass, and success will prevail.

Start with yourself – now. Once you do it then you will say I DID IT. Do it with love.

Happy savings!