Coming home after working abroad as an Overseas Filipino Worker (OFW) is a huge milestone. But it’s not just about stepping off the plane; it’s about stepping into a new chapter. Smart planning makes a big difference between a joyful return and facing unexpected struggles. This guide helps you prepare so your homecoming is smooth and fulfilling.
Understanding the Emotional Rollercoaster
Let’s be honest, coming home isn’t always rainbows and butterflies. You might feel a mix of excitement, relief, and even a bit of anxiety. You’ve gotten used to a different life, a different routine, and being away from your family can create its own set of dynamics. It’s normal to worry if you’ll fit back in seamlessly, or if expectations from family members will be too high. Remember, open communication is key. Talk to your family about your expectations, as well as understanding theirs. A good first step could be watching videos with family members about managing finances or small businesses to get aligned.
Financial House in Order: Before You Even Pack
The biggest pitfall for many returning OFWs is not having a solid financial plan. Imagine saving for years, only to see it dwindle away quickly. Start preparing your finances months before your return. This means knowing exactly how much money you have, where it’s located (bank accounts, investments, etc.), and what your debts are. Create a budget: how much money will you need per month to cover essential expenses and wants? Be realistic. Consider not just the present, but the future. Will you be investing, starting a business, or relying on your savings?
One practical step is to create a detailed spreadsheet. List all your assets: savings accounts (with interest rates), investments (stocks, bonds, real estate), and any properties you own. Next, list all your liabilities: loans, debts, credit card balances and the interest you are paying. Calculating your net worth helps you get a clear snapshot of your overall financial health. Here are some suggestions for finding a financial advisor from the Securities and Exchange Commission (SEC) SEC Investors Advisory.
Debt Management: Taming the Beast
Debt can quickly eat away at your savings. Before you return, make a serious plan to tackle your existing debts. If you have high-interest loans or credit card debt, explore options for consolidation or refinancing. The goal is to reduce your interest payments and make your debt more manageable. Are you behind on any repayments? Contact your creditors and explain your situation. Some lenders may be willing to work out a payment plan. Don’t ignore the problem; it will only get worse over time. Consider also how your debts in your host country will be managed. Some OFWs unknowingly find that interests on debts they’ve left behind accrue at a higher rate.
Investing Wisely: Making Your Money Work for You
Instead of letting your money sit in a low-interest savings account, consider investing it wisely. There are many investment options available, each with its own level of risk and potential return. Explore options like stocks, bonds, mutual funds, or real estate. For example, a lot of OFWs have invested in Real Estate, particularly pre-selling properties because of the payment schemes.
Remember, doing your research is crucial. Don’t invest in anything you don’t understand. Seek advice from a trusted financial advisor. The Bangko Sentral ng Pilipinas (BSP) offers various resources on financial literacy and investment options. Check out their website for more information as they provide guidance against investment scammers. BSP Consumer Affairs
Business Ventures: Proceed with Caution
Many OFWs dream of starting their own business when they return home. While entrepreneurship can be rewarding, it’s also risky. Don’t rush into a business venture without careful planning and research. Is there a demand for your product or service? Who are your competitors? How much capital do you need? Create a detailed business plan that includes market analysis, financial projections, and a marketing strategy.
Don’t put all your eggs in one basket. Start small and test the waters before investing a large sum of money. Consider starting with a franchise or a small online business. Attending seminars or workshops on entrepreneurship can also provide valuable insights and guidance. Consider seeking help from organizations like the Philippine Center for Entrepreneurship (PCE) or the Department of Trade and Industry (DTI) for guidance, mentors and resources.
The Siren Song of “Easy Money”
Beware of get-rich-quick schemes and investment scams. Unfortunately, there are unscrupulous individuals who prey on returning OFWs, offering unrealistic returns on investments. If it sounds too good to be true, it probably is. Always do your due diligence before investing in anything. Check the legitimacy of the company or individual offering the investment. Consult with a trusted financial advisor. Remember, there’s no such thing as easy money.
Family Matters: Setting Expectations and Boundaries
Family relationships can be complex, especially after being away for a long time. Before you return, have an open and honest conversation with your family about your expectations and theirs. Discuss financial matters, living arrangements, and your plans for the future. Try to understand that changes are normal.
You may need to adjust to new dynamics within the family. Setting boundaries is essential to protect your financial well-being and your mental health. Be clear about what you can and cannot afford to give. Don’t feel pressured to support everyone financially. It’s okay to say no.
Communication is key, so open lines of communication can work wonders on your relationships at home.
Living Arrangements: Where Will You Hang Your Hat?
Deciding where you’ll live is a crucial part of your homecoming plan. Will you be moving back in with your family, building a new house, or renting an apartment? If you’re moving back in with your family, discuss expectations regarding space, privacy, and household chores. Building a new house requires careful planning and budgeting. Get several quotes from reputable contractors, and make sure you have all the necessary permits. Renting an apartment provides more independence but can be expensive. Consider the location, size, and amenities when choosing a rental property.
Health is Wealth: Taking Care of Yourself
Your health is your most valuable asset. Before returning, get a comprehensive medical checkup. Make sure you’re up-to-date on your vaccinations. If you have any chronic health conditions, consult with your doctor about managing them. Upon returning home, you might need to find new doctors to assist you and your family.
Access to healthcare can be different in the Philippines compared to where you worked abroad. Explore the available options, such as public hospitals, private clinics, and health insurance plans. PhilHealth, the national health insurance program, is available to all Filipinos. Understand how to use your PhilHealth benefits to cover your medical expenses.
Mental Well-being: Taking it One Step at a Time
Adjusting to life back home can be stressful. You may experience culture shock, homesickness, or difficulty reintegrating into your old routines. Take care of your mental well-being by practicing self-care. This could include exercise, meditation, spending time in nature, or pursuing hobbies. If you’re feeling overwhelmed, reach out to a therapist or counselor. There are mental health resources available online and in your community. Talk to someone you trust if you’re feeling sad, anxious, or lonely. It is important to take time and manage your stress levels. Do not allow yourself to reach your breaking point.
Finding Purpose: Life Beyond Work
Now that you’re back home, how will you spend your time? What will give your life meaning and purpose? Many OFWs feel lost or bored after being away for so long. Find new hobbies or activities that you enjoy. Volunteer your time to a cause you care about. Spend quality time with your family and friends. Consider furthering your education or learning a new skill. The Technical Education and Skills Development Authority (TESDA) offers various training programs that can improve your employability. The key is to find something that keeps you engaged and motivated.
Leveraging Your Skills: Bridging the Gap
The skills and experience you gained abroad are valuable assets. Think about how you can leverage them in your new life back home. Could you use your skills to start a business, find a job, or volunteer in your community? Start to connect with people, network or look for groups that have the same interests as you. Maybe you can teach, mentor or offer your expertise! Identify skills that are in demand in the Philippines and focus developing your skills further to open more opportunities.
Staying Connected: Maintaining Relationships Abroad
Just because you’re back home doesn’t mean you have to lose touch with the people you met and worked with abroad. Maintain your relationships with friends and colleagues through social media, email, or video calls. They can be a valuable source of support and networking opportunities. Consider also that your international contacts might be able to assist with your entrepreneurial plans, which might mean a lot of potential collaborations.
Documentation: Keeping Everything Organized
Returning home can be a bureaucratic nightmare if you’re not organized. Make sure you have all your important documents readily available. This includes your passport, visa, work permits, birth certificate, marriage certificate, academic records, and medical records. Make copies of these documents and store them in a safe place. You might also need to register with the Philippine Overseas Employment Administration (POEA) when you return. Check their website for the requirements and procedures.
Legal Matters and Repatriation: Avoiding Future Problems
Before leaving your host country, make sure you’ve settled all your legal obligations. This could include paying taxes, closing bank accounts, and terminating contracts. Resolve any outstanding issues before you leave to avoid future problems. If you encountered any legal issues while working abroad, seek assistance from the Philippine embassy or consulate.
Returning OFWs are entitled to certain benefits and assistance from the government. Contact the Overseas Workers Welfare Administration (OWWA) to learn about the available programs and services. The OWWA also provides assistance with repatriation in cases of emergency or distress. Check with OWWA if you have issues that need resolving.OWWA Programs and Services
Navigating the Bureaucracy: Patience is a Virtue
Dealing with government agencies in the Philippines can be challenging. Be prepared for long lines, paperwork, and delays. Patience is a virtue. Bring all the necessary documents and be polite and respectful to government employees. If you’re unsure about something, don’t hesitate to ask for clarification. You can also seek assistance from a fixer, but be cautious of scams. Asking assistance from someone you trust is also an idea.
PhilHealth and Social Security System (SSS): Knowing Your Benefits
As a Filipino citizen, you’re entitled to benefits from PhilHealth and SSS. Make sure you’re registered with both agencies and that your contributions are up-to-date. PhilHealth provides health insurance coverage, while SSS provides retirement, disability, and death benefits. Understand how to use your PhilHealth and SSS benefits to your advantage. Check their respective websites for more information. Making sure you are updated helps a lot in your needs. SSS is where you can also loan money if you are a legitimate member. PhilHealth can help pay for hospitalization and other medical expenses.
The Power of Networking: Connecting with Others
Networking is an essential skill for success in any field. Attend industry events, join professional organizations, and connect with people on social media. Build mutually beneficial relationships with others. Offer value to your network and be willing to help others. You never know where your next opportunity might come from. Sometimes going on networking events can help you meet like-minded people, or even find investors.
Continuous Learning: Staying Relevant
The world is constantly changing, so it’s important to keep learning and developing your skills. Take online courses, attend workshops, read books, and listen to podcasts. Stay up-to-date on the latest trends in your industry. Embrace lifelong learning to stay relevant and competitive in the job market.
Preparing for the Unexpected: Building a Safety Net
Life is full of surprises, both good and bad. Build a safety net to protect yourself from unexpected events. This includes having an emergency fund, health insurance, and life insurance. An emergency fund should cover at least three to six months of living expenses. Health insurance can help pay for medical expenses in case of illness or injury. Life insurance can provide financial security for your family in case of your death.
Saying Goodbye to Your Old Life (and Hello to the New)
It’s OK to grieve the loss of your old life and to adjust to a life you knew before. Allow yourself to miss the things about your life abroad, but start looking forward to your new adventures as well. Embracing the future is the key to a happy homecoming. It’s normal to feel a mix of emotions. Acknowledge those feelings and allow yourself time to process them. Talking to a therapist or counselor can be helpful in coping with the transition. Remember to focus on the positive aspects of your return: being closer to family, reconnecting with friends, and pursuing new opportunities.
FAQ Section
What’s the first thing I should do when I decide to return home?
First, create a detailed financial plan. Know where your money is, how much you have, and what your debts are. Start budgeting and planning how you’ll use your savings. This gives you a clear picture of your financial situation and helps you make informed decisions.
How can I avoid family members constantly asking for money?
Have an open and honest conversation with your family before you return. Discuss your financial plans and set realistic boundaries. Explain that you need to manage your finances wisely for your own future. It’s okay to say no, but do it respectfully and offer alternative forms of support, like helping them find jobs or resources.
Is it a good idea to invest all my savings in a business as soon as I return?
No, it’s generally not a good idea to put all your eggs in one basket. Starting a business is risky, and you could lose your entire investment. Start small and test your business idea first. Research the market, create a business plan, and seek advice from experts. Having a solid plan will reduce a lot of the stress.
Where can I go for help with finding a job in the Philippines?
The Department of Labor and Employment (DOLE) and the Philippine Overseas Employment Administration (POEA) can provide job search assistance. You can also check online job portals, attend job fairs, and network with professionals in your field. Moreover, you can sign up for job placement agencies.
What kind of government support is available to returning OFWs?
The Overseas Workers Welfare Administration (OWWA) offers various programs and services for returning OFWs, including livelihood assistance, skills training, and reintegration programs. Contact OWWA to learn about the available support and how to access it.
Call to Action
Your homecoming can be a fresh start, packed with potential. Don’t let common pitfalls derail your dreams. Start planning today by assessing your finances, setting realistic expectations, and learning about resources available to you. Your hard work deserves a smooth and successful transition back home. What will your first step be? Start with one today!
References
- Securities and Exchange Commission (SEC), Republic of the Philippines. Finding A Financial Advisor.
- Bangko Sentral ng Pilipinas (BSP). Consumer Affairs.
- Overseas Workers Welfare Administration (OWWA). Programs & Services.
