Coming home after working abroad is a big dream for many Overseas Filipino Workers (OFWs). But making that dream a reality and building a good life back home takes planning and effort. This article is your friendly guide to help you navigate that journey, covering everything from managing your money to finding the right opportunities and adjusting back to the Filipino way of life.
Planning Your Return: More Than Just Buying Souvenirs
Before you even pack your bags, start thinking about your “balikbayan” plan. This isn’t just about what pasalubong to bring; it’s about the big picture: What do you want your life to look like when you return? How will you support yourself and your family? According to the Philippine Statistics Authority (PSA), understanding the current economic landscape can help you better plan your finances.
First, let’s talk about your goals. Are you hoping to start a small business? Build a house? Retire comfortably? Write down your goals. Be specific. Instead of “start a business,” try “open a small coffee shop near the local market.” The more specific you are, the easier it will be to create a plan to achieve it.
Next, assess your financial situation. How much money have you saved? How much debt do you have? Knowing your numbers is crucial. Don’t be afraid to seek advice from a financial advisor, especially one familiar with the challenges and opportunities faced by OFWs. It’s a good idea to create a budget too, figuring out how much you spend each month and where you can save.
It’s also important to think about any skills or knowledge you’ve gained while working abroad. These skills can be valuable assets when you return. For instance, if you worked in customer service, you can use those skills in a business or even in a local call center. Consider enrolling in short courses while still abroad to further enhance these skills. TESDA, the Technical Education and Skills Development Authority, offers various online courses that you can take at your own pace.
Handling Your Hard-Earned Money: Smart Saving and Investing
Saving and investing are key to a sustainable life back home. It’s not enough to just save money; you need to make your money work for you. Start by creating a savings plan. Set a target amount and make regular contributions to your savings account. If you can, automate your savings so that a certain amount is automatically transferred each month. This simple trick can make saving a lot easier.
Now, let’s talk about investments. There are many options available, from low-risk options like time deposits and government bonds to higher-risk options like stocks and mutual funds. Before investing in anything, do your research. Understand the risks involved and choose investments that align with your risk tolerance and financial goals. Don’t put all your eggs in one basket. Diversify your investments to reduce risk.
Real estate is a popular investment option for OFWs. Many dream of owning a home or property back in the Philippines. But be careful. Do your due diligence before buying any property. Check the title, research the developer, and make sure the property is located in a good area. It’s a good idea to consult with a real estate agent or lawyer to help you navigate the process.
Avoid get-rich-quick schemes. If it sounds too good to be true, it probably is. There are many scammers out there who prey on OFWs. Be wary of anyone who promises you guaranteed returns or asks you to invest a large sum of money upfront.
Starting a Business: From Ideas to Income
Many OFWs dream of starting their own business when they return home. It’s a great way to be your own boss and create a livelihood for yourself and your family. But starting a business is not easy. It requires careful planning, hard work, and a bit of luck.
First, you need a good business idea. Think about your skills, interests, and the needs of your community. What are you good at? What do people in your area need? A popular idea is a food business, especially if you have a unique recipe or culinary skill. Other ideas include a convenience store, a laundry shop, or an online business. According to the Department of Trade and Industry (DTI), the DTI offers free business seminars and consultations to help aspiring entrepreneurs.
Once you have a business idea, create a business plan. This plan should outline your business goals, strategies, and financial projections. A well-written business plan will help you stay on track and secure funding from banks or other investors. Consider the SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to understand your business and the environment you’ll be operating in.
Don’t be afraid to start small. You don’t need a lot of money to start a business. Start with what you have and gradually grow your business over time. Many successful businesses started in a garage or kitchen. The important thing is to start and learn as you go.
Marketing is also important. Let people know about your business. Use social media, flyers, and word-of-mouth to promote your products or services. Offer special discounts or promotions to attract new customers. Provide excellent customer service. Happy customers are more likely to return and recommend your business to others.
Finding a Job: Putting Your Skills to Work
If starting a business isn’t your thing, you can always find a job back home. While salaries in the Philippines may be lower than what you earned abroad, there are many opportunities available, especially in growing industries like IT, healthcare, and tourism.
Update your resume and cover letter. Highlight your skills and experience, especially those that are relevant to the jobs you’re applying for. Tailor your resume and cover letter to each job you apply for. Don’t just send out the same generic resume to every employer.
Use online job boards like JobStreet and LinkedIn to find job openings. Network with friends, family, and former colleagues. They may know about job opportunities that are not advertised online. Attend job fairs and career events. This is a great way to meet employers and learn about different industries. The Philippine Overseas Employment Administration (POEA) also provides job matching services for returning OFWs.
Prepare for job interviews. Research the company and the position you’re applying for. Practice answering common interview questions. Dress professionally and arrive on time. Be confident and enthusiastic. Show the interviewer that you’re the right person for the job.
Consider your salary expectations. Be realistic about what you can earn in the Philippines. Research the average salary for the position you’re applying for. Don’t be afraid to negotiate, but be reasonable. Remember, it’s not just about the money. Consider other factors like job security, benefits, and opportunities for advancement.
Adjusting to Life Back Home: Dealing with Culture Shock (Again!)
Adjusting back to life in the Philippines can be challenging, even though it’s your home country. You may experience reverse culture shock. Things may have changed while you were away. You may find it difficult to adjust to the slower pace of life, the traffic, and the cultural differences.
Be patient with yourself. It takes time to adjust. Don’t expect to feel completely comfortable right away. Give yourself time to settle in and get used to your new surroundings. Reconnect with friends and family. They can provide support and help you adjust to life back home. Spend time with them, share your experiences, and listen to their stories.
Get involved in your community. Join a local organization or volunteer your time. This is a great way to meet new people and make a difference in your community. Embrace the Filipino culture. Participate in local festivals, learn the local language, and try the local cuisine. This will help you feel more connected to your community.
Manage your expectations. Don’t expect everything to be perfect. There will be challenges. Focus on the positive aspects of life in the Philippines. Appreciate the warm weather, the friendly people, and the beautiful scenery. Remember why you wanted to come home in the first place.
Staying Connected: Maintaining Relationships with Friends and Family Abroad
While you’re building a life back in the Philippines, it’s important to maintain your relationships with friends and family who are still abroad. They’ve been a support system for you, and you likely have a strong bond with them.
Use technology to stay connected. Video calls, messaging apps, and social media make it easy to communicate with people all over the world. Schedule regular video calls with your friends and family. Share your experiences, listen to their stories, and offer support. Send them messages or emails to let them know you’re thinking of them. Like a quick “thinking of you!” can go a long way.
Plan visits when possible. If you can afford it, consider visiting your friends and family who are still abroad. Or, invite them to visit you in the Philippines. This is a great way to strengthen your relationships and create lasting memories. Even simple things like sending Pasalubong when you can is enough.
Remember that relationships require effort. Stay involved in their lives, even from a distance. Celebrate their birthdays, offer congratulations on their accomplishments, and provide support during difficult times. These little gestures can make a big difference.
Resources and Support: Where to Go for Help
Returning to the Philippines and building a new life can be overwhelming. Fortunately, there are many resources and support programs available to help OFWs. The government offers various programs to assist returning OFWs. Look into the National Reintegration Center for OFWs (NRCO), which provides training, counseling, and financial assistance. There are also numerous non-governmental organizations (NGOs) that offer support to OFWs and their families such as OWWA, the Overseas Workers Welfare Administration.
Attend workshops and seminars. These events can provide valuable information and skills to help you start a business, find a job, or manage your finances. Join support groups and online forums. Connecting with other returning OFWs can provide a sense of community and support. You can share your experiences, ask questions, and learn from others who have been through the same thing. Seek professional advice. If you’re struggling with financial, legal, or emotional issues, don’t hesitate to seek help from a professional. A financial advisor can help you manage your money, a lawyer can help you with legal issues, and a counselor can help you cope with stress and anxiety.
Utilize the resources available at your local government unit (LGU). Many LGUs offer programs and services to support returning OFWs, such as livelihood training, job placement assistance, and financial assistance.
FAQ Section
What’s the best way to transfer my money back to the Philippines?
There are several ways to transfer money to the Philippines, including bank transfers, money transfer services like WorldRemit, Remitly and online platforms like PayPal. Compare the fees and exchange rates of different options to find the most cost-effective solution. Consider using a bank that specializes in international transfers.
How can I find a reliable financial advisor in the Philippines?
Ask for referrals from friends, family, or other OFWs. Look for advisors who are licensed and experienced in working with OFWs. Check their credentials and reviews online. Schedule a consultation to discuss your financial goals and make sure you feel comfortable working with them.
What are the requirements for starting a business in the Philippines?
The requirements for starting a business vary depending on the type of business and its location. You’ll typically need to register your business with the Department of Trade and Industry (DTI) for a single proprietorship or with the Securities and Exchange Commission (SEC) for a corporation. You’ll also need to obtain the necessary permits and licenses from your local government unit (LGU) and other relevant agencies.
How can I improve my chances of finding a job in the Philippines?
Update your resume and cover letter. Highlight your skills and experience, especially those that are relevant to the jobs you’re applying for. Network with friends, family, and former colleagues. Attend job fairs and career events. Consider taking short courses or training programs to improve your skills. Be patient and persistent. Don’t give up if you don’t find a job right away.
How can I cope with reverse culture shock?
Be patient with yourself. It takes time to adjust. Reconnect with friends and family. Get involved in your community. Embrace the Filipino culture. Manage your expectations. Focus on the positive aspects of life in the Philippines. Talk to other OFWs who have returned home.
What are the advantages of investing in real estate?
Real estate can offer passive income through rentals, potential capital appreciation, and serves as collateral for loans. It can be a tangible asset and a hedge against inflation.
References
Philippine Statistics Authority (PSA)
Technical Education and Skills Development Authority (TESDA)
Department of Trade and Industry (DTI)
Philippine Overseas Employment Administration (POEA)
Overseas Workers Welfare Administration (OWWA)
Your journey from working overseas to building a fulfilling life back home is absolutely possible. It’s a path that requires hard work, planning, and a positive mindset. Don’t be afraid to ask for help, learn from others, and adapt to the challenges along the way. Take that first step towards your brighter future today. Start planning, saving, and dreaming of your life back in the Philippines. Believe in yourself, and you’ll be surprised at what you can achieve. Reach out to the links mentioned above. Make your dream a reality!
