@Sydney2OnNoiseApp
One of the reasons why some people are suffering from poverty is because they don't even know how to handle their money and lack financial literacy. I have read that even if you are a small income earner but if you know how to invest and budget your money, you will become a wealthy compared to those huge income earner who spend their money lavishly. So my realization to this, a small income earner can still build wealth. It's a matter of self-discipline and management.
9 comments
I fully agree that a small income earner can build wealth. It takes a lot of time and discipline, but it's possible.
For me, it is. Espescially if you're living in a country where the cost of living is affordable.
That's true! And especially for you the Internet is a huge opportunity! 🤔 You can live in the Philippines while earning money internationally.
Exactly. In fact, living in a third-world country is not a curse but a blessing in disguise instead because you can choose to work and earn online especially if you're working virtually for US clients or EU clients and your converted salary can be more enough in a low cost living country.
For example the minimum salary here in Germany is about 2000$ a month. I think in the Philippines you can maybe buy a lot with that. I have heared that a lot of people from the Philippines work abroad to save money and come back. That's pretty clever too.
Yes, working abroad can be a smart choice but for me I do not like it. You have to split your salary into two: the expense while living abroad which can affect your salary espescially when working in a country where the cost of living is higher. Next, is the remittance for the family in Philippines. They're painting a good and beautiful life when thinking about OFW (overseas Filipino workers) when in fact, it's not like that at all. The truth is that nothing is left for them because they have to thrive in an costly country and the remittance they need to send. Working abroad is ideal if you're single but here in Philippines single ones work as a breadwinner (the one who financially supports the family) and their life is quite tough. On the other hand, I have seen success from the Filipinos working virtually for international companies. Others don't pay tax and the conversion rate is higher. Eventually, those people who find luck from the freelancing career become rich. Not to mention that they get their full salary as it is, whereas overseas Filipino workers only get the deducted salary because most of the time, the hiring agency gets a profit. What do you think about this?
Okay. I didn't know that sending money to the family is a big thing... 😔 I assumed that what is left over is only for you to save away... I think so too! Finding online work or freelancing is a huge opportunity in your country because you can keep living cheap while earning a lot! This might surprise you but there are people living in Germany who are working in Switzerland because salaries there are basically double of what you can earn here... It's the same like people from the Philippines working abroad. Here people just go to Switzerland. 😅
That's the truth. Every overseas Filipino workers are the family's breadwinners. This is why most of them can't even save money when returning to Philippines. Financial freedom is achievable for someone living in a third-world country working for a first-world country while living in the original country and enjoying the low cost living.
Oh ... I see.... 🤔😔 Yes! It's true! 😁