Pawnina Shares: Seven Overspending Sins That OFWs Commit And How To Deal With Them

Pawnina Shares: Seven Overspending Sins That OFWs Commit And How To Deal With Them


Hi there, Pawnina here! Right after Halloween, the holiday season is back to rule our lives. For OFWs, this means a coming home party. Of course, with that comes their balikbayan boxes. (Yay!)

Sure, most OFWs are wise with their financial management experience [Read: When In Abroad: Filipino Balikbayans Share Practical Money Saving Stories Away From Home], however, others tend to fall back with their finances from the extravagant lifestyle their surroundings offer, leading to bad financial habits.

We’re two months away until we set a new resolution, and if you are working abroad or know someone abroad here’s an eye-opener about the seven overspending sins OFWs commit. Old habits die hard they say, but let’s break them good.

GREED: When retail therapy/shopping just got them.

A lot of OFWs fall prey to the luxury surrounded to them, especially when they feel that their salary covers a whole lot more than what they’ve been used to spend. Shopping can also be therapeutic, but the happiness they get from material things are just temporary.

Oftentimes, this form of therapy leads to an excessive pursuit to material things which becomes detrimental to their financial health.  

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How to deal with it?  While it’s not bad to treat oneself, shopping here and abroad is not any different, there are branded items and there are branded items on sale. The bottomline: material things are everywhere. As an advice, setting a limit starts by treating oneself with a thing or two in a month and keeping in heart the very reason to work away from the home country: to earn, to save, to invest and to provide. Save now, enjoy later.

LUST: When they frequent bars or party places.

Parties, gatherings and the night life-these are what OFWs miss when they leave the country. It has been observed from tales abroad that Filipinos are indeed party goers. One can see them frequent Filipino bars as often as they can. YOLO is nice but too much can be stressful to the pocket. And when an OFW jumps into the desire of the party animal life, this spells financial mess.

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How to deal with it? No is the magic word. Be tagged as a kill joy from peers but saying no has its benefits. A bucket of beer just gives the headache and that dreaded beer belly. It is better to come home fit and healthy: both financial and personal well-being.

GLUTTONY: When they just can’t get enough dining at restos.

It’s not wrong to spend money on food? That’s a case to case basis, food is a basic need. But what’s sometimes a bad spending habit is to live above one’s means. The standard to live abroad is thrice than how OFWs used to live in the Philippines. The string of luxurious flavor that restaurant offers is a trap to the weak at heart. OFWs who can’t get enough of the treats from the restos end up living a lifestyle to watch out.

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How to deal with it? Yes, getting a taste of the luxurious life is not bad but overdoing it is. The budget you spend for dining out is a budget you can spend for groceries, think about that. Convert the currency into pesos and feel guilty. Often, that state of mind works.

ENVY:  When they spend too much to go places for travel’s sake.

The opportunity to explore is better now than ever, that’s one of the perks working abroad. Tho travelling entails a lot of benefits, still, money always count in the equation. OFWs feel the pressure to join their fellow to go cross out their wanderlust bucket list, but what comes wrong is sometimes, just because they wanted to do the things and go to places where others go they eventually go too far from their budget.

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 How to deal with it? Experiences can’t be bought, especially when it’s exploring places. People say when you’re abroad, grab the chance to explore. Yes, sounds easier said than done. But the money spent for travels can be the money invested for a business. Set a budget, and a portion of it deposited on an account which you cannot access abroad.

WRATH: When they succumb to gambling.

Gambling is one of the worse overspending sins an OFW can commit.  Wasting hard-earned money in a day for the luck of winning a pot of gold is an absurd risk especially for an OFW. 

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How to deal with it? Don’t ever try gambling. This is the start of an addiction. There are other forms of recreational activities that’s worth spending.

PRIDE: When they give I.O.U.s.

It is a misconception that when you are an OFW you have money to spare. Some OFWs tend to keep that image by showing off. They care more about their reputation than their budget. 

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How to deal with it? Don’t be a source of credit. Don’t be a source of a loan because the collateral is trust and relationship which can be damaging. Instead offer other convenient sources for accessing loans with affordable credit such as an online pawnshop, PawnHero.

SLOTH: When they think networking helps.

Easy money? Earning money without doing nothing, networking is a great passive income, WRONG! It is not. Most networking end up as a scam. Aplenty of our fellow countrymen abroad fell victim to these pseudo businesses because of the lack of financial literacy.

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How to deal with it? Be financially wise. Networking is not an effective passive income. Asking people to join and sometimes encouraging to sell unknown brands is not the key to a financial blessing. Learn legit investments. If a passive income is what you want, visit banks, there are investments there that can be both long-term and short-term. Research and learn. That’s the best way to deal with these income ghosts.

Saving money feels actually great and going broke isn’t. In any case you need affordable credit, you can pawn precious items at PawnHero. Learn how to get cash loans by visiting the PawnHero website. You can also download the PawnHero app so you can pawn ANYTIME, ANYWHERE. If a practical shopping experience is what you’re looking for as your holiday gifts, check out our online shop,

Don’t forget to like PawnHero Philippines and Marketplace by PawnHero on Facebook to get updates, join games and win cash prizes.

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Pawnina Bayani

Pawnina Bayani loves to shop, dine, and travel. She lives in a small yet cozy apartment with her cats and dogs. Her goal is to live life to the fullest, while still fulfilling her responsibilities. As a contributing writer for PawnHero, Pawnina brings tips and tricks on budgeting and saving, as well as practical advice on life and anything under the sun!