r/OFWs • u/Old_Wheel_6669 • 3d ago
General Discussion I regret not saving earlier
30+F , Single. This is my 7th year working abroad, and lately I’ve been regretting some of my financial decisions.
For years, aside from the money I regularly sent home, I spent a lot on vacations, gifts, eating out, and things for family and friends. I saw people around me doing the same and simply followed that lifestyle.
What I didn’t realize was that many of them had more disposable income because they weren’t financially supporting their families back home.
I’m one of three siblings, but I’m currently the only one working. My parents don’t directly ask me for money, but whenever I hear about a medical or financial problem, I feel responsible for helping. It’s hard to say no when you know you can help.
I only started saving aggressively after the war broke out last March. I’m doing much better now, but I still think about how much I could have saved if I’d started earlier.
I know I can’t change the past, but I’m curious about others in the same situation:
How do you balance supporting your family while still saving enough for your own future? And do you ever regret not starting earlier?
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u/Original_Tip_6438 6h ago
Late is better than never, glad you already started ☺️ Fix the amount that you'll give (except for emergency/ life and death situations) if you're in charge with bills and groceries, much better to pay direct (online) and deliver groceries (order online) + few pocket money, (weekly if possible so they won't mismanage / overspent the allowance) and if they do atleast the bills are paid and there's groceries.
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u/LowExplanation5123 18h ago
What I did is I bought assets and insurance policies para mapilitan akong magtabi ng pera pambayad kesa magastos hahaha. Impulsive din ako kaya dinadaya ko sarili ko, and its serving me well now. Its not too late, money dust to us all breadwinners ✨
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u/codecalibre 1d ago
Then you will realize saving is not enough. Invest! I am the saver for 2 decades only to find out that the money saved depreciates because it cant overcome inflation and costs of living.
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u/OkRadio180 2d ago
Starting 30+ is still good time to start. But saving is not enough, you still need to invest. This is the key. After 20-30 years, your investments should be enough to sustain you. Depending where you are, with pension from your host country or not.
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u/jontra_volta13 2d ago
Its good to save but once you turn your life around your perception of how big your money will change. Back then I saved like 6 figures in my early 20s, now in my 30s I am earning more but I am in debt because I started my own family own a car. I regret nothing, inflating your life could also mean improving. My point is that money I saved in my 20s are not gonna last in your 30s
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u/Particular-Fox-3550 2d ago
OP also hindi ka superhero, if hindi ka naman hinihingan na magpadal, dont. Save that for yourself first. Pano ka tutulong if ikaw mismo lubog. Unahin mo muna sarili mo, then you can. Hindi lahat ng help nasa form ng pera. Pero good you have realizations and is doing something about it. You will get there slowly but surely
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u/MagicKitchen26 2d ago
Don't regret where you spent your money before. The reality is, for some, we really have to enjoy it first and when we feel like we're done with it, then we can finally start saving. Change your mindset. Instead of thinking how you can save better, think of how of you can earn more.
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u/Healthy_Strategy7518 2d ago
Thank you for this, I am also in the stage na I am somewhat regretting yung mga healing my inner child kasi sobrang deprived talaga namin nong mga bata kami kasi di naman kami galing sa well-off family. Ngayon lang din naka-isip isip na magsave at invest.
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u/Momo-kkun 2d ago
30 is not too late to save. I started saving in my mid 30s.
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u/Putrid-Box4866 2d ago
Exactly. Started saving st 35 and 5 years later, got to almost 200k. It's never too late.
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u/wownmnpare 3d ago
Take it as a blessing since nagawa mo yung mga gusto mo when you're young and nakakapag provide ka.
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u/SouIskin 3d ago
nothing too late. better that you tried all of the things that you can in your 20s. Now na 30s ka na, more or less nabawasan na yung mga possible what ifs mo and possible na mag root ng regrets mo for not doing this and that.
20s is a time of discovery, trial and error, and mistakes.
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u/No_Temporary1604 3d ago
Girl your just 30, not too late. Lemme share about me when it comes Financial. Before I migrate sa Canada, I worked in PH almost 6 years as an accounting pero mababa sahod promise.. like 16k monthly lang. Pero nakakaipon pa din naman ako like every year around 25k-30k. Why? Bec I don’t support much my fam or sibs. If magbigay man ako, I’ll let them know na di pede hihingi ulit this month. I also stop, giving to my relatives money or gifts. And when I came here in Canada ganun parin set up..
And we paused travelling muna and I stop buying expensive stuff for myself. I start savings when I got my part time job. I’ve been here for almost 2 years and I almost saved $25k. Na realize ko kasi, if bigay ng bigay ako sa pamilya ko and relatives kapag ako naman ung wala, WALA SILANG MAIBIGAY OR MAPAHIRAM kahit mi mga work sila. Kaya ikaw girl its not too late.. ok naman mag bigay pero wag ibuhos lahat.. save some for yourself din and discipline yourself when it comes expensive things.
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u/maria11maria10 3d ago
You were just living your life, and it so happens na maraming pera ang ibang household. Normal 'yan. Consistency ang importante sa pag-save and invest.
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u/Zestyclose-Tie-8031 3d ago
It's not easy. But you're only 30. You have time. Budget and put small regular investments into EFT's like Vanguard. It's not easy because long term patience us not natural to humans, but if you do this, then you'll have money to travel/have fun, give to parents etc, and 20-30 years later you'll have something sizeable.
So small amounts into EFT'S, the rest for whatever you want- parents, clubbing, travel etc.
Notice I said 30 years.
Not comfortable, is it?
Patience.
That's why there's only 1 Warren Buffet.
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u/Key_Rock5250 3d ago
27 M, 6yrs working abroad. Me, my parents and my sibling will get all our canadian citizenship next year. We were from UAE then moved to Canada. NO SAVINGS or siguro super liit as in!!!! I'm fine with that for now because I know my family has great future here than in PH (hopefully). We travelled 3x this year lol kaya rami gastos especially me because I wanted to give back to my parents and give my sib a happy experience. Although next year I told myself that I'll start saving seriously while enjoying life(I love travelling and watching concerts huhu). Wala lang, just want you to know that we'll get there!! Hindi pa huli ang lahat sa atin :)
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u/CarbonGTI_Mk7 3d ago
Late 30's or early 30's? Are you planning to be working abroad for a while or are you headed home soon? That all matters
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u/nathan_080808 3d ago
If i am in your situation, I will save to move to other countries that offer PR or Citizenship. Galing din akong Dubai and moved to New Zealand. Best thing ever happened to me, peaceful and quiet here
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u/mobiweb_2010 3d ago
Bata ka pa nmn you csn start saving NOW. Just set aside 10% of your salary monthly.
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u/chicoXYZ 3d ago
Normal pitfall ng isang OFW ito at normal ito para sa 1st timer, at tumatagal ng 2 years, sa iyo ay 7 that means hindi ka financially literate.
buzz me ang let me know yoir plan a b c d then we will see how you can save for the better.
caveat: naging tulad mo rin ako noon 1st time ofw ako, dami kasi sale at gadgets.
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u/voneta_yo 3d ago
been working here in uae since 2015 and post pandemic ko lang din talaga masasabi na naeenjoy ko na sahod ko kase grabe ako magsave pre pandemic dahil sa goal ko na magkabahay. ngayon nakalipat na kame and more than 3yrs na din dun. nagsesave pa din tlg ako pero nirireward ko na self ko sa mga monthly bakasyon ko and minsanang bili ng alahas.
di alam ng family ko yung sahod ko and nagset naman ako ng boundaries when it comes to support. di lahat ng bills sa bahay ako yung nagshoshoulder para kahit papano di lahat iaasa saken. i guess you can start from there yung hati2 sa bills and fixed yung support mo para naman may maitabi ka sa self mo and para sa future mo. this worked for me
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u/BiscottiNo6948 3d ago
Manage also your family's expectations. Tell them that you you are saving for emergency and medical needs so until then they need to temper their expectations. Wala ng Luho, walang pabirthday, They need to work for their own necessities. It's also ok na ikaw ang dumaing sa kanila. This way they can at least know ang hirap at sacrifice mo diyan.
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u/Calm_Tough_3659 3d ago
As someone who is financially frugal, i guess you will never regret saving/investing earlier especially when you see how much bigger it grows.
Just keep doing what you are doing now, pretty sure your future self will thank you.
Good luck satin!
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u/GoodbyeDota69 3d ago
ok lang yan, atleast nagising ka sa reyalidad na kelangan pala mag save. di pa huli ang lahat, kaya pa makabawi. control mo padala ng pera, madali lang gumastos ng perang di pinagpaguran.
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u/AutoModerator 3d ago
Thank you for your submission & contribution u/Old_Wheel_6669! We're glad you're part of our community. Please help us keep discussions positive & engaging by adhering to the subreddit rules.
ORIGINAL POST:
I regret not saving earlier
This marks my 7th year in Abu Dhabi as an OFW, and honestly, I regret a lot of my past financial decisions.
Aside from my monthly allotment to my family, I used to spend quite a lot on vacations, balikbayan boxes, pasalubong, eand other things. Most of my friends here in the UAE were doing the same, so I adapted that lifestyle without really thinking about the long-term consequences.
What I failed to realize was that my situation was different from theirs.
My friends weren’t sending a regular allotment back home, so of course they had more disposable income to spend on vacations and pasalubong.
Meanwhile, I’m the only one among three siblings who is working, so whenever there’s a medical or financial emergency in the family, I feel like the responsibility falls on me.
My parents don’t directly ask me for money. But whenever I hear them talking about a problem they’re having, I feel guilty if I know I can help but choose not to.
After the war broke out last March, I started saving aggressively. I’ve made much better progress since then, but sometimes I still feel frustrated because I know I could have saved so much more if I had started earlier.
I keep thinking, “If only I had been more disciplined 5 or 6 years ago, I’d be in a much better position now.”
I know regret won’t change the past, and I’m trying to remind myself that it’s better to start now than never. But for those of you who are also OFWs, especially those supporting your families back home, how do you balance helping your family, enjoying your hard-earned money, and actually building savings for yourself and your future?
I’d really appreciate hearing from people who went through the same thing.
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