Why OFWs in Saipan, Other Countries Have Hard Time Saving

• Tweet
• Pin It

Ismael Lavarias, 53, left the Philippines 23 years ago to work on Saipan for the promise of a better life for his family, but it took a great deal of discipline, patience, and skills for this father of three to reach some level of financial stability.

He said he and his wife are at a point where, if they lose their job on Saipan today, they would be able to go back to the Philippines with enough savings to last them for months until they get another job or until they put up their own business.

“I don’t have a vice, and I think people having unchecked vices miss a great deal of opportunity to save at least a small portion of their earnings. For example, I’ve seen a lot of our fellow OFWs [overseas Filipino workers] spend nights going to night clubs or bars and spend on alcohol and other stuff they don’t really need, and end up without much savings or no savings at all,” Lavarias told Saipan Tribune in a weekend interview.

With his job as a heavy mechanic operator earning a bit more than the minimum wage, he was able to buy two parcels of land and build a house in Pampanga, send his children to school, and help other relatives in the Philippines.

His children are now grown up and are now able to help him and his wife. He said he is able to set aside $200 to $300 a month toward his savings.

Continue reading at Saipan Tribune