How can you solve poverty in the family?

(Photo Credit: Facebook)
(Photo Credit: Facebook)

In these hard and trying times, we ourselves must do our share in solving poverty in the country, and not just keep on blaming the government, politicians, and the elite groups of people.

Responsible decision-making is the key to success, coupled with hard work, patience and determination to meet our goals in life. Parents have the obligation to teach their children the value of studying and working, instead of having a mindset of relying on someone else as they get older.

1. Study hard and get good grades.

While still given a chance to study in a good school or university, children should have the responsibility to study well. A lot of children are not given the chance to get a good education, mainly due to poverty and parent’s hardship. Avoid any unnecessary distractions with their studies, aside from setting their priorities straight. Don’t just be contented with having passing grades in a particular subjects. Aim high and get an honorific award, such as Cum Laude, Magna Cum Laude, or Summa Cum Laude. This will give them a better chance to land a dream job.

2. Work overseas while still young and single.

After college graduation, it is normal for a college graduate to seek work here in the Philippines to gain work experience along his finished course. If you are thinking of working overseas, well, do so while you are young — and single. It may seem more attractive for those who can’t find gainful employment locally. Aside from having the opportunity to earn higher salaries abroad, which could help in building a long-term and stable financial future, it will also minimize family separation (spouse and children) in the future; after getting married. This kind of practice would minimize the adverse effects of broken families among married OFWs.

3. Save and invest as much as they can in long-term financial instruments.

While working overseas, it is their obligation to secure family’s future by saving and investing in long-term financial instruments, such as stocks, mutual funds, UITF’s, etc. This way, fund invested will grow faster, thus, they could reach financial goals faster,too, especially during the time of their retirement, children studying in college, as well as to meet periodical needs and wants in life, such as to travel, buying luxury items, etc.

It is recommended for single OFWs to save at least 40-60% of their take home pay. Living overseas is very expensive; thus, it is more practical for them to limit expenses to basic necessities in life, and if possible, avoid luxuries and focus more on having additional job to earn more money. However, OFWs must take good care of their health condition, especially those who have reached 40 years old and above.

4. Have an additional source of income aside from remittances being sent to them.

There must be a specific goal — that a spouse, dependent, or trustee, must have an additional source of income, and not just rely on to the remittance being sent by the OFW every payday or a few months. This way, if any untoward incident happens, such as the occurrence of war, epidemic, natural calamity, or any labor-related problem with the company he works for, his family could encourage the OFW to come back home to start a new life here in the Philippines.

5. Find a partner who is already financially stable.

If you are a responsible OFW, it seems more practical to have a partner who is also already financially stable. It would help if that partner is also an OFW who has some savings and investments. That means you have better chances in fighting poverty. Being locally employed is also all right if your partner is with a good company or has a business that is doing well. If you wish to get married, having your own house first and being sure that you have sufficient savings together is a positive sign towards having a brighter family life. Being away from children for too long years is not good, so everything should be well planned including timelines.

Studies have shown that if a person is already financially stable, that usually equates with knowing the value of money and hard work.


The key to fight poverty is preparation, discipline and determination. Prepare to set goals and work towards achieving them. Discipline yourself towards having organization in everything you do. Set timelines. Practice positive attitude at work and in your personal life. Live within your budget and make sure to always save a portion of what you earn.

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