The COVID-19 pandemic has affected the lives of everyone especially most of the Overseas Filipinos (OFs) in different parts of the world. For some, there were salary cuts, temporary suspension of deployment contracts, or even repatriation. Naturally, many OFs are worried about health and safety, job security, finances, and the welfare of their families.
To help them cope with their new economic realities, Bank of the Philippine Islands (BPI) and BPI-Philam offer seven (7) simple tips:
- While everything seems to be on pause, take some time to assess and check on your goals. Ask yourself the following questions: “Am I already close to reaching my goals?” “What else can I do to reach my goals faster?” When you’re reminded of your life goals, you’ll be more encouraged to get back on track.
- Now that you have assessed your targets. It’s time to determine your priorities. We have to make the most out of the situation brought about by the pandemic. What are the most important things for you now? What are you planning to do about them? When you start to figure these out, it will be easier for you to think of your next steps.
- Look for trusted partners who will help you in your “rebuilding journey.” Find yourself trusted advisors or mentors who will guide you in the process. They can be your family, friends, authorities, and the government. You can also consider seeking advice from your bank partners, when it comes to your financial concerns.
- Protect your most valuable assets. The pandemic made us realize the things we take for granted. Take care of your family’s health and well-being, secure your investments and savings.
- The pandemic has caught us unprepared, and made us realize the importance of spending time with people who matter to us. Use this time to create meaningful memories with your families and loved ones.
- Community quarantines and lockdowns presented occasions for us to learn new things. While we are staying at home, feel free to explore new hobbies, things to learn, and nurture your skills. These can keep you occupied and productive, and you may earn additional income, too.
- Prepare yourself physically and mentally. Once you set your mind with the changes you have to embrace, you will be ready to face the “new normal”.
“What’s happening right now is temporary, we still have a finish line to reach,” said Ms. Lamasuta, BPI Head of Retail Segments. “In order to do so, we must learn to nurture our finances, goals, relationships, and our health. We hope to assist our overseas Filipinos by giving them sound advice so that they can get back to the race and finish strong.”