Posted on Leave a comment

Bongbong Marcos’ Destabilization Theory is Real – Local Remittance Surge is Clear Indication

remittance





welcome By: Elena Grace Flores

Bongbong Marcos discloses earlier that there are strong groups that are working to destabilize the Du30 administration. A study on remittance locally shows that there were suspicious funding movements.  Remittances to central bank-registered remittance centers in Northern Mindanao spike by 200 to 400 percent early February 2017. This is three months before the Marawi attack. Marcos also speculates that surveys in the same period tend to influence the mindset of people.






Youtube video by; Elena Grace Flores

[VIDEO]: Bongbong Marcos stresses that there are real groups that are working to destabilize Du30.




Much Needed Funding

Local remittances are crucial to funding the five-month siege led by the Maute and Abu Sayyaf groups. The IS terrorists in Marawi cannot sustain their deadly attacks without the daily payments. Private remittance centers flourish extremely at a high rate in 2017. This happens even in second-class municipalities like Jasaan, Misamis Oriental, which, for the longest time, only have two rural banks.




Constant International Remittance

Remittances from overseas workers remained constant. They account for just 25 percent of the total in the past three years. Since February 2017, there were no new local industries within Mindanao that logically explain the 200- to the 400-percent increase in the volume and value of daily local remittances within the region.




Anonymous Payments

Military sources cite the presence of cash couriers inside the Marawi main battle area during the siege. Some dead terrorists were found to possess cash ranging from P30,000 to P300,000. The Al Qaeda is known to utilize the informal hawala or padala system to fund terrorist attacks all over the world. Local residents have confirmed receiving money through hawala. It is an unregistered remittance scheme.

http://www.mediacurious.com/hontiveros-aims-to-discredit-du30-on-no-election-bongbong-marcos-on-wealth-issues/

Surge in remittances preceded IS attack on Marawi City

Posted on Leave a comment

Crisis amongst Filipino Overseas Workers



gemma

By: Gemma Lagasca

 

OFWOverseas Filipino Workers are the Philippine’s current “living heroes” as they say. Generally, they leave their families to work very hard abroad – as “strangers and pilgrims” in a foreign land to earn money. This is to secure their family’s financial future. Based on the government data, there were estimated about 1.4 million Filipinos legally working abroad as migrant workers and continuously increasing each day. Their remittances are continuously boosting the economy for the national treasury.  At the same time, they are the key for improving the living condition of their families.

Unfortunately, not all overseas workers have happy endings. It’s really heartbreaking to hear certain stories about hardworking Filipinos aiming to provide a comfortable life for the family but woke up empty-handed one day. The worst, some even lose their lives leaving their survivors picking up the broken pieces tearfully – to start all over again without the main provider.  Despite the odds, many responsible workers will still push themselves to continue their journey abroad. It is not easy to survive in a foreign land but this article intended to remind those who are still going for greener pasture to learn from the mistakes of others. Here are the common issues with OFWs:

Family Issues

Marital problems top the list of OFW woes. The distance is the biggest threat in tearing apart a good relationship. Some overseas workers think that as long as their family is provided for, their duty ends up there. They probably forgot that the spouse who is left behind is assuming the responsibility of a father and a mother at the same time. The toughest situation is when they are neglected driving the affected to have an affair outside the marriage. If there are more than two children, it’s more likely that some of them will not be guided properly.

Open communication is vital for a long distance relationship. Make sure to set a constant schedule to reach out to your family and listen to their stories and experiences every day.  We should be thankful enough that we are now in the technology era wherein we can talk, cry, laugh or giggle with our loved ones anytime we wanted through Skype or video call. For couples, texting simple messages sealed with love every day will keep help keeping their relationship intact.


Financial Matters

Improper money management and having not enough financial knowledge are few reasons why OFWs go home with nothing. Here are some of the common money-related mistakes:

1.    Uncontrolled spending. The family gets carried away with the concept of having a “dollar provider”. The lifestyle will suddenly change – having more leisure activities, updated gadgets, dining out and fabulous vacations out of town.

To avoid all of these, exercise a good discipline in spending. Don’t think that you’re earning big that your lifestyle will go along with it. Do not let your income catch up with your wants—it will gradually pull you down into a hole of depth if you will allow this to happen.

2.    Depositing all your income to the family. Sending all the money will not be a problem at all if you have a budgeted plan with your partner. It should be clear to both where all these money will go.  However, this is not the case for most families. It should have been better if you have your own savings account to set as aside at least 20% of your monthly pay or more if you can. Send the family’s regular budget but set aside a certain amount for emergency fund.

3.    No long-term financial plans. Many OFWs and their families are enjoying life to the maximum level. They forget about the future especially when the contract ends. Take note that the future will not take care of itself alone. Don’t delay. Start preparing for it now! Set your dream for your family and begin saving and invest in mutual funds or retirement plans.

4.    Involve and teach your family members in managing your finances. OFWs tend to compensate the loneliness of their loved ones with material things. The kids can possibly grow like spoiled brats without any sense of responsibility. This approach is definitely wrong. Proper budgeting goes to every family member. This way, they will realize the value of your hard work.
Remember that the money you are earning now is the time you spent away from your family – so make sure to have enough to live comfortably when you are back.

Image Source: Junaidghumman