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Pera Padala 101: Ways to Manage Money Remittances from Abroad

OFWs are the modern heroes of our time. It’s a statement that may have been overused, but it definitely holds truth. It requires a lot of courage and determination to be away from your loved ones, in exchange of giving them a convenient and bountiful life. Needless to say, their sacrifices are worth it as they are able to provide their family enough financial sustenance to get through every expenses. As for their families at home, it would only be wise to stretch out the budget and make good use of the amount being sent to them every payday. After all, that is money gained from the hard work of their loved one abroad. Here are just a few ways to manage money remittances from our OFW relatives:

Plan out your budget.

This requires proper timing. Communicate with your loved ones abroad on when they would be sending the next amount, or at least the time frame of their remittances. This would be vital as you need an accurate estimate of your expenses and how long you’ll have to wait for the next budget. This would allow you to stretch out the amount and make adjustments just to fit your everyday expenses.

Comparison of product prices.

There is a reason why OFWs love to haul in “balikbayan” boxes every time they pay their loved ones a visit in the Philippines. Items such as corned beef, toothpaste, and even shoes may also be found in our local malls and groceries, however, they are offered at a lower price in other countries due to economic differences, hence, it would be wiser to just save up on the monthly remittances by avoiding any expensive purchases, then asking our OFW loved ones to avail the items from their end instead.

Prioritize needs over wants.

This is related to the second pointer. You would not need to avail expensive apparels or gadgets here in the Philippines as their local prices are sky high. Since they are much cheaper abroad, you may just request your loved ones to avail the items from their end and bring it with them when they come home for vacation. In this way, the remittances you’d be receiving would be sufficient for needs such as utility bills, school fees, etc. Such wise decision would enable you to even save up for emergencies and other future use.

With all of these in mind, you and your loved ones are hoping for a remittance service that would only provide the smoothest transactions possible, with no hassle and delay along the way. Well worry no more, as we at Cebuana Lhuillier offer our Pera Padala Service, an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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