Basic premises: Financial literacy for overseas Filipinos

Many Filipinos have resorted to overseas employment as a solution to the survival of their families in the Philippines. Given that the  substantial portion of the earnings of many overseas Filipinos, particularly those in the service sector,  are already allocated for basic family needs such as food, shelter, clothing and education, there is little that could go to savings, and if at all,  answer for  the migrant worker’s needs, emergencies, and communication expenses.

On the other hand, there are also a good number of OFWs , particularly the professionals and others with higher salary levels, and  more disposable income, who  might be more receptive  to the idea of savings, investment and Financial and Estate planning.

At any rate, ERCOF believes that financial planning is still possible regardless of one's level of income or need, through the promotion of a Culture of Resource Management or Personal Financial Literacy, which basically means planning for one's future and maximizing one's resources. In that way, the end result is not only saving, but also a productive change in attitude in the way Overseas Filipinos and their families manage and spend hard earned income. ERCOF provides linkages to institutions that will assist them to adapt faster to this culture