iSavta | 17.03.2025

Working abroad is a big sacrifice. You leave your family behind, work long hours, and save as much as possible. But saving money alone is not enough—you need to make it grow. If you want a better future for yourself and your loved ones, here are some smart ways to grow your money while working abroad.

1. Set Clear Financial Goals

Before anything else, set clear financial goals. Ask yourself:

• How much do I need to save before going home?

• What do I want to do with my money—buy a house, start a business, invest?

• How many years do I plan to work abroad?

Having specific goals will help you manage your money wisely and avoid unnecessary spending.

2. Create a Budget and Stick to It

Many overseas workers send most of their salary home without keeping enough for themselves. While helping your family is important, you must also save for your future. Create a budget that includes:

• Savings (at least 20% of your income)

• Investments

• Emergency fund

• Daily expenses

• Family support

This way, you can support your family while securing your financial future.

3. Build an Emergency Fund

Unexpected situations happen—job loss, medical emergencies, or family problems. An emergency fund will protect you from financial stress. Save at least three to six months’ worth of expenses in a separate account so you can access it anytime.

4. Open a High-Interest Savings Account

Instead of keeping your money in a regular savings account, look for high-interest savings accounts. Some banks offer better interest rates, allowing your money to grow faster over time. Research banks in your home country and abroad that offer good rates with low fees.

5. Invest in Stocks or Mutual Funds

Investing allows your money to work for you. If you are new to investing, start with:

• Mutual Funds – A group of stocks managed by professionals.

• Stock Market – Buying shares of big companies that grow over time.

• Index Funds – Low-risk investments that follow the market’s growth.

You don’t need a lot of money to start investing—some platforms let you invest with as little as $50.

6. Start a Small Business

Many overseas workers dream of starting a business after returning home. But why wait? You can start small while still working abroad. Some ideas include:

• Selling products online (clothes, food, beauty items)

• Renting out a small apartment or property

• Setting up a sari-sari store (small shop) for your family to manage

• Investing in an existing business with a trusted partner

Having a business can give you extra income and financial security.

7. Consider Real Estate Investment

Buying property is a great way to grow your money. You can:

• Buy land in your home country and let its value increase over time.

• Rent out a house or apartment for passive income.

• Flip properties—buy, renovate, and sell for a profit.

Just make sure to research well and avoid scams before investing in real estate.

8. Try Side Hustles for Extra Income

Apart from your main job, you can earn extra money through side hustles, such as:

• Freelancing (writing, graphic design, virtual assistance)

• Teaching online (English, math, music, etc.)

• Affiliate marketing (promoting products and earning a commission)

• Blogging or vlogging (YouTube, TikTok, Instagram)

A side hustle can turn into a full-time income source in the future!

9. Send Money Home Wisely

Many overseas workers send money home regularly, but high remittance fees can reduce your savings. To save more:

• Use trusted money transfer services with low fees.

• Send money less frequently but in larger amounts to reduce charges.

• Teach your family how to budget and manage money better.

10. Learn Financial Literacy

One of the best ways to grow your money is by learning how to manage it properly. Read books, watch YouTube videos, or join financial literacy seminars. The more you know about money, the better you can handle it.

Final Thoughts

You work hard abroad, so make sure your money works for you too! By setting financial goals, saving wisely, investing, and finding extra income sources, you can secure a better future for yourself and your family. Start today—your future self will thank you!