MANILA, PHILIPPINES – In a significant move to bolster the economic resilience of the country’s modern heroes, the Department of Migrant Workers (DMW) has instituted a new mandatory “Pre-Departure Financial Literacy Seminar” for all first-time Overseas Filipino Workers (OFWs), effective 01 July 2025.
The comprehensive four-hour module, which will be integrated into the existing Pre-Departure Orientation Seminar (PDOS), is designed to equip new migrant workers with the essential knowledge and tools to manage their finances wisely from the very start of their journey. The curriculum is a direct response to common challenges faced by OFWs and will cover critical topics such as:
Practical Budgeting: Teaching workers how to create and adhere to a sustainable budget that accounts for living expenses abroad while prioritizing remittances to their families back home.
Smart Remittance Practices: Informing OFWs of the various, cost-effective channels for sending money home, highlighting how to avoid high transaction fees that can erode their hard-earned income.
Scam Awareness and Prevention: Educating workers on identifying and avoiding sophisticated financial scams, including fraudulent investment schemes, fake loan offers, and other forms of financial fraud that specifically target the migrant community.
Long-Term Savings and Investment: Introducing basic concepts of saving and investing for the future, encouraging OFWs to view their earnings not just as a source for daily sustenance but as capital for building assets and securing a stable financial return and reintegration plan.
This initiative is a cornerstone of the DMW’s broader strategy under the Marcos administration to promote not just the protection, but also the prosperity, of Filipino migrant workers. By mandating this training, the government aims to transform the financial behavior of OFWs, empowering them to become savvy financial managers who can maximize their earnings, protect their families from debt, and build a solid foundation for a prosperous future upon their return to the Philippines. The program is a collaborative effort with financial institutions, economic advisors, and successful OFW entrepreneurs who will serve as resource speakers.
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