Cecilia Concepcion earned a degree in Management and minors in Literature (in English) and Enterprise Development from Ateneo de Manila. In her years in the University, she participated in various organizations such as AIESEC and Ateneo Special Education Society (SPEED).
In AIESEC Ateneo, she had the opportunity of creating and eventually leading Project Asenso, a Global Community Development Program that aimed to assist micro-entrepreneurs through learning opportunities on entrepreneurial strategies and financial management. These seminars were conducted by foreign volunteers themselves—with the help of SEDPI as a consulting learning partner. This inspired her to join the company eventually.
Aside from this, she also participated in various advocacy projects for SPEED and served as the Public Relations Head of the organization in her senior year. Through these organizational activities, she was exposed to different players in the development sector.
Her experience as a Management major also provided her with different opportunities such as establishing a start-up called Urban Gardens PH with a group under the School of Management Business Accelerator (SOMBA) program that mentored the start-up, as well as being a part of the Final 4 in the School of Management’s Marketing Business Plan Competition.
Through these various organizational activities and background as a Management major, she was further encouraged to participate in development for a better Philippines.
Many overseas Filipino workers face problems with loans. A program for OFWs in Hong Kong is helping change that.
By: David Lozada
LOANS. Overseas Filipino workers flock a street in Hong Kong known to host a number of loaning agencies and pawnshops. Photo by David Lozada/ Rappler
HONG KONG – In a crowded street in central Hong Kong, overseas Filipino workers (OFWs) line up in front of pawnshops and loan agencies. The crowd starts to thicken even before the offices open.
For domestic helper Maria Wilma Padura, the scene is all too familiar.
The 43-year-old has been an OFW in the city for 18 years, working multiple jobs to raise her family back in the Philippines.
“It’s a common problem among OFWs. Many of us are neck-deep in loans. I’ve been taking loans for years before I learned to manage my finances,” Padura said.
According to her, the problem starts even before OFWs leave the Philippines.
“When you leave the country, you take a loan to pay for the placement fee. You pawn your properties just to pay. When you get here, you have to adjust to the living expenses,” Padura said.
She added: “Aside from paying off the loans, you have to pay for your children’s education and the expenses of your family. When an emergency comes up, you really have no choice but to take another loan.”
Many OFWs in different countries face problems with loans. Many fall victim to loan sharks while some are forced to run away. Some end up using their passport as a collateral so they end up overstaying their visa and forced to go home. Some even end up in prison. (READ: Debt bondage: The scourge of OFWs)
Statistics from Hong Kong’s Immigration Department show that, as of February 2015, there were a total of 173,726 Filipino domestic workers in Hong Kong. This was an increase of nearly 7,000 for the same period in 2014, when a total number of 166,743 Filipino domestics were recorded.
OFW problems
This problem is what the Social Enterprise Development Partnerships Inc (SEDPI), in partnership with the Ateneo School of Government (ASOG), wants to solve in their Financial Literacy, Leadership, and Social Entrepreneurship (FLSE) workshop for OFWs on Sunday, May 29.
“OFWs need to manage scarce resources. They need to focus on making their hard earned money productive,” Vince Rapisura, president and chief executive officer of SEDPI.
Some OFWs present in the workshop have been working in the city for 20 to 30 years. Before leaving for Hong Kong, the participants admitted that they only wanted to work abroad for up to 10 years so they can be with their families back home.
“This is the case for many OFWs. They end up staying too long abroad because they mismanage their finances,” Rapisura said.
According to a study conducted by SEDPI, around 57% of OFWs who attend their workshops struggle to meet their daily needs. Some 33% struggle to find funds to finance businesses or sources of income back in the Philippines while 14% struggle to fulfill their financial obligation to their nuclear family.
The same study found out that despite the challenges, OFWs’ top financial goals and dreams are to achieve the following:
Permanent work or source of income (72%)
House and lot (31%)
Happy and prosperous family life (28%)
Education (27%)
Help nuclear family (13%)
Retirement (13%)
Move out of poverty (3%)
“It’s interesting to note that most OFWs want to create permanent work or sources of income in the Philippines. Their end goal is still to go home and live in the country,” Rapisura said.
SEDPI is a capacity-building institution that trains provides training, research and consulting services in micro finance, social entrepreneurship, and financial literacy for OFWs and locals organizations in 27 countries. From an initial capital of P45,000 (US$1,027), the financing company now has P268 million ($5.737 million) based on audited financial statements in 2015.
Active vs passive income
FINANCIAL LITERACY. SEDPI President and CEO Vince Rapisura teach overseas Filipino workers how to manage their finances. Photo by David Lozada/ Rappler
Rapisura encouraged OFWs to increase their investments to achieve eventual financial independence.
Active income are earnings gained through work and employment while passive income are received on a regular basis with little effort required to maintain it, like stocks, mutual funds, and real estate rentals.
“As a rule, you should use your active income to pay for your needs while you use your passive income for your wants,” he said.
Most OFWs, Rapisura noted, barely differentiate between needs and wants. This becomes the root of their and their families financial problems.
“You need to change your perspective. You should encourage your family back home that their expenses on needs must come from them and expenses on wants/ goals must come from income abroad,” Rapisura said.
He added: “If you don’t have control over their spendings and your own income, you’ll end up staying here in Hong Kong for a long time.”
Road to financial independence
NO MORE DEBT. Domestic helper Maria Wilma Padura achieved financial independence after joining the LSE program. Photo by David Lozada/ Rappler
Padura was part of the FLSE in 2013. She said the program helped her achieve financial independence.
“When I became part of the program, I was still neck-deep in loans. I didn’t know how to manage and budget my resources. I applied what I learned about financial literacy and before I finished the course, I was able to pay off all my loans,” she said.
Aside from paying off her debts and helping her sister finish her education, Padura is paying forward and want to help other OFWs currently in debt. She founded the Passi City, Iloilo Association of OFWs in Hong Kong in 2003. In 2015, she organized the Passi City Balik sa Bayan Incorporated to help OFWs who come home start their own businesses and investments. The Iloilo organization is currently undergoing the same FLSE program.
Padura was awarded in Outstanding Community Leader Award in 2015 and a finalist of Bayaning Pilipino sa Asia Pacific in ABS-CBN’s Gawad Geny Lopez. The local government of Passi City also gave her a Golden Heart Award and Outstanding Passino Award in March 2016.
“I taught my family how to manage their finances properly. I still help them but I don’t pay for all their needs anymore. I learned to say no when needed, which is very difficult for us OFWs,” Padura said.
While many OFWs struggle to become financially independent, Padura said it is possible with the right mindset on saving and budgeting.
For Rapisura, the training is a service to the country’s modern heroes, who seldom end up broke after spending decades working abroad.
“SEDPI would like to harness the power of OFW remittances to contribute to nation building. We need to teach them how to become responsible consumers for their families and themselves,” Rapisura said.
He added: “Remember, your most valuable asset is you. This is more relevant if you’re the sole breadwinner for your families.” – Rappler.com
For many Filipinos, the lure of working overseas is plain and simple: money. A higher take home pay enables them to provide their family with a better life.
Earning in terms of a stronger currency allows the overseas Filipino to buy more pesos.
In 2015, the number of overseas Filipino workers (OFWs) was estimated at 2.4 million. Remittances reached $22 billion as of end-November 2015.
But not all is well in the land of OFWs, wherever it may be.
A 2011 study by Social Enterprise Development Partnerships Inc. sounded the alarm bell.
One out of 10 OFWs is financially broke. Eight out of 10 of those who return to the Philippines have no savings.
Despite a higher earning power compared to working the same job in the Philippines, why are they coming bank without any savings or investment?
The primary reason Filipinos aim to work abroad is the higher pay which enables them to provide a better life for their families, whether in the Philippines or abroad. For OFWs working in developed countries such as the USA, the UAE, and Singapore to name a few, they are earning in stronger currencies which allow them to buy (and save) more pesos.
Obviously, it’s not how much you earn, it’s how much you save.
Financial planning is not only about increasing your income.
Here is a guide to financial planning for those who live and work abroad.
OFWs are sometimes tagged as modern-day heroes. They sacrifice the time with their family for a better life. Behind the pictures and the social media posts lies the truth –being an OFW isn’t easy.
OFWs move their lives to settle into a country they know little about and immerse themselves in a whole new culture, language, traditions, and people. Such challenges may be rewarded with a better income.
Obviously, best thing to do is to maximize your earning capacity. Saving and investing are keys to when the time comes, you can go back home to the Philippines with wealth both in terms of finances and experience.
BETTER BUDGETING. Around 60 overseas Filipino workers in Hong Kong participate in financial literacy training by SEDPI and the Ateneo School of Government. Photo by David Lozada/Rappler
A financial expert says many overseas Filipino workers send most of their earnings to their families – and fail to save for themselves – because they feel emotions such as guilt and shame
HONG KONG – What emotions are preventing overseas Filipino workers (OFWs) from achieving financial success? What needs to change?
For Analyn Regulacion, a domestic helper in Hong Kong for more than 5 years, it was guilt.
“My relatives would blackmail me emotionally, especially my siblings, to give them financial support. If I don’t give them money, they would make me feel guilty. I would cry by myself because I couldn’t help them,” a teary-eyed Regulacion recalled. (READ: Changing mindsets: Teaching financial literacy to OFWs in HK)
She added: “I left the Philippines when my child was only 3 months old to work abroad. I was able to send all my siblings to school but I realized I was left behind. I wasn’t saving for myself.”
This is common for many OFWs, who usually send most of their earnings to their families back home. In March 2016 alone, OFW remittances hit a record-high $2.7 billion.
According to the National Economic and Development Authority (NEDA) in 2012, the Philippine economy cannot do without cash remittances from its overseas workers. Cash sent to the country, the World Bank also noted, is a “key factor” for the Philippines’ resilience.
Emotions blocking financial success
Aside from guilt, Social Enterprise Development Partnerships Inc (SEDPI) president and CEO Vince Rapisura said fear, anger, envy, and shame also prevent OFWs from being financially independent.
“Because of shame, for example, we tend to cover up reality with luxuries we cannot afford. We want to save our family name by tolerating bad financial habits and solving other members’ financial problems,” Rapisura said during a Financial Literacy, Leadership, and Social Entrepreneurship (FLSE) workshop for OFWs on Sunday, May 29.
Envy is another problem, according to Rapisura, as OFWs may feel discontent with their achievements and compare these with other OFWs’ accomplishments.
To help counter bad financial habits, Rapisura encouraged OFWs to focus on positive emotions – courage, joy, and contentment.
Financial stages
EYE-OPENER. Domestic helper Analyn Regulacion says learning financial literacy will help her end her stint as an OFW in Hong Kong. Photo by David Lozada/Rappler
During the workshop, Rapisura showed OFWs a guide to help them monitor their resources – the so-called financial life stages.
“The financial life stages provide a guide for people to assess their financial health. It provides a framework for people to understand what to prepare financially to enjoy a full and meaningful life,” he said.
Based on the framework, workers are encouraged to start saving from 21 to 22 years old, when most people enter the workforce.
The financial independence stage, when passive income is expected to increase to up to 10%, comes at 23 to 25 years old.
The growth stage, from 26 to 45 years old, is when passive income is expected to grow from 11% to 50%.
The stabilization stage, when the highest income is enjoyed and expenses start to decrease, is from 46 to 60 years old.
The ultimate goal is to achieve financial freedom at the age of retirement or 60 years old.
Many of the 60 OFWs who attended the workshop expressed disappointment over their savings while working abroad.
“I was able to help my relatives while I was the one feeling miserable away from them. I realized I should be helping myself [attain financial independence] first,” Regulacion said.
Most important asset
Rapisura emphasized that while OFWs need to support their immediate families, they should, first and foremost, take care of themselves.
“Remember that your most important asset is yourself. Build your courage and gain the confidence to be self-sufficient and self-reliant,” Rapisura said.
He added: “At our age, money management is a life skill that we should be able to master to gain financial freedom in the shortest possible time.”
For OFWs like Regulacion, the workshop was an eye-opener.
“There are so many things I should have been doing the past years. I did not have any financial plans before this session but now I know how much I should be saving. I now have a target of when I will end my work here in Hong Kong and go back home,” she said.
The event was held in partnership with the Ateneo School of Government (ASoG), Wimler Foundation, UGAT Foundation, and the Overseas Filipinos’ Society for the Promotion of Economic Security (OFSPES). After completing tasks in other online courses and modules, OFW participants will be awarded a diploma on FLSE by ASoG. – Rappler.com
Do you want a job in development and explore the Philippines? Are you interested in development work in microfinance, social entrepreneurship, and financial education?
SEDPI is currently looking for a Project-based Program Officer.
SEDPI is the premiere capacity building institution providing training, research and consulting services in the areas of microfinance, social entrepreneurship and financial literacy in the Philippines. It is composed of young and dynamic social entrepreneurs from prestigious universities.
Established in 2004, SEDPI worked in 27 countries worldwide reaching approximately 3,000 development organizations. It is a partner of the Ateneo de Manila University for Microfinance Capacity Building. SEDPI is one of the finalists of the Ernst and Young Entrepreneur of the Year Award in 2012 and received Special Recognition from PriceWaterhouseCoopers in 2015.
The Project-based Program Officer (PPO) post is open for young individuals looking for a training ground in development work and social entrepreneurship rather than immediate financial gain. Fresh graduates and those with one-year experience are encouraged to apply. Passion for development work and effectiveness in working in a team are given more weight than academic qualification or professional experience. SEDPI is looking for young and flexible individuals who are willing to be trained and are fast learners.
The PPO will conduct various research projects and training courses of SEDPI all over the Philippines on field. The PPO’s main responsibilities include gathering data through field work, writing research reports, providing technical assistance on enterprise development and assisting in the conduct of training courses.
SEDPI offers the opportunity to hold a position with development impact; be exposed to key players in the Philippine development sector; gain exposure in initiatives all over the Philippines and join a successful team of young social entrepreneurs.
For interested individuals, kindly send your resume and application letter toinfo@sedpi.com.
Kindly use the file naming convention described below when sending letter of intent and resume. Applicants who don’t follow will not be shortlisted.
For the Letter of intent: lastname firstname loi ppo
Do you want a job that has positive social impact? Are you interested in promoting financial literacy?
(L)Earning Wealth is currently looking for a Marketing Associate.
(L)Earning Wealth is SEDPI’s flagship program for financial literacy. SEDPI is the premiere capacity building institution providing training, research and consulting services in the areas of microfinance, social entrepreneurship and financial literacy in the Philippines. It is composed of young and dynamic social entrepreneurs.
Established in 2004, SEDPI worked in 27 countries worldwide and has trained more than 10,000 individuals on financial literacy. It is one of the finalists of the Ernst and Young Entrepreneur of the Year Award in 2012 and received Special Recognition from PriceWaterhouseCoopers in 2015.
(L)Earning Wealth is designed to help participants reach financial empowerment and comprising a set of fun modules built on real-life examples from financially stable trainers. (L)Earning Wealth product and service offerings include (1) trainings, (2) consultations and advice, (3) community support groups and (4) publications.
The Marketing Associate (MA) will be in charge of all the marketing efforts for the (L)Earning Wealth program. This includes marketing the product and service offerings, particularly training events and publications, coordination with consignees and training organizers. The position is open for flexible individuals who are willing to be trained and are fast learners.
(L)Earning Wealth offers the opportunity to hold a position with development impact; be familiar on financial education; and join a successful team of young social entrepreneurs.
For interested individuals, kindly send your resume and application letter to info@sedpi.com.
Kindly use the file naming convention described below when sending letter of intent and resume. Applicants who don’t follow will not be shortlisted.
For the Letter of intent: lastname firstname loi lw
People’s Alternative Livelihood Foundation of Sorsogon, Inc. (PALFSI) started its microfinance operation in 1997, servicing the rural areas of Sorsogon. By 2003, the organization experienced growth with outreach of 10,000 clients in 15 municipalities in the province of Sorsogon.
In 2005, PALFSI partnered with Ayudahan Livelihood Foundation of Zamboanga (ALFZI). The two organizations pooled in investments for the microfinance program that operated in Zamboanga. At first, the partnership had promising results but natural calamities and mismanagement resulted to a crisis that almost closed down PALFSI’s and ALFZI’s operations. The microfinance operation in Zamboanga was not able to address delinquency problems. ALFZI eventually left the partnership. This left PALFSI to take over the entire operations and settle obligations with donors and funders.
Since then, the institution went on a downward spiral. The operational losses incurred in Zamboanga forced them to write off a significant amount of their outstanding portfolio. The write-off together with bloated liabilities led to technical bankruptcy in PALFSI’s books. This is means that liabilities are larger than assets and there is large likelihood that the organization may not be able to fulfill its obligations to funders if drastic measures are not taken.
SEDPI started the rehabilitation of PALFSI in 2013. Through SEDPI’s organizational appraisal, a series of interventions was strategically planned out to turn the institution around. The main intervention for the institution focuses on stabilizing its financial performance. To do this, SEDPI along with PALFSI management set up a meeting with their creditors to negotiate and restructure its current obligations. The result of the negotiation was a success as PALFSI’s external creditors agreed to a two year moratorium which gives PALFSI enough time to recover and eventually pay their external debts. The other interventions conducted to complement PALFSI’s recovery and institutional growth includes, strategic planning, financial management, human resource development, client selection, internal controls, and product development.
Since then, PALFSI has been experiencing gradual improvement with its financial performance. It posted a positive net income in 2014 after experiencing three straight years of net losses. PALFSI is also has enviable Portfolio at Risk (PAR) ratio which hovers between 0-2% throughout 2015 and early 2016. SEDPI established milestones to PALFSI and when it achieved these milestones. SEDPI Development Finance, Inc. (SDFI) released loans to enable PALFSI to expand and grow its portfolio.
The PESO rating of PALFSI significantly improved since SEDPI started its interventions with them. PALFSI’s current PESO rating improved to 72 points out of a possible score of 100. In 2013, PALFSI’s PESO score is only 45. The PESO rating is a scale used in the microfinance industry to describe performance of microfinance institutions. With this pace, PALFSI is set to attain positive equity by June 2016.
This is proof that with the right capacity building program and appropriate financing strategies, SEDPI can turnaround organizations so that they can continue benefitting the poor.
Organizations regularly include capacity-building in their development plans. This have become an essential human resource strategy because it aims to improve, if not sustain, the level of knowledge and skill needed by its employees in the performance of their functions. In the case of microfinance institutions, capacity-building interventions are done mainly as a requirement for compliance or due to a perceived need. MFIs would often find themselves choosing between public-run or customized trainings. What is the difference?
Public-run trainings, by virtue of being public-run, are trainings that are conducted to serve the general need of the public. It prioritizes breadth of knowledge that is applicable for most. On the other hand, customized trainings provide attention to the distinct practices of organizations. It goes in-depth with interventions being rendered.
During public-run trainings, capacity-building providers aim to deliver general topics to encompass the wide audience. In this regard, the event could also be an avenue for networking with other organizations. Some MFIs bring delegates to these events for the primary purpose of engaging in best practices sharing. Organizational learning, aside from what is imparted by the resource speakers, is spurred by organization-to-organization interaction. In terms of fees, public-run is cheaper compared to customized ones.
For customized trainings, a prior assessment of the organization would be carried out to understand what interventions it needs and how to deliver them appropriately. This means gathering enough information about the systems, processes, policies, and personnel so that these can be integrated to the lesson. With this focused scope, areas for improvement can be easily identified and discussed during the training itself, thus, making the intervention more beneficial and impactful to the organization.
The management needs to take into consideration the institutional needs and objectives to be able to identify the appropriate training for the organization.
Agricultural and Rural Development for Catanduanes, Inc. (ARDCI) recently celebrated its 17th founding anniversary last September 11, 2015. The festive day started with a Thanksgiving Mass and was followed by a colorful parade around the town of Virac. Hundreds of ARDCI members gathered in the Virac Sports Complex to join the fun-filled celebration. Senator Francis “Chiz” Escudero graced the event and gave an inspirational talk. The members enjoyed various games and raffle draws. Toward the evening, the ARDCI staff, management, and valued guests continued the celebration in the Virac Town Plaza. During the area presentations, the members showcased their talents through impressive production numbers. The event aptly ended with vibrant fireworks display.
ARDCI acknowledged distinguished partners with the ARDCI Uswag Award and SEDPI was a proud recipient of the recognition.
ARDCI has plenty of reasons to be grateful and to celebrate. Since the organization’s establishment in 1998, it has stayed true to its commitment to empower its members, primarily poor households, by providing financial services such as microcredit and micro-insurance. With its members growing close to 100,000 households, the organization now operates in 47 branches in ten provinces. In 2014, ARDCI began its operations in Mindoro and Marinduque with five and two new branches respectively. The organization recorded a remarkable 35.95% growth in number of active clients and 33.18% growth in loan portfolio on the same year.
Bicol region’s largest MFI has continuously strived for growth and progress. It has not always been an easy journey for ARDCI. Before the organization forged a partnership with SEDPI in 2007, ARDCI was struggling with its poor financial performance and net loss for four consecutive years prior. SEDPI helped ARDCI to improve its performance through providing Technical and Mentoring Assistance. The management’s tireless efforts and dedication in the partnership goals paid off. It was not long before ARDCI started posting positive income again and regained the support of donors and funders for its financial needs.
Until this day, ARDCI persistently works on its financial performance as shown in the table below.
Financial Performance
2012
2013
2014
Standard
Portfolio-at-Risk
4.78%
1.96%
3.05%
<5%
Adequacy of Loan Loss Prov.
100%
100%
100%
100%
Operational Self Sufficiency
176%
133.52%
145.51%
>120%
Loan Officer Productivity
295
303
354
>300
Financial Self Sufficiency
176%
130.41%
141.76%
>100%
Loan Portfolio Profitability
10.64%
13.04%
18.05%
> Inflation*
In terms of Portfolio Quality, ARDCI was able to maintain its PAR Ratio within the industry standard and is fully provided in terms of loan loss provision since 2013. Sustainability measures were also generally outstandingly high. Overall, these indicators accompanied by notable increase in outreach, suggest that the organization is financially sound and healthy.
ARDCI takes pride in sustaining and flourishing its grassroots-led development initiatives not only in microfinance operations but also in its social services programs. Throughout the years, ARDCI provides unwavering committed service and looks forward to more wonderful years with its member and partners.
The Department of Agrarian Reform Micro Agri Loan Product (MALP) was an integrated credit delivery project for Agrarian Reform Beneficiaries (ARBs). The program aims to intensify and fast track the provision of microfinance services to target clients (ARBs/ARB households and rural women) to finance their agri-based enterprises through capable partner MFIs. Having access to formal financing was one of the major achievements of the project for the ARBs. By the end of the project, there is already a total of PhP356.2 million in loan portfolio from 18,987 ARBs, ARB households and rural women. This amounted to a total of PhP86.6 million in savings and share capital generation. Market Linking, access to crop insurance, and access to agri-extension services were the other important milestones of the project.
Social Enterprise Development Partnerships, Inc, (SEDPI), the chosen service provider for the project, extended capacity buildings services to 23 Microfinance Institutions (MFIs). Through the 23 MFIs, the ARBs were not only able to access formal financing which allowed them to no longer borrow capital from informal money lenders with very high interests; they also had an avenue where they could put their savings during peak income seasons.
SEDPI also incorporated market linking as an essential design of the product. In the course of the intervention, several partners of MALP expressed keen interest in the area of value chain financing as well as market linking. These organizations saw the importance of the system and planned to institutionalize it not only for MALP. In fact, a key insight during the conduct of MALP is the importance of market linking especially for organizations with strong existing micro-agri product.
One of the highlights of the entire MALP intervention in terms of market linking is the intervention with Alalay Sa Kaunlaran Inc. (ASKI). SEDPI linked ASKI with Organic Options Inc. (OOI), a marketing and trading company for agricultural products. ASKI developed a partnership with Organic Options where OOI will buy the produce of farmers under MALP. The agreement also includes provision of assistance for the farmers to transition from conventional farming to organic.
SEDPI was also able to link the MFIs to Philippine Crop Insurance Corporation (PCIC). Insurance is a critical financial product that must be accessed by farmers to protect them from risks incurred by unexpected circumstances. Through the MFIs, the crop insurance, including other insurance products from PCIC, was made more accessible to the ARBs and the farmers. Seventeen MFIs are now underwriters, with 2 MFIs processing their underwriter application. The rest opted to become agents. The remaining MFIs opted to explore other risk mitigating measures such as the Agricultural Guarantee Fund Pool (AGFP).
Agricultural extension services allow provision of knowledge and technical know-how on farming. Through the project, MFIs were linked to Municipal Agriculture office and key topics such as pest management and fertilizer application were the most requested in addition to knowledge on vegetable farming.
The project proved to provide a win-win situation both for the farmers and the MFIs. Farmers were empowered through the interventions mentioned hence the need for capital and more savings would also increase providing more business for the MFIs.
For many Filipinos, the lure of working overseas is plain and simple: money. A higher take home pay enables them to provide their family with a better life.
