Mr. OWEsome to Mr. Awesome

February 22, 2012 1 Comment


Every week days, waking up early and going to work is like a heavy burden. Actually, the one big reason that keeps me going or inspires me to go to work is the fact that I have to pay something. I have to pay for my house loan, for my kids school, for utility bills, insurance, foods, entertainment etc. etc.

Sometimes I called myself Mr. OWEsome. Why Mr. OWEsome?

I am Mr. OWEsome because, every time I get my paycheck I have to pay some that I owed.  Hate to admit it but it is true, and I think that I am not the only one living on a paycheck to paycheck scenario.

And with my 8 hours fixed income job as primary source of income, there is no other option but to work hard (even harder sometimes). Actually there is a huge difference between working because you need it, than working because you love it. But most of the time, we have to work because we need it.

Of course, I don’t want to live as Mr. OWEsome for the rest of my life, and I wanted to be free from my wage slave job.

I promised myself that few years from now my identity will change from being Mr. OWEsome to Mr. Awesome. (To give a short description of Mr. Awesome, he is a financially free person, who don’t work for money because money is already working for him.)

Easier said than done, but being Mr. Awesome takes a long and sometimes a painful process.

And how will I become Mr. Awesome?

By regularly investing mixed with disciplined spending, I am very optimistic that few years from now I could buy myself a freedom from my wage slave job and financial bondage.

Every time I imagine myself being free from a stressful corporate job , because I have an investment that can handle all my financial obligation is awesome.

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Filed under Financials, Inspirational Tagged with , , ,

OFW Corner : Job Security

January 26, 2012 1 Comment


I was thinking about the macro-economic event like US and EURO debt problem start to unravel. Actually, this debt problem was always the subject of talk of most economist and financial analyst.

Have you ever think about the potential effect of this debt crisis to an OFW like us?

Normally, if this crisis will happen, the job of an OFW always hangs by a thread. Since, most of us are working in a multinational companies, the 1st reaction of a company to ease its financial burden is to cut cost. Of course, the most effective way to cut cost is to reduce manpower. And since, we are considered as an EXPAT the privilege of getting kick-out 1st is on our side.

With this, I just come to realized that being an OFW offers no job security tenure. Once, the $$$ or the world economy was battered by any Financial crisis, there goes our $$$ earning job.

If this event happens, many OFWs returning home ends up empty handed (without any savings or investment). Although there were some who gets an awesome retirement or severance package, it sometimes ends up with nothing because of their inability to save or invest.

With this, it is a must that every OFW must be an investment literate. I have read some very interesting article about an Investment Literacy and why it is a must for OFWs. (Please click on this link –
http://theofw-microinvestor.com/?p=16
 if you’re interested to read it.)

On this article, the author enumerates 3 compelling reasons on why investment literacy is a “must” for OFW.

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Filed under Financials, OFW Corner Tagged with , ,

List of Countries Ranked according to their External Debt

August 2, 2011 Leave a comment


This year, we are shocked by various debt issues in the European countries (PIIGS) and now US is increasing their debt ceiling to prevent the possibility of default and maintain their AAA credit ratings.

External debt is a part of a total public debt owed to creditors outside the country.

Below are the lists of selected countries ranked according to their External Debt.

    External Debt    
Ranked Country Amount in US Dollars Date (As of) % of GDP
1  United States 14,300,000,000,000 30-Jun-10 95
2  United Kingdom 8,981,000,000,000 30-Jun-10 400
3  Germany 4,713,000,000,000 30-Jun-10 142
4  France 4,698,000,000,000 30-Jun-10 182
5  Netherlands 3,733,000,000,000 31-Dec-09 471
6  Japan 2,441,000,000,000 30-Sep-10 45
7  Ireland 2,253,000,000,000 30-Sep-10 1,103
8  Norway 2,232,000,000,000 30-Jun-10 538
9  Italy 2,223,000,000,000 30 June 2010 est. 108
10  Spain 2,166,000,000,000 30-Jun-10 154
11  Luxembourg 1,892,000,000,000 30-Jun-10 16
12  Belgium 1,241,000,000,000 30-Jun-10 266
13  Switzerland 1,200,000,000,000 30-Sep-10 229
14  Australia 1,169,000,000,000 31 December 2010 est. 95
15  Canada 1,009,000,000,000 30-Jun-10 64
16  Sweden 853,300,000,000 30-Jun-10 187
17  Austria 755,000,000,000 30-Jun-10 200
18  Denmark 559,500,000,000 30-Jun-10 180
19  Greece 532,900,000,000 30-Jun-10 174
20  Portugal 497,800,000,000 30-Jun-10 217
21  Russia 480,200,000,000 30 November 2010 est. 33
22  China 406,600,000,000 31 December 2010 est. 7
23  Finland 370,800,000,000 30-Jun-10 155
24  Korea, South 370,100,000,000 31 December 2010 est. 37
25  Brazil 310,800,000,000 31 December 2010 est. 15
26  Turkey 270,700,000,000 31 December 2010 est. 36
27  Poland 252,900,000,000 31 December 2010 est. 54
28  India 237,100,000,000 31 December 2010 est. 15
29  Mexico 212,500,000,000 31 December 2010 est. 20
30  Indonesia 196,100,000,000 31 December 2010 est. 28
31  Argentina 160,900,000,000 30 September 2010 est. 43
32  Hungary 148,400,000,000 31 December 2010 est. 115
33  United Arab Emirates 122,700,000,000 31 December 2010 est. 41
36  Kazakhstan 94,440,000,000 31 December 2010 est. 68
37  Republic of China 91,410,000,000 31 December 2010 est. 21
38  Israel 89,680,000,000 31 December 2010 est. 42
39  Czech Republic 86,790,000,000 31 December 2010 est. 45
40  Chile 84,510,000,000 31 December 2010 est. 42
41  Saudi Arabia 82,920,000,000 31 December 2010 est. 19
42  Thailand 82,500,000,000 31 December 2010 est. 26
43  South Africa 80,520,000,000 30 June 2010 est. 23
44  Malaysia 72,600,000,000 31 December 2010 est. 31
46  New Zealand 64,330,000,000 31 December 2010 est. 46
47  Philippines 59,770,000,000 30 September 2010 est. 32

Philippines were ranked number #47 with 59.77Billion USD external debt as of September 30, 2010.

Anyway, I think we are in still in a good fiscal position considering our current GIR (Gross International Reserve) of 69billion USD and backed by strong inflows of remittances from our OFW’s.

Just click on the link below, for the complete list of all the countries and their external debt.

External Debt

source: wikipedia

Filed under Financials, Investment Tagged with ,