There’s More To Providing For Your Family Than Just Sending Cash

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Since we started BeamAndGo about a year ago, we read a lot of articles about the remittance industry and spoke to many OFWs. Our aim was to understand what was going on so that we can provide the best solution to the recurring problems.

Here are some interesting numbers …

1. In 2014, overseas remittance into the Philippines totaled almost USD $27 Billion. And for the past 15 years, this number has increased by about 5% annually.

2. Over the last 10 years, the percentage of people living below the poverty level line has remained the same at about 25%; however, because of the increase in population, the actual number of people living below the poverty level line has increased.

How is that possible that even with a steady increase of money being remitted into the Philippines every year, the % of people living below poverty stays the same?

Most of the experts say that it’s because of these three things: (1) lack of financial literacy and limited knowledge which results in saving very little of the remittance money; (2) misuse of the money by spending on non-essentials like cosmetics, fast food, gifts, high-end gadgets, gambling, drugs and alcohol; and (3) theft.

As we always say at BeamAndGo headquarters: “We believe there is a better way for people to support their loved ones in the Philippines other than just sending cash.” Part of it is having more knowledge and paying attention to the management of your money. Every week, our team shares financial tips, tricks, advice and recommendations for Filipinos and OFWs. I think they are all awesome.

Here are my Top 5 favorites (in no particular order)…

1. iMoney Philippines‘ Learning Center has a wonderful article on saving money called “How to Save Money Wisely for Filipinos”. Check it out at

2. In the Life & Style section of Rappler, Lianne Martha Maiquez Laroya writes “Saving money is hard – and boring. And most of all, it’s so not effective!” But she goes on to describe 12 tricks that makes the saving process a little less boring. Go to to see the full article.

3. In a recent article in Filipiknow, the author talks about ways to lower one’s Meralco bill. Waste not, want not. Check out the article at

4. The guys at Peso and Sense recommends spending only up to 70% of the monthly cash on expenses, with the rest set aside for savings. It’s a matter of discipline and expense management. Good advice. To read the complete article, go to

5. Groceries are one of the big expenses in our daily lives. Got to eat, right? talks about 5 ways to save money on your groceries. If you want to start saving, check out this article

These articles represent just the tip of the iceberg. The BeamAndGo team has found many more useful articles on ways to make your hard earned money go farther. To see them all, go to And if you like us, you will be notified when we post new articles.

As always, if you have any comments or questions, feel free to contact me at Also if you like this article, don’t be shy, share it with your friends and family.

Published by Jonathan E. Chua

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