A Descriptive Phenomenological Analysis of the Financial Blueprints and Coping Mechanisms of Overseas Filipino Workers in Thailand

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Junjun Amparo


This paper investigated the financial status of Overseas Filipino Workers (OFWs) in Thailand. The purpose of the study was to understand the common financial challenges that OFWs face, examine their current economic blueprints, analyze their financial coping mechanisms, and come up with a financial literacy guidebook. Using a purposive sampling technique and in-depth interviews, the primary data for this study was collected from informants who had lived in Thailand for more than eight years. After the interviews, the researcher employed coding and theming to analyze the data, along with descriptive phenomenological data analysis created by Colaizzi (1978). Five themes emerged from the analysis: financial mistakes, debt management and budgeting, savings and emergency funds, insurance and investment, and financial retirement plans. The results also revealed an alarming deficiency of financial intelligence among most OFWs in Thailand. Likewise, the results of this study showed many unforeseen problems and challenges that significantly entangled many OFWs in poverty. Lastly, this study has significant implications on the financial mindset of Filipino workers who trade their time, health, and effort for hard-earned money abroad.

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