Photo courtesy of 2create

(Last week, I emailed Filipinos working all over the world to find out how the US global financial crunch is affecting one of the major sources of the country’s liquidity—the so called OFWs. Some are regular readers of MoneySmarts, while some are friends of another blogger Reyna Elena. They were very kind and replied and a short version of their emails (in the interest of space) were included in a feature I wrote for the Philippine Daily Inquirer. I am publishing this week in installments the full version of their emails. I hope the series will help us understand how Filipinos all over the world are affected and are responding to the crisis.)

By Jennifer, from the USA

I’m in my mid-30s, married with one kid, and working full-time in a big consulting company. I have been working in the US for almost seven years now (not counting the time I was still a Manila-based consultant but had US projects). I have been a legal US resident for these seven years.

The financial crisis definitely poses concerns, but personally, not to a point of panic. I think that it has effects on everyone in different ways at varying levels, depending on their circumstances. Lending or credit would have major impact on small business owners, or homeowners needing loans, and non-homeowners who hope to have a home.  401k is affected by the tanking and fluctuating stock markets. It is also likely that investors may freeze or withdraw plans for future investments. In my personal circumstance, these are not a big worry at this time.

I feel that having a decent-paying job makes me worry less about the financial crisis.  I don’t feel I have that much to lose in the bigger scheme of this financial crisis, as long I secure my personal finances, home mortgage, family spending, with a job stable enough to last the crisis.

We did plan for some investments early this year, and had to pass-up. I think that the crisis make me put more effort to ensure I keep this job and also shy away from investments, whether small or big, that would be risky to pursue at this time.