Emergency Fund

[sachism]

^^ for us it it varies. normally 50% sa BPI for convenience purposes
the remaining 50% plus any purchases within 1-2 yrs, sa TD (not with BPI). There are other banks with good returns on TD like 1.75% and up.  I am only putting investments sa UITF/MF.

[mxherr5]

@freejein, its a UITF product.

@sachism, just to compare my BPI Short Term Fund
is currently at 2.07% as of Jan 30th and that's net of tax.

If your 1.75% is gross of tax, that means your net would
be 1.4%

Compared to a TD, the BPI Short Term fund is a no brainer.
There's no pre-termination charge like TDs and you'll get
equivalent or better earnings compared to TDs(TD rates
normally are higher for longer terms or bigger amounts)

Compared to a regular savings account, the only downside
is, you have to redeem at least 1k, no less than that and
any redemptions on Friday will take longer because of weekends.

[sachism]

mxherr5

that caught my attention. dko actually na consider to before. So I am trying to understand pa. Binabasa ko ngayon yung latest report. Mukhang pababa ang returns every year. For 2014 1.12% ang calendar year performance. Is this net na? Good timing ang paglagay mo ng sayo na >2% pa.

We also had SDAs before but pababa na din rates 2 years ago so we transferred na lang to a different bank with higher TD returns.

Ano pa ba ang ibang options kay BPI UITF an OK ang returns and liquid?

[enchoi]

@mxherr5 thanks po for this suggestion.  Win-win pala dito sa BPI short term fund.  No pretermination and higher interest pa.

May nakausap ako na taga-BPI last week and she told me na di na nga nila ina-advise yung TD because of its very low interest.  Marami nga daw silang products available depende sa financial goal.  So maybe isa na nga ito.

For my EF, gusto ko talaga 1 bank lang para just in case, I can just access it online and transfer it to my account.

[blackgreen]

Question for UITF, can I present it as a bank balance certificate for my application for visa? Or ang UITF di pasok sa definition ng bank balance?

My emergency fund is in UITF and BPI Direct save-up, I will use it sana as show money for my visa application.

[sachism]

Baka OT:

^
For AU Visa, based on my experience, what I have read and my friend's experience. Additional Financial Docs that they submitted were:
Land Titles
ORCR ng sasakyan
Credit Card Statements
Time Deposit Certificates
Mutual Fund Investment Statements
Insurance (VUL) Statement of Account

Baka pasok si UITF kasi parang yong last 2 din yan. You may want to confirm with your travel agent.

 

[mxherr5]

@sachism, the 2% figure was my total returns
since I've had the fund.

My 2014 return is 1.09%, a little lower than the
fund's actual return.(Equivalent to a TD rate
of 1.3625%)

The fund invests most of its assets in SDA so its
returns will probably mirror SDA returns.

I've consciously chosen to go through this route
because as part of my emergency fund, I value
liquidity over returns.

I could actually get as much as 5% tax free
from my coop. but they can only disburse 20k
a day. If I need a big amount, the delay would
be almost a week if its a really big amount as they
won't release my money in cash(they'll issue a check).

I will soon be doing this btw when I finally raise my
emergency fund to 6 months worth of expenses.

I only keep 2 months worth right now. Yep, I'm
living on the edge 

[sachism]

mxherr5

Natawa ako sa living on the edge 

Ganda ng timing mo sa Short Term. I might stay with the TD for now but will continue to study this more and weigh pros and cons.

Salamat!

[mameejhy]

HAy naku close to 2yrs na akong nagbabasa re emergency fund pero until now, wala pa rin kami nyan Yun pera eh laging napupunta sa mutual fund or stocks

[FayeP]

^ako man wala pa, pero starting to fund this na, un nga lang wala pa ata 5K un haha pero I will try my best na mabuo muna at least 3 months worth of our expenses, then saka ko na dagdagan para maging 6 month worth...

paunti unti makakarating din dun...

[mameejhy]

^Nakakapanghinayang kasi yun tutubuin kung nasa mutual funds/ stocks

[ieiky]

^same here. Pero promise ko this first quarter, maglalaan na ako ng emergency fund at ilalagay sa BPI Direct Save-Up Account ko.

[fionaapple]

after namin mabayaran yung car loan in full next month, magsstart na ako magBPI save up.

[icedtallcoffee]

50k yung inallot ko as emergency fund para makuha yung average daily balance sa BDO para mag-earn ng BDO rewards (smac points). Sayang din kasi yung every bayad ng bill, or transfer ng money, merong smac point piso every 400 pesos din yun.

[kaiz]

transferred a quarter of my emergency fund sa isang coop. parang bank na rin kasi yung coop na yun. malaki na and madaming branches. mas mataas interest compared sa bank and may dividend pa since may share of stocks ka din. and every december may mga grocery items pinapamigay sa members and every stock holders meeting, free transpo and accommodation sa hotel kung saan iheheld yung meeting ang saya lang. usually kasi sa resot ginaganap meetings nila.

[fionaapple]

sis kaiz, anong coop yun?

[rikki21]

Sis Kaiz, share naman yung COOP mo.

My emergency fund is on a COOP account din, pero sa work ko to so employees of the company lang pwede. When I resigned, hindi ko na kinuha para may naka tabi ako na pera. Its earning 6-8% per year. 3 years ago hindi ko kasi alam yung MF, UITF at stocks, ang alam ko lang mas mataas ang COOP  earnings kesa sa savings at Time deposit sa bank.
As of now, I have 100k sa COOP as my emergency fund. ang downside lang, if kailangan iwithdraw, next day pa makukuha. Meron din  naka ready na worth 100k sa savings bank (in USD) kasi hindi ko alam saan maganda I-invest ang JS dollars. medyo masakit nga lang kasi walang tubo ang dollars sa savings bank.
Now I want to put my extra money sa MF at UITF. still reading on these accounts
 

[kaiz]

sisses dito lang sa province ang coop na to. they have 6 branches na but walang sa manila. hehe. ang alam ko okay din daw ang coop ng DAR. meron sila yung open for everybody, as in pwede kahit employee ng DAR. malaki daw dividend

[freejein]

Thank you sis mxherr5. I was able to check this BPI Short Term Fund in the website. And looking forward to transfer our EF on that fund.

[happynlove]

Mga sis nabuo ko na yung 100k emergency fund ko. Nasa save up ngayon pero planning to move in a TD however upon reading here mukhang hindi adviseable sa TD.
Meron din akong coop share capital and savings,mas malaki din sa bank yung interest and may grocery pag december pero nainggit ako sa isang sis natin na with hotel accommodation pa hihi