Emergency Fund

[icedtallcoffee]

^ Baka mas ok sa money market fund. Para mas madaling ilabas.

[happynlove]

ayoko ilagay sa UITF or mutual fund yung EF ko. in my vocab kasi magkaiba ang investment sa EF or savings. since tapos na ko sa EF ko stocks thru citisec naman ang target ko then check ko din yang money market sis

[icedtallcoffee]

^ Yup, hindi ok ilagay sa UITF and MF, kasi paano kung kelangang kelangan mo na yung pera tapos nagkataon down ang market.

[sachism]

I did that for the longest time. Placed 50% of EF in TD. One important thing to note is to add yearly to our EF para aligned sa inflation or sa actual expenses natin since baka lumalaki ito every year.

 Now I decided to put it in Bonds/Money Market 70%. The rest in regular CASA para naman magkaroon ng konting kita. They hardly go down since these are invested in TDs, Govt Bonds, SDAs and other super conservative vehicles.

[sachism]

^ 6 mos is a good EF. I was referring to the actual expenses. Baka kasi lumaki na expenses natin for 2014 compared sa 2013 kung dun tayo nagbase ng pang EF natin. So OK to have maybe a yearly review of our EF.

[enchoi]

^ good of you to point that out sis! oo nga naman pala.  dapat periodically we check if our EF is still align with our 6 months' worth of expenses.  baka kasi once we set it aside e mapabayaan na.

[smua2014]

^ 6 mos is a good EF. I was referring to the actual expenses. Baka kasi lumaki na expenses natin for 2014 compared sa 2013 kung dun tayo nagbase ng pang EF natin. So OK to have maybe a yearly review of our EF.

True! This gave me the idea of adding at least a month's worth every year to my emergency fund just to keep things in check. Naka time deposit lang yung 50% ng EF ko at so far walang nangyayari so baka ilipat ko sa money market.

[happynlove]

nacheck ko na yung short term fund ng BPI. mukhang okay nga since conservative pala siya and most of the funds sa SDA din nilalagay kaya malaki interest. pero nagdadalawang isip pa ko.

The highest I saw naman na savings vehicle in BPI is Advance Savings sa BPI Family with 1% per annum. Anyone using it?

Speaking of adding funds every year, ang laki sakin ng 1 month worth ko siguro less than half nun iaadd ko, sobra naman yung computation ko sa 6 months eh.

[icedtallcoffee]

Oh, didn't consider that before, sama ko na to sa i-coconsider kapag nag-rereview ng investment portfolio. Makes sense na dagdagan sya every year or when lifestyle changes.

[Annie M.]

The highest I saw naman na savings vehicle in BPI is Advance Savings sa BPI Family with 1% per annum. Anyone using it?

I looked into this last year and ang sabi the interest rate is:

.750% for deposit of P100,000 to P999,999
1.5%  for deposit of 1 Million and Above

Ultimately I chose Security Bank's Premium Build-Up Savings, which has an interest rate of 1%. Happy naman ako--ang laki ng interest. Sa 500k you get 5,000 a year, kesa wala.

Check mo did, baka okay sayo yun.

[happynlove]

^ sis baka sa BPI ka nagtanong? Kasi sa website BPI has only 0.75% while BPI family has 1%.
Anyway, may isa pa kong nakita pwede din yung maxi-saver with atm ng BPI family and BPI Direct. 25k lang yung maintaining balance but if you'll put more than 25k then may 0.5% ka plus the bonus 0.5% if no withdrawals made. 1% na din with the benefit of earning 0.5% in case of withdrawals due to "emergency" compared to advance savings na no interest pag lower than 100k na. Is my analysis right?

[Annie M.]

^ sis baka sa BPI ka nagtanong? Kasi sa website BPI has only 0.75% while BPI family has 1%.

ay oo sis, sa BPI ako nagtanong, not BPI Family. sorry nakakalito naman kasi, ang daming BPI. 

about yung maxisaver, eto ba yun?

http://info.bpiexpressonline.com/bpiprod/produpd.nsf/Deposit+Rates/DepositRates1#bfb

ang sabi "0.5% BONUS p.a." -- per annum?

so to get that bonus dapat one year mong hindi gagalawin, tama ba? if you make withdrawals kahit twice a year lang, this bonus interest is recomputed?

baka someone who has an account here can answer us. medyo magulo eh.

yung sa security bank, 1% talaga and you are only allowed to withdraw once every quarter. mas simple for me pakinggan yung ganun. so i decided to go for that.
 
pero i'm also interested in opening a maxisaver for other funds, like travel. hope someone can enlighten us.

[mebpa]

we have 6 month's worth divided into atm and bpi bond fund, still convenient. mahirap kase for me nasa savings account lang. minsan nakakalimutan ko some of it is for emergency (biglang napapa-splurge). hehe

[happynlove]

^ gusto ko din ng clarification jan sis. Pero yes, per annum yan, yung withdrawal per month ang tinitingnan nila so siguro may 1% ka na talaga then yung portion mo for that month will become ineffective pag nagwithdraw? so magiging portion lang ng 0.5%?

[mxherr5]

@Annie
What happynlove said.
If you don't have any withdrawals for the current month
you get one month's worth of 1%p.a. interest
If you do have even one withdrawal then you get one month's
worth of 0.5%p.a. interest

[killbill]

Hindi ako financially literate katulad ng ibang mga sis natin dito pero may savings ako na dapat hindi maalis sa 6 digits, otherwise magpapanic ako.

Unfotunately, ayun kinailangan ko syang gamitin nga for emergency kasi nasunugan kami. Goal ko is ma replenish ang nawala tapos saka na uli ako mamimili ng mga gamit namin.
Big help din yung naka enroll sya sa online banking kasi nasunog passbook at id ko. Nakapag fund transfer agad ako sa atm ko.

[happynlove]

^ sis buti nalang may 6 digits ka. at least may something to rely on ka after the incident. Iba na talaga pag mahilig magsave

[killbill]

1/4 na lang ang natira kaya kailangan mag ipon uli.

[j.adore]

We're at 60% of our target pero medyo nasasayangan ako na nasa bank account lang.. I'm torn kasi yun talaga yung naset na goal pero it doesn't earn anything. I'm thinking of putting it somewhere (UITF?) that can be easily withdrawn with no (or little) charge.

We're going to start investing as in separate from the fund. Kaso at the end of the day, nasasayangan pa din ako na naka-stand by lang yun kahit na that's the purpose talaga. Haha gulo ba?

[icedtallcoffee]

^ sa conservative UITFs mo lang sya pwede ilagay like sa mga money market fund.

Hindi pwede sa mga balanced fund to equity fund, kahit bond fund mahirap kasi bumababa din. Hindi advisable kasi baka kapag actual emergency tapos nagkataon na mababa yung price per unit, ma-f-force kang magredeem at a loss. At least kapag money market fund, kahit 1.x% a year lang madalas, ok na rin. Tapos maikli pa holding period.

Yung UITF, walang charge sa redemption kung na-keep mo sya dun within the required holding period.