Emergency Fund

[m_lim]

^sis, lahat naman may risk. so yung 500thou mo pwede mabawasan, pwede madagdagan.

sa bank rin naman akala lang natin hindi nababawasan kasi same parin amount. hindi lang natin namamalayan, bumababa rin ang value kahit 500thou parin yan 10 years from now.

[quennna]

ang lalayo layo ko pa para magka build up ng big amount pang EF..
pero sabi nga nila.. THE BEST TO START IS... NOW..
so not yet too late for me...

[mebpa]

^ Sis ganyan din ako, pero binibuild ko na ngayon yung disciple na wag kukuha sa EF pang-stocks at bumili according to my schedule.

EF ko is part liquid in a regular savings account and part nasa bpi short-term fund.

I'll try harder na hindi na kumuha ulit (matinding disiplina on my part). Sometimes I get carried away buying stocks pag madaming mura. kelangan ko na den yata talaga mag-separate account para sa stocks (emergency fund for stocks).

EF ko nasa regular savings and BPI bond fund (I'm not suggesting this to anyone).

@mebpa

maituturing ba na emergency fund kapag nakalagay sya sa advance savings account? Yung sa ATM ko pede rin ba yun na lang yung emergency fund ko?

Then if I have extra 500K, safe ba na ilagay ko sya sa bpi short term fund?

I'm not really familiar with advance savings account (I don't have one); but if it's like a regular account, I think you can treat it as EF. You can treat your money in your ATM as EF (as long as you know that it's for your EF and not your monthly expense).

I can't comment on BPI short term fund (as I don't have one). but, as per sis soulsister, part of hers is on one.

[jonisha]

mga sis patulong naman po paano po ba pag compute ng interest ng bpi advanced at bpi maxi saver halimbawa po meron akong 500K sa advance then ang rate po nya 0.750%. pede pa sample po ng computations at formula kung magkano magiging interest nya sa isang buwan.

Then halimbawa sa maxi saver naman po meron din akong 500K then ang rate po nya ay 0.375% at With 0.5% BONUS p.a. if no withdrawal within a month. pede pa sample po ng computations at formula kung magkano magiging interest nya sa isang buwan. Thanks

[jonisha]

mga sis patulong naman po paano po ba pag compute ng interest ng bpi advanced at bpi maxi saver halimbawa po meron akong 500K sa advance then ang rate po nya 0.750%. pede pa sample po ng computations at formula kung magkano magiging interest nya sa isang buwan.

Then halimbawa sa maxi saver naman po meron din akong 500K then ang rate po nya ay 0.375% at With 0.5% BONUS p.a. if no withdrawal within a month. pede pa sample po ng computations at formula kung magkano magiging interest nya sa isang buwan. Thanks

up ko lang ito mga sis

[happynlove]

^per Annum ang interest. Example, 0.75% interest. Divide mo muna yan sa 12 then deduct 20%Witholding tax. Yan na yung monthly interest.
For bonus 0.5%, per annum din yan. Divide ko lang din sa 12 then yan yung maadd na interest. But it will be added only if no withdrawal was made for the month.

[jonisha]

@happynlove

sis can you check kung tama ba ang computations ko
 
500,000 x 0.0075% x (30 days / 360) * .80 = 250.00
so bale ang magiging tubo ng 500K sa bpi advance in 1 month is 250 pesos lang.

sa maxi saver naman ito naman po
0.375% + 0.5% (BONUS p.a. if no withdrawal within a month) = 0.875

500,000 x 0.00875 x (30 days / 360) * .80 = 291.66

tama ba sis?

[quennna]

from the net:
formula for income replacement: your annual income x 10

sample computation:
monthly income of P20k x 12 = (240k) x (10)
= 2.4M (amount of protection needed)
 x 10%
________
P240k (living on interest)
/ 12 mons
_________
P20,000 (monthly income replacement)

[Ma.Jewel_1987]

^ inshort sis dagdag lang ng 1 month worth of salary.

[quennna]

Sabi sis yung P240k must be the interest of your money per year.. pasok yan sa insurance with investment..

[jonisha]

mga sis pa check naman kung tama ba ang computations ko

ito po yung sa bpi advance ang principal amount is 500k then ang interest rate nya ay 0.750%
500,000 x 0.0075% x (30 days / 360) * .80 = 250.00
so bale ang magiging tubo ng 500K sa bpi advance in 1 month is 250 pesos lang.

sa maxi saver naman ang principal ay 500k din po
0.375% ang interest rate + 0.5% (BONUS p.a. if no withdrawal within a month) = 0.875

500,000 x 0.00875 x (30 days / 360) * .80 = 291.66

tama ba mga sis?

[jonisha]

up ko lang mga sis

[happynlove]

^mukhang tama naman sis

[jonisha]

^

Thanks sis

[m_lim]

sa BPI save up ko nilagay ang emergency fund ko.

too bad sira pa ata ang BPI Direct na save up. wala pa daw announcement kelan maaayos. kaya no choice kundi regular save up nalang.

since up to 2Million lang ang coverage ng insurance and x5 ng average daily balance, edi 400thou lang max na maganda ilagay dito para ma maximize mo ang coverage?

[j.adore]

Yes sayang din yun.

BPI din sa akin kasi ang labo mag open sa direct.

[happynlove]

Opened maxi saver today at bpi family. Buti nalang same rate ng Direct.

[jonisha]

Mga sis patulong naman po pahingi naman ng opinyon nyo at pa suggest narin meron kasi ako BPI Advance Savings Account with Passbook nasa 500k po yung laman nya at Maxi-Saver Savings with Passbook nasa 500k din po. Currently ang interest rate po ng BPI Advance Savings Account kapag nasa 100,000-999,999 ang pera mo ay 0.750% then sa Maxi-Saver naman po kapag ang pera mo ay nasa 500,000-999,999 ang interest rate nya ay 0.375% With 0.5% BONUS p.a. if no withdrawal within a month. Balak ko kasi na pag isahin ko na lang its either i-close ko yung sa Maxi Saver or yung BPI Advance, para ma-maximise ko yung interest rate nya kasi mas mataas na yung magiging interest rate nya for example kapag umabot na sa 1M and above yung pera mo sa BPI Advance Savings Account ang interest rate nya ay 1.500%. Sa Maxi-Saver Savings with Passbook naman po kapag umabot na sa 1M and above yung pera mo ang interest rate nya ay 1.000% With 0.5% BONUS p.a. if no withdrawal within a month, so parehas lang sila ng interest rate ng BPI Advance Savings Account which is 1.500% kapag walang withdrawal in a month, so kapag may withdrawal in a month naman sa maxi saver 1.000% lang ang i-aaply na interest rate, pero any time pede ka mag withdraw sa maxi-saver just incase of emergency. Sa BPI Advance kasi first banking days ka lang po pede mag withdraw in a month ng free of charges then kapag nag withdraw ka ng hindi first banking days let's say 2nd of the week ka nag withdraw may penalty or charges na daw po at docs stamp pa. Tapos yung interest naman or yung tubo po sa BPI Advance macre-credit sya or papasok sya in advance doon sa settlement account mo.

Ang Required Initial Deposit, Required Minimum Monthly ADB1, Required Daily Balance2 to Earn Interest sa BPI Advance Savings Account with Passbook is 100,000. Sa Maxi-Saver naman po ang Required Initial Deposit, Required Minimum Monthly ADB1, Required Daily Balance2 to Earn Interest ay 75,000. Ito po yung details nya https://info.bpiexpressonline.com/bpiprod/produpd.nsf/Deposit+Rates/DepositRates1

Correct me if i'm wrong sa maxi saver dito ina-aaply yung compound interest? meaning yung interest nya idadagdag dun sa principal amount tapos iro-rolled uli? tama po ba?

Tama ba sis yung desisyon ko na pag isahin ko na lang para ma-maximise ko yung interest rate? Which one kaya sa dalawa ang reasonable na dapat kong i-retain?

[j.adore]

For safety reasons, ok lang to keep it as it is. Don't be worried too much about interest rate kung emergency fund naman ito.

Kung talaga higher return ang gusto mo, invest it. Money market fund ng BPI so far puro up. Yung isang emergency fund namin nandun hehe. But of course there's a small risk. I just monitor closely.

[jonisha]

^

kasi sis yung sa maxi-saver ko na 500k nasa 250 pesos lang ang interest nya in a month same as sa bpi advance yung 500K ang interest nya lang sa isang buwan ay nasa 250 pesos din. Whereas if pag ko-consolidate ko na lang sya sa isang account it's either maxi-saver or bpi advance yung i-reretain ko then if 1M yung pera ko sa bpi advance or maxi-saver ang magiging interest nya ay nasa 1000k per month.