Emergency Fund

[happynlove]

^ sis personally kaya pinili ko yung  Maxi atm kasi inisip ko para in times of emergency, kahit 25k nalang laman ng savings ko eh may 0.5% interest pa rin compared sa higher interest na pag less than 75 or 50k eh wala nang interest.
Also, ang laki ng EF mo ako half lang nasa maxi and half iuUITF ko. Lagay mo sa conservative vehicles, yung money market fund almost 0% risk yun since sa bonds nila iniinvest. Sobrang liit kasi sa bank, or you may check BPI Plan Ahead.
By the way, nageerror pag nagssubscribe ako sa uitf today sa BPI, naeencounter nyo din ba to?system unavailable daw.

[leelou]

By the way, nageerror pag nagssubscribe ako sa uitf today sa BPI, naeencounter nyo din ba to?system unavailable daw.

^ me with ALFM MF thrice ko na ni-try today, ganun din sis.

[jonisha]

mga sis nagwo-worried ba kayo sa mga savings nyo sa bank let's say 1M yung savings nyo sa bank then ang cover lang ng PDIC is 500K?

[j.adore]

Scatter into different banks na tig 500 na lang.

[jonisha]

^

kaya lang sis di naman ma-maximize yung interest pag nilipat mo sa different bank, tsaka si BPI stable bank naman na sya diba. Or pwede rin siguro ITF ko yung anak ko or Joint Account ko si hubby para ma-cover ng PDIC yung dalawang 500k tama po ba sis? 

[j.adore]

I think you need to weigh what is more important for you. Ang security o ang interest?

Yes, BPI is indeed stable but you also need to consider not to put all your eggs in one basket. All of my savings account are in BPI but I will move them once we're done with building our EF.

You can also check this out http://www.pdic.gov.ph/index.php?nid1=5&nid2=4

[happynlove]

I'll never forget when my college professor told us that their family savings are distributed among different banks. At that time parang 200k lang kasi nga maliit lang covered ng PDIC. He's a lawyer and graduate of economics 

[jonisha]

Mga sis tanong ko lang halimbawa po 1M yung pera ko sa Maxi-Saver diba 500,000 lang ang total insured ng pera ko dito kasi 500,000 lang ang cover ng PDIC. Kung ka ITF(In Tust For) ko ba yung anak ko dun sa Maxi-Saver mako-cover na rin ba yung isa pang 500,000? Then ang total insured is 1M? Tama ba ako mga sis?

[quennna]

nice article..
Start Your Emergency Fund Now

[neriann28]

I opened a BPI Save Up + Insurance for my Emergency Fund. 

http://nhengswonderland.blogspot.com/2015/07/emergency-fund-bpi-direct-save-up.html

[m_lim]

nag open rin ako ng Save Up to take advantage of the "FREE" insurance.

kaso, hindi mo pala pwede i-stop yung automatic transfer from your savings account to save up.

so magttiyaga ka maglipat lipat buwan buwan para ikot ikot ang pera mo from save up, balik sa savings?? eto ata ang pangit sa save up.

example:

200T ang gusto ko Average Daily Balance para 1M insurance (x5 ng ADB)

so 100thou every 15th and 30th ang Save Up ko.

papahinto ko na sana kanina , pero hindi daw pwede. automatic parin siya magbabawas sa July 30th.

so ibabalik ko ulit sa Savings account ko before mag 30th.
100thou kada 15th and 30th of the month ang

[lgf08]

^pag na-attain mo na un amount na gusto mo, i think you can change the amount being transferred from your savings account to your Save Up (and the frequency also can be once a month)..

[twelvth_goddess]

My husband and I opened a savings account for my daughter as soon as we found out that I was pregnant. Now, my daughter is 4 years old turning 5 and this liquid account is where we get the money for her tuition. We also have a checking account and my personal savings in the same bank. Those funds are where we get emergency expenditures if they're bigger than what we can accomodate from our monthly budget.

We've also invested on VUL for each of us -- hubby, daughter, and I. I want to fully protect and secure my daughter's future especially with the rising costs of everything. In our respective companies, one of the benefits in our job level is that there are mutual funds account set aside for us. Although with my husband's company, share sila ng contributions. With my company, it's the institution that automatically contributes to the funds every month.

[neriann28]

@m_lim ay talaga sis? hindi ko alam yan ah. So pano kapag nagclose yung BPI na source ng payment? for example kasi payroll lang sya tapos lumipat ng ibang company? iclose ba yung BPI? or kelangan magmanual ka ng magtransfer?

[mebpa]

nag open rin ako ng Save Up to take advantage of the "FREE"

What's the difference betweem this and get started savings account with life insurance. Thanks

[nikki]

@mebpa, sis I don't really know the difference but as part of our emergency fund and sort of "protection" na rin, both hubby and I opened a Get Started account at BPI. It gives you max 2M life insurance coverage. We just put 500k ea. but then I realized I only need 400k for the 2M so I'm putting my 100k from that account to short-term fund. I have yet to tell hubby about this so he can do the same.

[m_lim]

alam ko hindi mo pwede i-close yung savings account mo na naka link sa save up. kung payroll, baka pwede mo naman i-keep yun kahit wala ka na sa company. between you and the bank naman yun. check with BPI nalang para sure.

meron palang Get Started. may insurance rin. papalitan ko nalang yung akin.

ang save up ata para sa "hulugan" system. kung isang bagsakan ipapasok, mas ok ata itong Get Started. ask ko nga sa monday

[ikaela]

BPI Save-Up:
1. Insures age 15-60
2. 1k maintaining balance
3. No ATM or passbook, has to be connected to another BPI savings account
4. Designed to help you "save up" money: it is to deduct a set amount (minimum of P250) from your linked savings account at regular time periods of your choice (at least once a month). You can transfer this back to your savings account anytime

BPI Get Started:
1. Insures age 15-70
2. 25k maintaining balance for ATM, 75k for passbook
3. Can make transactions through ATM, passbook, and over-the-counter
4. Can be in peso or dollar

[hermione28]

Question po about this. I'm only 22. Working for 3 years palang.

10 months palang akong nagwowork dito sa Dubai.
So lahat ng ipon sa pinas naubos nung pumunta ako dito para maghanap ng work.

Now palang ako mag start mag ipon ng emergency fund.

Magkano po ba or ano po ang tamang emergency fund?
May nabasa po akong article na dapat 5 months worth of expenses ang recommended nyang savings for emergency fund.

In my case may loan ako, ininvest ko kasi.

So kasama po ba ito sa emergency fund na kailangan kong i-save?

[j.adore]

At least 6 months daw EF and it is solely EF, not an investment.