Emergency Fund

[etxetera]

Meron ba sa inyong may Emergency Cash sa bahay, opisina, o kung san man? Magkano ba dapat?

Nabasa ko lang ito pag yung hindi ka maka-withdraw o kung walang bangko (extreme cases).

At least 5-10k on hand I think is okay basta siguraduhing di gagastusin. May ATM na naman sa panahon ngayon na magandang back-up kung need extra  immediate cash.   

[plumpolka]

YES! dapat laging meron. Mahirap na. Kaya pag may extra akong pera, nasa savings talaga agad. Yung iba kong ka-officemates pag may nakuhang bonus, bibili ng kung ano ano na hindi naman kailangan, may mabili lang. kasi iniisip nila "extra" naman yun so okay lang gastusin. sakin kasi, i keep it sa savings ko para kung may gusto man din ako bilhin, yung di ako makatulog sa kagustuhan ko, may pambili ako. kung wala, edi papatulugin ko lang yung pera ko sa bangko. and as much as possible may limit ako ng hanggang saan ko lang pwede gastusin yung savings na yun. or sakin yung isa kong bank is for savings lang talaga. savings and emergency funds kung kulang ako ng pambayad ng ganito ganyan. then yung iba kong account is for bills/payroll na.

[iluvescadasport]

Yun emergency fund ko, ginawa ko is total amount ng needed payments if for example 6 months ako walang job and I have to pay for everything (ngayon kasi parents ko pa nagbabayad sa lahat e)

So nagbudget ako monthly for 3 meals and 1 snack a day, water and electricity bill, cellphone bill, monthly dues (we stay at a condo kasi).  Nakalagay yun total amount na yan sa savings account ko, plus 50k na minimum maintaining balance

Meron din ako emergency cash fund, nakatago sa house amounting to 10k. Just in case na biglang naccident tapos kailangan mahospital, or biglang earthquake or for whatsoever important emergency within that day.

Every month i have an "extra budget" na pambili ng junk food, or check up if may sakit.

[123abc]

May naipon po akong $5,000 from my previous work abroad. Emergency fund po sana namin 'to. Iniisip ko na either ilagay siya sa BPI Short Term Fund or sa BPI US Dollar Short Term Fund. Saan po ba mas kikita siya sa 2?

[ikaela]

^If dollar, place it in dollar para wala na gastos for foreign exchange transaction fees.

Although I hope your dollars make up only a part of your emergency funds especially if you are already based in Pinas. You don't want to be scrambling around looking for a money exchanger in the event of a real emergency situation.

[xtine]

May naipon po akong $5,000 from my previous work abroad. Emergency fund po sana namin 'to. Iniisip ko na either ilagay siya sa BPI Short Term Fund or sa BPI US Dollar Short Term Fund. Saan po ba mas kikita siya sa 2?

Sis, back in 2011, I was assigned outside PH and I received USD as allowance.  Hindi ko nagalaw so dineposit ko sa BPI.  That time the USD rate was around 1 USD = 39 PHP.

Ngayon, halos 50 PHP or 51 PHP na ang rate to a dollar.  In fairness I earned more that 100k if ipapalit ko sha at this time.  Kaya eto ang naging emergency fund ko since then.  So for me, hindi sha sa gaano kataas ang interest pero kung gaano sha kikita sa forex.

[123abc]

thank you sa input niyo ikaela, xtine! tama, lagay ko sya sa BPI US Dollar Short Term Fund. 

part lang yun ng emergency fund ko. may iipunin din ako sa sweldo ko ngayon.

[PrettyEomma303]

Hello guys! Buhayin ko lang ang thread na ito because this is so important especially now that we are in the middle of a crisis.

How is everybody holding up?  Are you able to keep up with your current lifestyle because you have saved up enough in your emergency fund?  If not, are you able to get financial help for your family to get by?

This crisis really enlightened me of the importance of an emergency fund.  Although hubby and I am able to work from home, thus we still have stable income, we still continue to beef up our EF and not touch this fund.

We see a lot on TV na talagang naghihikahos ngayon.  People are waiting for financial help from the government, a lot are actually demanding it (eyeroll din minsan).  It just shows how Filipinos are not really preparing for emergencies.  We should really encourage everyone to start saving para maging handa sa ganitong bagay and hindi kailangan umasa sa gobyerno.

[twelvth_goddess]

I'm very thankful na nagpe pay off yung money management namin. We are very old school in terms of budgeting our finances, we still use the envelope system and we prioritize savings over expenses. And thanks to the good Lord we were able to sell our condo last January kaya ang laking dagdag sa savings kase napostpone yung plans namin to go to Canada this year. Very important talaga mag save and this is just one of those instances na maa appreciate mo yung efforts to keep your hands off unnecessary expenses.

[xtine]

Hope everybody is safe!  I work abroad and good thing my line of work enables me to work from home so i am very thankful.  In terms of emergency fund, meron ako nakatabi na mga 3 months worth of expenses.  I actually have more but I decided to lessen my emergency fund (from 6 to 3x) to invest in index fund and stock market because now is the perfect time to start building my portfolio in stock market and index fund because of the sale prices.  I was thinking that once this is over, at least i have invested some of my funds and once the stock market is back to normal, i will resume building up my 4x to 6x emergency fund.  I hope I made the right decision.

[eeyanross]

^Same tayo sis    Take advantage lang sa situation as long steady ang income.  Nagm-monthly pa din ako nang konti sa EF which adds up yearly din.

[exquisitegem]

I'm sure this lockdown made everyone aware how important it is to have an emergency fund. We never know what lies ahead e. Personally, are aiming to have an emergency fund which is equivalent to 6 mos of our combined salary. We will definitely work hard to achieve it. So far kasi parang nasa 3-4 mos pa lang yung sa amin kasi kumuha kami ng investment property last year.