Emergency Fund

Emergency Fund

emergency fund

Eto yung perang nakalaan in case may mga emegency at mangailangan ka ng pera. Dapat madaling i-access ang pera at makukuha mo agad kung kailanganin mo. Example nito kung magkasakit ka, kung mawalan ka ng work, magkaron ng calamity or such things.

Eh yung mapadaan ka sa mall na may nakalagay na 90% OFF SALE? Hindi po yan emergency, gastos yan. Iwasan agad bago ka mapagastos kung wala ka rin lang naman pambili.

Imaginin mo kung nag-iinvest ka na at wala kang emergency fund. Kung biglang nagkasakit ka or nawalan ng work, pano ka na? Pano na expenses mo? Pwede mo bang sabihin sa anak mo na “Anak walang trabaho si Daddy, wag muna kayo kakain ha”. Or sa landlord mo, “Wala akong work eh, saka na lang ako magbabayad ng rent”.

Eh di malamang madukot nyo yung investments nyo. Or nabenta nyo yung mga assets nyo. Pano na lang ang compounding non, eh di naputol lang at back to zero kayo. Kaya dapat bago mag invest, may emergency fund.

Ngayon, gaano ba ang sapat na emergency fund?

Unang una, dapat alam mo kung magkano yung monthly expenses mo. Kasama lahat ng gastusin ha!

Kung single ka, dapat ang emergeny fund mo eh nasa 3 to 6 months. Kung married with kids, dapat nasa 6 to 12 months.

Nagets mo ba? For example ang total expenses mo sa isang buwan ay P20K, kung single ka dapat may P60K to P120K ka na emergency fund. Kung married ka naman, dapat around P120K to P240K.

So kung ngayon maisipan mong bumili ng condo for investment, make sure to add your monthly mortgages to your monthly expenses. As expected, tataas din ang emergency fund mo dapat. Maliban na lamang kung may special arrangement ka na in case mawalan ka ng work or hindi makabayad eh ok lang mag pass muna or skip payment. Pano kung hindi, eh di baka ma foreclose lang ang property mo.

Ngayon, san mo naman ilalagay ang ganon kadaming pera?

Remember our purpose? Para madaling makuha ang pera. Yun dapat lagi ang iisipin mo.

Yung 1 week to 1 month ng fund mo, gawin mong cash on hand. Lagay mo sa baul or whatever. Bakit ‘ka nyo hindi sa bank? In case of calamity na close ang bank or offline mga ATM’s, may magagamit ka.

The rest, ilagay mo sa bank  You see, I love banks.

Let’s may 12 months emergency fund. Syempre medyo malaki na din yun. Yung ginagawa ng iba, nilalagay sa time deposit na monthly or months lang ang maturity. Imagine if you have time deposit na monthly ang maturity. If you will spread your emergency fund over 12 months, ibig sabihin din every month meron nagmamature. Ang point is, nag effort ka to make your money work harder than savings account.

I’m not telling you to follow it, medyo toxic sya. Just put your money in the bank na lang if that’s what you prefer.

Never mind inflation. Emergency fund purpose is not to beat it.

So next time magtanong ka kung pano mag invest, dapat meron ka nang emergency fund.

Tandaan, never start investing without it. Isama mo na yung dapat wala kang utang at dapat insured ka.

Kung andon ka na sa point na yun, tara usap tayo 

About Richard Macalintal

Hi my name is Richard. I am a Registered Financial Services Consultant in Singapore. If you have any queries or you need help on your insurance policies and investment linked products, feel free to message me :-) We can have a cup of coffee while I do financial review and give advice with regards to your finances :-) Contact me thru email rlmacalintal(at)yahoo.com or SMS me +65 82235186. Disclosure: I am a Financial Consultant of AIA. The statements or opinions expressed on this site are my own and do not necessarily represent those of AIA.

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