But now that our company is in deep financial crisis and the status of the lot where our house is built is still uncertain, I realized that my emergency fund is not enough. That's the reason why I stopped making an additional investment to my mutual funds and decided to rearranged my emergency funds.
As of today, I have three major emergency funds deposited in a special savings account in Wealthbank - Housing/Inv. Fund, Health E-Fund, Family E-fund. My Personal E-fund & my two ATM cards were my transient/buffer funds.
My Family E-fund - is intended for any family related emergencies. It was primarily my personal fund but I decided to set it as Family E-fund. I have 30k in that fund & decided to trim it down to 20k for now. I renew this special savings account every two months & it has an interest of 1.75% per annum.
My Housing/Inv fund - This is my new goal - I am trying to raise a certain amount here.
This actually came from my capital contribution account but it was really intended for our house but since I've been hearing negative news about the status of our lot, I need to set aside an amount that I can use in sangla tira (I'll create a separate post for this.) I also call it an investment fund because I am still optimistic about the status of our lot. If positive result happens in the future, I'll be using this fund to secure the property which I think for me is an investment too. This special savings account has 2.25% interest per annum & I renew it every three months.
My personal E-fund - this is just an ordinary savings account with an interest of 0.25% per annum and I treat it as my transient fund where some amount from my special savings account & their interest were deposited before I finally transfer it to my Housing/Inv fund. This is also where I make my regular deposits no matter how small the amount is, heheh.
(Sorry, the photos above are doesn't look good. "Sira po kasi ang android cellphone ko", I used my low end one, heheh)
MyCash Atm in Wealthbank - was originally my renovation fund but I've already used most of my savings here for my mother's check up & the repair of our roof. I will rebuild this fund as soon as I recover financially.
My BPI Family ATM savings account - is my transient/buffer fund. I've used most of my funds here because of the delayed salary I am experiencing right now but I plan to rebuild my savings here as soon I recover financially.
There it goes - I have revealed my emergency funds. Still not a solid one but at least some of these funds helped me surpassed the financial difficulties I am experiencing right now and hopefully be prepared in the future too. In Gods' Grace I know I'll be able to recover. Basta for now, my priority goal is to finish my studies first.
Just sharing my thoughts and experiences again!
An interest of 1.75% to 2.25% in not wise but I think its appropriate for emergency funds.
How about you? What are your emergency funds?
God Bless!
wow dame mu emergency fund!
ReplyDeleteIsa lang ibig sabihin nyan sis - marami akong problema na alam kong darating sa hinahaharap, heheh...yung iba nagsisimula na ngayon kaya kailangan seryosohang maghanda na.
DeleteThanks for dropping by sis!
Nakakabilib ka sis kasi ang dami mong e-funds samantalang ako nagsisimula ulit because of house renovation nung May. Huhu. Anyway, I know nman na kikitain mo rin ulit yung mga nabawas mo sa mga e-funds mo.
ReplyDeleteIsa lang ibig sabihin nyan sis, marami akong nakikitang problema sa hinaharap, heheh. Pagdating sa pagpagawa ng bahay iniiwasan ko yan, magastos talag pero fulfilling kapag natapos. Hopefully mabalik ko yung personal e funds ko. Thanks for dropping by sis! God Bless.
ReplyDeleteSakit sa ulo talaga if lot problem 'no? May lot issues din kami na since bata pa ako ay nandyan na, and until now di pa tapos. Pero nakakabilib talaga kung paano mo naiingatan ang pera mo. I pray that your company will survive this financial crisis and that whatever will be decided on for the lot will be in your favor.
ReplyDeleteSinabi mo pa sis, nakademanda ngayon yung tenant na binilhan namin at may issue pa na baka raw mahagip kami ng C6 road kaya on hold ko muna yung pangarap kong pagpapaganda ng bahay. Ready ko lang muna yung pera saka ko na isipin ang problema, Thanks a lot sis.
DeletePeace of mind ang dala ng emergency funds. Tama ka, hanggat maaari dapat malaki ang pondo natin dyan, kasi maraming pwedeng mangyari na dapat handa tayo. Nakakabilib ka talaga, Grace! About your problems, masosolusyunan lahat yan, tiwala lang kay God habang ginagawa mo rin ang the best mo. :)
ReplyDeleteThanks ms, edel. Yung nga ang na-realize dapat lakihan pa ng emergency funds kaya mas less ang worry at kinakaya kahit 2 months delayed na sweldo ko heheh, 2 months na sa august 15. thanks sa pag drop by. God Bless.
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