YOU NEED AN EMERGENCY FUND! | Where to save them, How much you need | Personal Finance Philippines

Let’s talk about emergency funds! Why ypu need them, how much you need, and where to put them. Emergencies can already be emotionally and physically stressful, have an emergency fund to avoid being financially stressed as well so you can focus on other things instead.

Dealing with personal finances, especially since it’s not taught in school can be quite hard and confusing. I hope this video and this channel will help you out in the challenges we are facing right now with personal finance, entrepreneurship and adulting in general.

►Outline :
0:00 - Start of Video
2:18 - What is an emergency fund?
4:03 - What people usually do without one
5:26 - How to compute how much you need
8:08 - Where to put your Emergency fund
8:36 - 1 month
9:13 - 2nd to 6th month
10:10 - 6th to 12 month
12:26 - Useful tool for emergencies
14:12 - Tips for your e-fund

►Sources/Links

► Previous Videos :

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► Music Credit: DJ Quads
Track Name: “IT’S NEAR”

Disclaimer:
This video and description contains affiliate links where I may or may not receive a commission. This helps support the channel and allows me to continue to make videos such as this. I am not a financial advisor. Always do your due diligence.

KEYWORDS:
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[davidforesto]

I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video!.💜💜

[arvintroymadronio]

By having an emergency fund, you also protect emotional and mental health as these can prevent depression to lack of money, further escalation of financial problems (bankruptcy), or even resorting to debts, receiving bad or hurtful words from people around you and have more freedom to make better decisions in life as you have ready source of funds to do such thing.

[Jessanblanca]

Eye opener jod ang pandemic og calamities.. pinaka importante Emergency funds..sauna wakoy paki ana..sukad niwatch ko sugod sa imo channel nakat on nakog save..

[lowisii]

We had this realization after these turn of events last year. Like me nag resign ako tapos muntik na hindi kayanin ng ipon ko, ahahaha maraming gastos pala.
My backpay will go straight to my CIMBbank account 😁
Thanks for this video.

[rfpchar]

Emergency funds are underappreciated by most especially mga Pinoys. We love to borrow money for something rather than preparing for it.

[Rafael-yebs]

Thank you for the video, one thing about emergency fund after using it you have to replenish it and even update it as cost of living keeps going up so for example your emergency fund for 6 months might not be enough for 6 months due to inflation. God Bless and glad you are safe!

[relieboy]

Just started investing this week and finding your channel made me more confident with my actions.

[wmsu-josephv.tolentino]

best youtube recommendation for me this day :D

[oldmoneylifestyle]

I'm from Cebu and my Emergency Fund paid for my almost 1 week stay at the hotel to keep me comfortable and also paid for my expenses here in the province because staying in a hotel until everything is fixed is no longer practical. I only kept 5k in cash that's why it was really a hassle falling in line to withdraw money - thanks for the tip! Will keep 10-20k in cash moving forward. Thank you again Charm for the reminder of having it replenished ASAP bec we can't tell when the next emergency will be. 😊😊😊

[cozymiffy]

This is such a very informative video ate charm. I remember starting pa lang ako mag ipon ng EF ko when I first stumbled upon one of your videos and now 4x almost 4 months of EF na naiipon ko. Thank you so much! 🥰

[JustineAprilJ]

Thanks for this Charm, I think we can all say that we're glad you're safe! Eye opener yung need for on-hand cash (I hate handling cash haha 😅) and the option to put in easily withdrawable investments.

I'm just beginning to save up for my EF since I just started working last year and nakakalungkot talaga na parang walang progress since I had to use it for medical expenses. But as you said, it's the natural process. 😊

[rodriguezkhaila]

Just like Taylor Swift's songs, your contents saved me ❤️

[khalilrasalan]

wow haha thanks for the reassurance on the length you finished your emergency fund. I was kinda panicking already 😂 that helps out as its more realistic

[jaclynabregana]

Nice one, Charm!!! SUPER Relevant!! huhu. I will share this!!! Thank you!

[aryamae]

I really appreciate how you explained about Emergency fund. Brief but very comprehensive. Thank you!!!

[GhostedStories]

Hello Charm, good to see you're okay.

[coi_clouds]

I really appreciate this video. You gave me a better idea on how to handle my emergency funds especially ung on-hand cash.. super important talaga. Thank you!

[jessyespiritu]

Hi Charm, Glad you're safe and sound. Laban lang sis! I've order my ready to adult planner already! So excited na😍🙏

[arjohn_archive]

I’m 17 and watching this video, I hope to have my job at 20 while studying and I think this channel is giving me the knowledge

[maedaydreamer]

My initial reaction sa intro mo, wala kayong emergency bag? Seeing may kaya ka naman at afford mong magprepare. Pero I guess you just learn when u experience it. After Ondoy (since I live in Marikina), I get anxious every time there is a typhoon. So when I started working in 2011 ang una kong investment is an emergency kit. YES, emergency fund is essential pero kahit may pera ka kung wala talagang mabibili useless ang pera mo. Soooo for calamities for me, dapat nagbubuild ka rin ng emergency kit.