Comments on: Why you need an emergency fund

By: Lianne

Lianne — Sun, 28 Aug 2011 14:31:07 +0000

Thank you! Right now, I have 2 months worth of expenses. I am trying to save up at least 3 months worth so that I can put the rest in 30-day time deposits.

By: The Frugal Pinoy Garden Project: Introduction » Frugal Pinoy

The Frugal Pinoy Garden Project: Introduction » Frugal Pinoy — Sun, 07 Jun 2009 20:00:22 +0000

[...] and practical skill to have. Also,I love the thought that even if I stop working and drain out my emergency fund, I’ll always have something to [...]

By: Building An Emergency Fund « Practice Prudency

Building An Emergency Fund « Practice Prudency — Sun, 07 Jun 2009 13:22:16 +0000

[...] http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/ [...]

By: Celine

Celine — Sat, 24 Jan 2009 03:19:36 +0000

It depends on what you plan to use your savings for. It’s not a good idea to save “just because”, or else it’ll be easier to spend your savings on unnecessary expenses. Are you saving up for your retirement, for travel, for a laptop you’ve been eyeing, or for a house? Your savings have to be “assigned” to go somewhere so that you know what it is that you’re saving up for.

In my case, right now I’m saving up for my emergency fund, my retirement, and the house I hope to build. So I guess you could say I have 3 kinds of savings.

By: OneTamad

OneTamad — Fri, 23 Jan 2009 19:34:12 +0000

Thanks. That was the method that I thought of, too. The emergency fund is still different from my actual savings, though, right?

By: Celine

Celine — Wed, 21 Jan 2009 05:31:20 +0000

That would depend on how much extra money you can set aside each month. Even if it’s only Php 500/month, the important thing is that you set aside some money regularly that you can use for emergencies.

Of course, the more you can set aside per month, the easier it will be to build an emergency fund that’s worth 3 or 6 months of your living expenses (whatever your goal is).

Does that answer your question? Just let me know if my explanation isn’t clear.

By: OneTamad

OneTamad — Tue, 20 Jan 2009 12:52:54 +0000

I hate to sound stupid, but I’m a beginner at this. How do you build up an emergency fund?

By: Protecting Yourself Against Layoffs » Frugal Pinoy

Protecting Yourself Against Layoffs » Frugal Pinoy — Tue, 20 Jan 2009 01:47:44 +0000

[...] up your emergency fund. I’ve written about emergency funds so many times, which just goes to show how important they are – especially in times of financial [...]

By: What are you doing with your extra cash this Christmas? » Frugal Pinoy

What are you doing with your extra cash this Christmas? » Frugal Pinoy — Mon, 08 Dec 2008 20:08:59 +0000

[...] Emergency fund. [...]

By: 5 Ways to Make Saving Less Painful » Frugal Pinoy

5 Ways to Make Saving Less Painful » Frugal Pinoy — Mon, 22 Sep 2008 17:59:10 +0000

[...] and have a reward for each milestone you reach. For example, if you want to save P100,000 in your emergency fund, you can reward yourself for every P5,000 or P10,000 you successfully stash away for [...]