Comments on: Why you need an emergency fund http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/ Financial freedom and other money matters Mon, 12 May 2008 22:29:26 +0000 http://wordpress.org/?v=2.3.2 By: kurt http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-24 kurt Sun, 24 Feb 2008 23:36:41 +0000 http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-24 Rural banks are a good way of earning money...they give as much as 7 to 16% pa on time deposits. Of course, make sure you know what the risks are..but generally, money below 200k PhP should be safe cause it will be insured with the PDIC :D It'll really be hard trying to convince Pinoys to have an emergency fund when there's always something tempting enough for them to buy, be it a new cellphone or an upgrade on their car or whatnot. Plus Pinoys will always rely on their network of friends and family ("uuy pautang") in times of dire need so they won't see the point of breaking their backs to save for an emergency fund. But nice try Celine ;) Rural banks are a good way of earning money…they give as much as 7 to 16% pa on time deposits. Of course, make sure you know what the risks are..but generally, money below 200k PhP should be safe cause it will be insured with the PDIC :D

It’ll really be hard trying to convince Pinoys to have an emergency fund when there’s always something tempting enough for them to buy, be it a new cellphone or an upgrade on their car or whatnot. Plus Pinoys will always rely on their network of friends and family (”uuy pautang”) in times of dire need so they won’t see the point of breaking their backs to save for an emergency fund. But nice try Celine ;)

]]> By: nina http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-21 nina Sat, 23 Feb 2008 16:06:00 +0000 http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-21 Medyo malaki din ang initial deposit if converted to peso. Pero for OFWs here, tamang-tama kasi instead of sending the dollars in the Phils, ipunin na lang sa e-savings. Meron din mga deposit product ang banks dito to jumpstart savings. Medyo malaki din ang initial deposit if converted to peso. Pero for OFWs here, tamang-tama kasi instead of sending the dollars in the Phils, ipunin na lang sa e-savings. Meron din mga deposit product ang banks dito to jumpstart savings.

]]> By: Celine http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-17 Celine Fri, 22 Feb 2008 11:51:13 +0000 http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-17 Wow, I don't see interest rates like that for savings accounts here in Manila. Meron din naman, pero not with major chain banks and usually with withdrawal limits or with high initial deposits (from what I've been researching, usually over P250,000). Eventually when I bulk up my emergency fund to that kind of amount, I'd love to get those rates for savings accounts or TDs. But for now, I can't :( Wow, I don’t see interest rates like that for savings accounts here in Manila. Meron din naman, pero not with major chain banks and usually with withdrawal limits or with high initial deposits (from what I’ve been researching, usually over P250,000). Eventually when I bulk up my emergency fund to that kind of amount, I’d love to get those rates for savings accounts or TDs. But for now, I can’t :(

]]> By: nina http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-16 nina Fri, 22 Feb 2008 08:53:33 +0000 http://frugalpinoy.com/saving/why-you-need-an-emergency-fund/#comment-16 We are currently buiding our emergency fund. I opened a high yield saving account at 5.99% pa here in Qatar. It's e-savings so no ATM, no cheque. Withdrawal can only be done via wire transfer. No holding period and no withdrawal limit so you can withdraw anytime. I believe this is a better deal than many deposit products. We are currently buiding our emergency fund. I opened a high yield saving account at 5.99% pa here in Qatar. It’s e-savings so no ATM, no cheque. Withdrawal can only be done via wire transfer. No holding period and no withdrawal limit so you can withdraw anytime. I believe this is a better deal than many deposit products.

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