Help: how to start saving and investing

[dyepoi12]

this is my situation. im 34 single, income is 15k-16k a month. my monthly expenses are electricity bill which is less than 3k, 1k for my bro's allowance and my allowance na 3k. need advise kung ano dapat ko unahin ibuild-up. emergency fund, insurance or investments.

for Emergency fund ano-ano ang dapat ko isama?

since the day na napanood ko yun pesos and sense sa youtube which is 2days ago. nagstart na agad ako magsave and at the moment may nasave na ako 5K.

tyia

[KuyaDanny]

Aim to accumulate an emergency fund of at least P100,000. Keep that amount in safe, liquid instruments. When you have done that, then we can talk about insurance and investments.

[TastyXtina]

100k agad for emergency funds? parang masyado atang malaki yun.. i think it depends on your lifestyle. siguro for TS, 50k.. siguro kaya nmn na non isupport yng lifestyle mo for 3-5 months in the event na mawalan ka ng trabaho right? or incase na may medical emergency..

make sure na each month may mailalagay ka sa bank.. don mo muna ** palakihin.. kahit 3k-5k a month pedeng pede na yun..

tapos pag meron ka ng mejo malaking funds, marami tayong mga investors here who can give u some tips on how to grow ur money..

i would suggest start reading mga investment blogs or articles or books kasi it's hard to put money into something that u know nothing about or a little knowledge of

[dyepoi12]

kapag 100k almost 2years kung pagiipunan yan sa 5k/mo savings.
pwede na siguro yun suggestion ni Xtina na 50k. then start ako magipon para pang start ng MF. pag meron na ako MF, hatiin ko naman yun monthly savings ko, yun 3k for MF then yun 2k for emergency fund.

ok kaya yun?

[kichkichkich]

If kaya mo sir maghigpit pa ng sinturon, then why not pagsabayin mu ang pagfill up sa emergency funds mu at sa isa pang account for "future investment".

So while you are funding your EF, try to save 500/month, eventually, pagnatapos muna yung EF goal mu, you will have na agad the starting capital for your investments.

So let's say save ka ng
5k/month for 2 years = Php120,000

at the same time you will have
500/month for 2 years= Php 12,000

[KITHE ORTIZ]

Life Insurance, since you are 34 years old na, at least habang bata bata ka pa, insure your insurability while you are healthy (?)..

[dyepoi12]

thank you sa mga suggestions niyo. right now marami din ako plan na naiisip how to start my savings and investments. problem is time kasi, im not that young any more.
@KITHE ORTIZ may insurance ba na may combination ng MF? pwede ko siguro pagsabayin pag save ng EF and pag pay ng insurance

[xcalibr]

i think to get the right amount to allot for an emergency fund is to get your total expenses and multiply it by 8. i believe you are debt-free, so once you have setup your emergency fund, you can go ahead and start funding your savings or investments.

[one-shot]

unahin mo muna ibuild-up yung income mo. ang hirap magsave pag halos maubos ang sweldo mo sa gastusin. saka parang masyado atang mababa yung salary mo for a 34-year old guy. mas malaki pa yung kinikita ng mga fresh grad sa call center

[dyepoi12]

maliit nga lang sweldo ko compare sa ibang call center people. kagandahan lang kasi is yun company malapit lang sa amin. wala naman ako iba pinagkakagastusan, yun lang electricity bill and allowance ng kapatid ko and also my allowance. transpo allowance ko per day is 50pesos lang.

[johnplmc]

dyepoi12,

This is great as young as you are you are thinking to save and invest.

However, given the situation I would suggest that you follow Kuya Danny. Pull up first your emergency fund.

Ayon sa book na nabasa ko in your life you need to fill in three baskets which are:

1) Protection Basket -- emergency fund & Insurance

2) Life Goal -- House & Lot, Car, Education, etc (based on your personal life goals--where would you want to be? how will you get there?)

3) Retirement -- for your monthly expenses if you want to retire comfortably.

[jc_kito]

Sir dyepoi12 try mo mag PAGIBIG II program, at least 500 pesos a month for 5 years. Though di ko pa sya na ttry puro kasi ako mutual fund

[dyepoi12]

again thank you so much for all your inputs to my query. i will consider what kuya danny said. ill amass 100k for emergency fund first. if i still have extra money ill save it as well for MF purposes.

[abalaois]

Hi dyepoi12 and fellow PEXers.

I'd like to add na aside from your savings, you can also try stock broking since stable naman so far ang naturang industry dito sa atin. It'd definitely would double up your savings later on if you do it the right way which could help you acquire for some more investments na din.

[jm.0022]

graduating po ako at mga around 9k po ang ineexpect ko n magiging sweldo ko pagnagkatrabaho n ako. balak ko po mag invest s mutual fund. 5k s una kong sweldo taz 1k every month n lang. pero gusto ko rin po mag ipon ng emergency fund. ok n po ba yung 1k every month para s emergency fund? savings account po ba sa bangko ang pinakabagay n paglagyan ng emergency fund? kung savings account po ba sa bangko ang pinakabagay san pong bangko maganda, yung medyo mataas taas po sana ang interest pero stable. taz ok n po ba yung 3k n allowace para s personal n gastos ko o masyado maliit yun? taz mga 3k po s boardinghouse at electric bill. yung iba ko pong pera ay balak ko ipang-support ng kauntian sa family ko. thanks

[wonwon]

i know this may be offtopic pero para sakin, invest also on your health.... regular/annual check up, live healthy, eat healthy, live a stress free life, exercise, enough sleep..invest on medical/health insurance ,just in case wala ka pa..
i realized kasi na kahit gaano pa kalaki ang emergency fund, with the rising cost of healthcare, madaling ma-wipe out ang ipon...
getting sick is inevitable, it will come sooner than later..

[ginnie01]

no offense meant..pero ano ba ang course mo? why you're only expecting 9k as a starting salary?

[jm.0022]

no offense meant..pero ano ba ang course mo? why you're only expecting 9k as a starting salary?

marketing po. s makati area po ako mag aaply. inassume ko lang po n 9k minimum pag starting

[KITHE ORTIZ]

thank you sa mga suggestions niyo. right now marami din ako plan na naiisip how to start my savings and investments. problem is time kasi, im not that young any more.
@KITHE ORTIZ may insurance ba na may combination ng MF? pwede ko siguro pagsabayin pag save ng EF and pag pay ng insurance

Yes, meron, that is vul..
Email me Cristina.ortiz@sunlife.com.ph
for your financial planning analysis..

[rhaps00]

normally, how much should we save per month in order for us to have a good savings. (say 30% of net salary?)