October 23, 2016

This is a very timely blog I was thinking to write this week as I woke up with a family emergency.

This is not the first time that I write about emergency funds but although I have written about it in the past, I was only focused on the purpose which is obviously known to many.


Of course, again EMERGENCIES are unforeseen events we need to attend to ASAP and because they are unexpected, we are often unprepared. And because we are unprepared, we no longer have any options left but to borrow money from private individuals or private money lending companies no matter how high the interest rate will be. Wala nang choice eh, wala na ring maisanla.

As a teacher who has a regular source of income, it is actually very simple to save up for your emergency fund. But to finally save money for emergencies, you need the discipline and determination. You need to inculcate in your mind the “ant attitude”. Remember the story of “Si Langgam at si Tipaklong”?

See, saving up for emergencies is not a new thing, it’s actually since the beginning way back to our parents “Pepe and Pilar” textbooks and even way beyond that. For instance, in the Old Testament, Joseph helped the Egyptians to save up food for the famine to come. But unfortunately, many of us are still struggling of putting these stories into action.

So, how can we really save up for our emergency fund knowing how important this is? Let the 4 ways below be a reminder to us.

1.Separate a part of your salary each month

How about separating 5%-10% of your monthly income to be added in your emergency fund? In your monthly budget each month, see to it that emergency fund is not ignored. It must be a part of the budget no matter what.

2.Do number 1 regularly

It is said that an emergency fund is the equivalent of your 3-6 months’ worth of your monthly expenses. But if you don’t have insurance like health, life, car/house insurance, you need to save up for more.

So, don’t stop segregating a part of your income until you come up with that amount.

3.Lessen your unnecessary expenses

Once you take out the amount for your emergency fund, you may think that you lack the money to afford your monthly expenses. Then later, you’ll be forced to take back the amount you segregated for emergencies and spent it.

You have to do some adjustments. Lessen your spending on things that are not really important. Be specific also of what an emergency really is. Birthday parties for example are not emergencies for me.

4.Find additional source of income

To quickly save up for emergency fund, be creative to find an additional source of income. As a teacher, for sure you have creative ideas and skills that you can monetize.

I used to transcribe short video clips before and turned them into PPT slides from ODesk (it’s now called UpWork) and used to be paid for 25-30 US dollars per project.

These ways are actually doable for a teacher like you and for anybody.

Important note: Do Not Ignore

Saving up for your emergency fund is not a one man job. Everyone in the family should be game on this including the kids. They have to be involved also and understand the importance of having an emergency fund. If you are still single, let your parents, siblings, nephews and nieces know your goal of saving up for an emergency fund.

P.S. 1: If you liked this post, please feel free to share it with your friends. In the meantime, I invite you to join our subscription list to download your free e-book, How Did I Enter into the Philippine Stock Market-My step by step guide. The subscription form is just at the right side of this page. If you are using a mobile phone,  form is located below this post. 

P.S. 2: If you like to learn how to choose the best stocks to buy to maximize your earnings in the Philippine stock market, click here to get a copy of The Big Fat Fish – A simplified guide on picking stocks for newbies. 

P.S. 3: I invite you to join us at the Truly Rich Club. You can visit the website by clicking the link below or by typing in trulyrichclub.com My affiliate link: http://viol82139.trulyrichclub.com

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}


  • how An OFW Learn The Stock Market Even If Am Busyt As A Teacher Overseas
  • the Simple And Easy Ways Of Opening A Trader's Account Even If I Am Based Abroad
  • how The Stock Market Works Even If You Have No Prior Knowledge About It and Even If You Start With A Very Minimal Amount
  • how I Fund My Trader's Account Safely And Conveniently
  • the Beginner-Friendly Guides That I Wrote In This eBook Which I Did When I Was Starting