Emergency Fund formula: <\/p>\n\n\n\n
Monthly expenses x 6 to 12 months<\/p>\n\n\n\n
Example: 50,000 x 12 = 600,000 Pesos<\/p>\n\n\n\n
Where to keep fund: Banks, savings accounts, under your pillow or in your house, etc. <\/p>\n\n\n\n
Logic: If the source of income (job, business, pension, etc.) is lost, we still need money to eat, have water and electricity, internet, travel, live life as if we still had an income. <\/p>\n\n\n\n
The best example is during the massive job layoff and extra-long quarantine periods in 2020 and 2021. An emergency fund will be helpful for a few months in situations like those.<\/p>\n\n\n\n
The Emergency Fund is meant to be temporary and will act as an income replacement until an actual income source is found.<\/p>\n\n\n\n
Keep the fund liquid enough (read: usable at a moment’s notice) so you can receive it and use it easily! <\/p>\n","protected":false},"excerpt":{"rendered":"
Emergency Fund formula: Monthly expenses x 6 to 12 months Example: 50,000 x 12 = 600,000 Pesos Where to keep fund: Banks, savings accounts, under your pillow or in your house, etc. Logic: If the source of income (job, business, pension, etc.) is lost, we still need money to eat, have water and electricity, internet, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"wp-custom-template-afasfsaf","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/posts\/15"}],"collection":[{"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":2,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":80,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/posts\/15\/revisions\/80"}],"wp:attachment":[{"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kuyajj.jmjfamily.com\/index.php\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}