Maraming advantages ang pag-iipon. However, nothing beats the peace of mind na dala ng savings. Anumang emergency o opportunity ang dumating, alam mong masu-survive mo ito.

In a world that delivers instant gratification mula sa flash sales at food deliveries, it takes self-discipline to have savings. Still, it doesn’t mean na hindi ka na pwedeng mag-enjoy! Kailangan mo lang matutunan ang habit ng pag-iipon before enjoying the rest of your salary.

Kaya naman lahat ng guides to money management ay nagsisimula sa budgeting. If you understand your spending habits, then you’ll know magkano ang pwede mong ilaan sa living expenses, non-essential spend, and savings.

So bakit kailangang mag-save?

Savings ang magiging buffer mo from unexpected expenses, opportunities, and problems. Firstly, you can just withdraw from you emergency fund in case of health issues, job loss, at iba pang emergencies. In contrast, mapipilitan ka pang manghiram o umasa sa charity ng iba without an emergency fund.

In addition, savings help you prepare for short-term expenses. By saving small amounts over a long time period, magiging realistic ang pag-abot ng long-term goals. Kikita ka rin ng additional percentage ng iyong savings if you use a savings account. This annual percentage is called interest rate. Ito ang easiest and most accessible way na kumita ng passive income.

More importantly, savings give you financially independent hanggang pagtanda. By saving early for retirement, you’ll ensure na maganda ang quality of life mo until old age. Hindi ka mapipilitang umasa sa maliit na pension mula sa gobyerno. The good news is, most retirement savings accounts offer compound interest para sa maagang pag-iipon.

Magkano ang dapat kong i-save?

This rule is based on the 50/30/20 budgeting guide ng Harvard bankruptcy expert na si Elizabeth Warren. (Ang natitirang 50% ay para sa living expenses at 30% para sa non-important expenses.) Magandang starting point ito para sa mga first-time savers.

However, you can also customize your savings based sa mga sumusunod na factors.

• Monthly living expenses. Pwede kang mag-save ng at least 3-6 months’ worth of living expenses as emergency fund. Living expenses are your spending for basic needs. Examples are housing, food, healthcare, at bills.

Example: Juan pays Php 10,000 for rent, Php 5,000 for groceries, and Php 5,000 for all utility bills. His monthly living expenses amount to Php 20,000. Therefore, ang emergency fund niya should be Php 60,000, o three months’ worth of living expenses.

• Priorities at goals. Consider your most immediate goal o expense na kailangang pag-ipunan, at ang time frame mo para makumpleto ito.

Example: Juan needs Php 20,000 para sa first birthday celebration ng kanyang anak. Kung ang birthday ay 8 months away, he needs to save Php 2,500 monthly for 8 months.

Kung small amounts lang ang kaya mong i-save, okay lang ‘yan! Just be realistic at consistent with saving to make it a regular habit.

May pera na ko pang-save! Saan ko ito dapat i-deposit?

Ang best place na paglagyan ng iyong savings ay savings accounts. Here’s why.

• Kikita ka ng interest rate. For best results, choose a savings account with high interest rates and compound interest. GSave, for example, has a 2.6% starting interest rate na pwedeng tumaas up to 4%.
• Insured ng bangko ang iyong savings. All legitimate savings account have insurance coverage na up to Php 500,000 from PDIC (Philippine Deposit Insurance Corporation).

Recap: Ang 3 basic steps to build savings

1. Make a budget. By budgeting, you’ll know kung magkano ang extra cash na pwede mong i-save.
2. Build an emergency fund. Mag-ipon ng at least three months’ worth of living expenses to survive future emergencies.
3. From there, save at least 20% ng iyong monthly take-home salary. Choose a savings account with a high interest rate to grow your savings faster.

There’s no better time to start saving than now! Consider this your starting point sa anumang short-term o long-term goals that you have.

Encouraged ka na bang mag-save? Then it’s time to check out our discussion of different savings accounts. Dito mo naman malalaman kung alin ang bagay sa iyong short-term o long-term financial goals.