How much is the ideal emergency fund for an ofw couple?

January 9, 2012 | By Fitz | Filed in: Personal Finance, Productivity & Mindset.

Should it be 3 or 6 months worth of combined income or expenses?



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7 Responses to “How much is the ideal emergency fund for an ofw couple?”

  1. Fitz says:

    It’s usually equal to 6 months worth of your combined expenses. After that, you can put the extra money you get after in moderate to aggressive investments.

  2. erds518 says:


    emergency fund is a saving equivalent to “6 months of your salary as an individual”

    if your a couple, Combined salary of six months.

    This fund will be used as an emergency expense tool if you loose your job, has sickness in the family emergency cash to spend.

    In simple words “you can live atleast 6 months without work” that is the idea of emergency fund.

  3. futuretaipan says:

    @fitz and @ erds518

    – I assume that you both have emergency funds šŸ™‚ If so, how long did it take you to have your emergency fund? I calculated our combined monthly salary x 6 months and it might take us 4years to save for the emergency fund! šŸ™

  4. erds518 says:


    using some saving strategy is the best advise i can give you, Like the envelop system and the pay yourself first strategy

    pay yourself 10% of your salary monthly,

    for example 20,000 ang salary monthly, after receiving yung sweldo mo, immedtly take 10 percent off around 2000 pesos, then put it in a seperate saving accounts that serves as your savings, in that way you can spend your salary without worrying.

  5. Fitz says:

    It took me around 2 years. Yes, it will take very long… but it will be worth it. Trust me.

    Aside from being a good saver. I looked for ways to earn extra income… and almost all of my earnings through those went to the building of an emergency fund.

    If you pay yourself 10% every month from your salary and put your whole 13th month pay / christmas bonus to your emergency fund… in two years, you already have around 4 months worth of emergency fund.

    The key is really staying patient, focused and resisting the temptation to spend on what’s unnecessary.

  6. futuretaipan says:

    Ok – will try the 10% concept. šŸ™‚

    Will reply back for update, thanks. šŸ˜‰

  7. erds518 says:


    This might help

    There is an account in BPI where there is an automatic transfer of fund from your BPI saving account. Its Called BPI Direct Save-Up + Life insurance

    You can nominate any amount to deduct from your current savings account or salary account to that account so you will no longer bother transferring it yourself.

    You can just nominate 10% already to that account and the deduction may seems unnoticable, in that way you have an easier way in saving

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