The Emergency came before the Fund was gathered!

It's been almost two (2) months since I last wrote on my financial literacy blog. So many things happened, so many learnings learned, some good things and some not so good things. Often times I relate and connect the dots to what I write to how things happened in my life. There was this topic I wrote which I remembered after a tragedy came to our family and it was about "Emergency Fund".

It's really important to have emergency fund, but in my case; when I was about to gather it, tragedy came.

Last December 9, 2011 (Friday) a fire emerge at Magallanes Street. Let me share you my story a few days before the accident happened.

December 7, 2011 (Wednesday) 2-days before the incident, we (glamourshots crew) travelled to Seagull Mountain Resort (Buda) for a wedding shoot. My boss told us to travel in the afternnoon so we'll have enough time and rest because the wedding would be on the 8th. So I packed up my gears and the clothes I need for the shoot and a few "pambahay" for sleeping. Since Buda is in a high altitude place, i brought my jogging pants and jacket. I have 2-bags with me (gears and clothes).

December 8, 2011 (Thursday) 1-day before the incident, the wedding preparation is about to start, it's early in the morning and we're heading where the couple is staying. That day had a very nice weather, sunny yet the cool breeze of air is felt. We worked starting from the preparation until the end of reception. Since we are scheduled to leave Buda before it gets dark (foggy road path) we sent our goodbyes to the couple and head back to Davao.

They should understand your "WHY"

While I am still accumulating resources for my "Emergency Fund"; as I have written on my previous post [Before saving, have an Emergency Fund], I am sharing some ideas to my mom. I find the most convenient time to talk during we're together at the table either eating lunch or dinner. I share what I learned through my readings, experiences and with the talks from people I met from time to time in the topic of money, investments and other financial matters. I also end up questing my mom if she knew about these matters when she's at my age - she just smiled. I sometimes throw-in some joke around with her saying "how come you never taught us about these matters if you knew?"

To my understanding, my parents may have ideas about savings, investments, insurance and other financial matters but it may only be the tip-of-an-iceberg. They may have heard about those but never really had the courage to dug-up because of their mindset, to be a good employee. Most probably they're not much of a risk-taker, maybe because they're afraid to fail and since there are three of us in school, they wanted to be on the safer side.

When we undergo changes in our lives, especially for the ladies getting into the adolescence stage; we often go to our parents or the people who are close to us. We are trying to ask questions and we are continually letting them know our situations. The same thing if we wanted to pursue financial growth for our future. They should be the first to know about our plans, share with them our ideas and maybe they are also willing to do the same and help each other. My family is one of the reasons I am doing this, they may not be directly involved on every aspect but indirectly they will somehow feel the difference as I start doing my financial planning.

Before Saving, have an Emergency Fund

The term "emergency" sometimes put us to a state where we panic. Often times we would ask what happen? Due to life's uncertainties we may really expect things to go not as planned, these unexpected things we may consider emergency. Different people have different emergencies and incidents in their life and often times may require resources to be used, particularly money.

A few years back, 3-years ago to be precise, it was my first serious encounter with a financial planner. He introduced me to savings, investing and insurance. The first thing he asked me was, "Do you have an Emergency Fund?" - my answer was what's that? I have money in the bank can I use that instead? - and he smiled.

He explained to me in simple yet specific way what Emergency Fund is, and where it's intended to be used. He also highlighted to me that savings should not be considered as emergency fund. So my question in mind is "what and how can i start my emergency fund."

The "WHY" I am doing all of this

If you have read my previous post they you may have followed me at my earliest stage of blogging. I did mention a very short introduction of myself, from what study I finished, what my passion is and what my heart desires.

I always believe that something happens for a reason. A reason bigger than our reality is a huge part of asking ourselves the "Why" question.

Let's start with; why do we study - to finish and get good job. Why we need to have a good job? - To earn and save money. Why do you save money? - For our own future and to have a business of our own when time comes.

A Little Info About Me...

I'm a Computer Engineer by Profession, Photographer by Passion and Entrepreneur by Heart. If you're trying to connect the dots on those words you'll be wondering how because I also did wonder before.

Studied Computer Engineering because I wanted to learn more about computer and how computer technology affect different aspects in our life through computer systems, integration, hardware development and others aside. Good thing this helps me a lot to understand more about the internet and how it works.