According to the 2021 Financial Inclusion Survey from the Bangko Sentral ng Pilipinas (BSP), the COVID-19 global pandemic reduced the number of Filipino adults with savings by 25%, from 38.6 million in 2019 to 28.9 million in 2021. This means more and more Filipinos lack the means to fund their needs in the event of emergencies like illness.

Fortunately, in the same way that you can prepare for rainy days, you can also anticipate and plan ahead for possible expenses. And if you are financially prepared, you will have enough resources to cover your family's expenses; thereby, avoiding borrowing money, taking out loans, or falling into debt.

That is why having a rainy day fund, also called an emergency fund, can provide peace of mind. It protects your savings from being drrained by situations such as job loss, illness, or hospitalization, or even disasters such as flooding. When reality comes pouring down, do you have a financial umbrella on hand? Here are some ideas to get you started on building your rainy day fund:


Evaluate your financial situation. Start by assessing your present financial status. This will allow you to identify your resources, check on expenses you can forego, and plan how much money to set aside for your rainy day fund. Think about personal needs, financial goals, debt, and cash flow, among others.

Set a target amount. Conventional financial advice may say a rainy day fund should be anywhere from three to six months’ worth of expenses. However, as the pandemic has shown us, giving yourself a longer lifeline can make a difference, especially during emergencies.

Create a budget. This will guide your spending and help you avoid excessive purchases which can affect the money you will allot for your emergency fund. Set aside a portion of your monthly income and strictly observe this until you reach your goal.

Save extra money that may come your way. One of the quickest ways to budget for a rainy day fund is to save your 13thmonth bonus, pay raises, part-time work income.

Keep your emergency fund in a separate savings account.This way, the money set aside will not be in danger of being used for day-to-day expenses.

Make saving for the rainy days a habit. If an emergency occurs and leads you to spend your rainy day fund, make sure to replenish it. Even if you have already met your target amount, it is critical that you continue to set money aside on a regular basis.

Invest in Mutual Funds. Diversify by investing in mutual funds. A mutual fund investment is liquid, making it easily accessible should the rainy days come. And unlike other investments, you don’t need to to spend much time monitoring your investments nor the expertise to track the market because there are investment professionals who will help you maximize potential returns.


At Sun Life, we offer mutual funds through Sun Life Asset Management Company, Inc. (SLAMCI). Here are some reasons why it can further help you in building your fund:

  • Affordable: Low minimum investment to open an account. You can open an account for as low as Php100 and build your funds regularly.
  • Professional Fund Management: You have professional fund managers analyzing, trading and monitoring the funds for you.
  • Your investment is diversified into different securities: You are not limited to a certain stock or bond, thus, minimizing your exposure to risk.
  • Mutual fund returns are not subject to withholding tax.


We’ve created easy and accessible financial investments ith the right mix of funds for all types of investors. Learn more about mutual funds here.

It is critical to begin saving for a rainy day fund as soon as possible. As your Partner for Life, we are here to guide you and be financially prepared for the future. Talk to a Sun Life advisor today!

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