[vc_row][vc_column][stm_spacer height=”150″ height_mobile=”-100″][vc_custom_heading source=”post_title” font_container=”tag:h4|text_align:center|color:%233f3f3f” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal”][/vc_column][/vc_row][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_single_image image=”13753″ img_size=”large” alignment=”center”][stm_separator color=”custom” style=”style_3″ custom_color=”#0d97ff” sep_width=”200px” sep_height=”10px” sep_css=”.vc_custom_1571309810608{margin-top: 20px !important;}”][vc_raw_html]JTVCRElTUExBWV9VTFRJTUFURV9TT0NJQUxfSUNPTlMlNUQ=[/vc_raw_html][vc_column_text]Financial stress is more prevalent than ever during Covid-19.  We are faced with reduced incomes and a potential health emergency lurking in the uncertain future.  But you can take steps toward stability in the midst of this pandemic. When you’re financially stable,  you’re ready to absorb any financial shocks these uncertain times may throw at you.
Starting with a savings micro-habit will help you gain a foothold to take the first steps on your financial wellness journey. Identify a savings goal to keep you motivated. Building an emergency fund is a great first goal, since this fund will serve as a cushion to help you absorb financial shocks. In order to build that financial cushion, you need to build up your savings muscles with a monthly saving habit. 
Set your first milestone at P25,000 for this emergency fund, then grow it to 6 months of your total essential expenses per month over time. 
For more on how emergency funds can give you confidence click here.
After this cushion is established, you’ll need to set new savings goals. But no bank account, no budget, and no personal expense summary is built the same, so first consider where you are now. Your age is a simple way to decide on some guidelines for how much money you should have in savings.  
In your 20s, it’s all about establishing good habits. 
In a perfect world, 10 to 20% of your income would go into a PERA account when you receive your first paycheck.  The sooner you start learning responsible habits, the more you will save, and the more control you will have over your own life. 
By age 30 you’ll want to have at least 1x your annual salary saved. The advised minimum amounts for savings grow with the number of candles on your cake – by age 35, you’ll want to have 2x your annual income saved. By age 40, 3x your annual income should be in savings. By age 50, you’ll want at least 5x your income saved. 
This savings guideline is for money you want to keep intact, so be extra careful when investing beyond this threshold of your savings. 
By age 60, you’ll want 7x your income saved, and since our life expectancy is increasing, it would be wise to plan to have 11x of your income saved and ready for spending by the time you are at age 80. Remember- as we age, our expenses will likely increase![/vc_column_text][vc_raw_html]JTVCRElTUExBWV9VTFRJTUFURV9TT0NJQUxfSUNPTlMlNUQ=[/vc_raw_html][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row disable_element=”yes” shadow_x_offset=”0″ shadow_y_offset=”0″ shadow_blur=”0″ shadow_spread=”0″][vc_column][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]