Survive and thrive: Money tips for the typhoon season

As reported at the end of June, the country’s weather arm warns Filipinos to brace
themselves should these tropical cyclones progress as typhoons. 

You can always rely on SAVii as your financial buddy that provides insightful financial
tips for any situation—or weather. Read our tips for how you can save your hard-earned money during the typhoon
season.

• Revisit your emergency fund

  Financial experts recommend having an emergency fund that’s at least 3 to 6
  months equal to your monthly living expenses. If you live solo and do not have any dependents, having
  three months’ worth is okay. But if you have multiple dependents (be it senior parents, younger
  siblings, or your own children) who rely on you for daily needs, make sure that you achieve the
  recommended 6 months’ worth of contingency fund.

  Make sure that this stash isn’t touched for any other reason except for
  emergencies. Should you experience grave damage to your property, major loss, and are unable to go to
  work due to the calamity situation, that’s when and where you may use this fund.

  Make sure that this stash isn’t touched for any other reason except for
  emergencies. Should you experience grave damage to your property, major loss, and are unable to go to
  work due to the calamity situation, that’s when and where you may use this fund.

• Shop smart and buy online

  Water shortages, electricity outages, and food insecurity usually follow after an
  extreme typhoon. These inconveniences may make it difficult for you to source your food. What you can do is
  buy canned goods, packed foods with long expiration dates, and ready-to-eat meals online ahead of time.

  Make sure to catch the double-day sales and check out your cart along with discount/promo codes. Consider
  these items that you can add to your cart on the upcoming 8.8 sale:

  • Can be consumed cold: canned soup, canned vegetables, canned stew, tuna, sardines, other canned meats,
    and other packed ready-to-eat meals
  • Can be consumed dry: cereals, crackers, granola bars, protein bars, trail mixes, instant noodles

  By purchasing these items early, you’re sure that you’ve indeed applied these money
  tips for the typhoon season. You also get to save much money if you slowly and surely build a shelf in your
  pantry that’s specific for typhoon instances.

• Invest in electricity generators or solar-powered appliances

  One of the common jokes among neighbors is that only their rich kapitbahays can
  afford to buy electricity generator sets. However, if you save up ahead of time and an ample amount of
  money, you’d be able to purchase one, too. Gensets start at 5,000php and can go as high as 30,000php+
  depending on its energy capacity. If your savings cannot accommodate this, check out salary loan options in
  your company so you can get such useful home appliances just in time for the rainy season.

  If your house is relatively small, you don’t need to buy one that’s big. Buy one
  that is just right for your household consumption and lifestyle. Do your research and talk with experts to
  know which ones are the best for you.

  On the other hand, buying solar-powered appliances also enables you to store solar
  power during the day and use your appliances at nighttime. There are emergency lights that have fans and
  radios installed in them (between 1,700-2,000php/unit) that you can buy at your nearest appliance store.

  Being able to have an independent source of electricity amid a neighborhood-wide
  power outage gives you the ability to be updated with the news, connect with relatives, prepare meals, and
  communicate especially in case of an emergency.

• Prioritize home repairs, improvements, and insurance, if possible

  Avoid the costs of fixing damages from storms and typhoons by prioritizing improving and repairing your home in time for the rainy season. Fix that leaky roof, clean out septic tanks, and invest in proper waste disposal and management at home to keep your home in top shape even after the storm.

  There’s also the option of getting home insurance for your property to save you tons of money and give you peace of mind. By securing home insurance, you can rest assured knowing that you don’t need to spend your life savings or rely on your month-on-month income to cover sudden damages to your home and property.

  Your home insurance provider shall be the one to cover damages depending on the contract you’ll be signing with them. Take the time to research available insurance providers who can give you this non-life benefit.

The typhoon season may bring so much stress if we aren’t fully prepared for it. It is
our responsibility to make sure that we can withstand the forces of nature mentally, emotionally, and most
importantly, financially by getting ahead of the game.

If you know someone who’d be going through a rough time dealing with a calamity and its
impact, make sure to talk to them about SAVii’s value-adding offer calamity loan that can help them get back
on their feet ASAP. 😉