I waited for about 2 months before my Info Card arrived but since I enrolled via my BPI Express Online I can easily access the records of my accounts.
I decided to do a 500pesos every 5th and 20th of the month so that I know I have 1000 automatic monthly savings.
Today I should have almost 11,000pesos already in the said account but sadly I only have half of the emergency fund goal reached. Last March, I transferred all of my emergency fund to my regular fund and withdraw them because there are too many things that ruined my budget. It took me a month to recover.
Things That I Learned
1. Automation is the king. It feels so good how automatic saving is.
2. Think many times before deciding on how much you are willing to put in the fund and the interval for you can’t change it already. Make sure to start on the minimum which is 250pesos a month I believe (or you can do 250pesos every cut-off) and if ever you have your bonus or extra money deposit on the account number via counter.
3. Never let failure stop you from saving. As I told you earlier I commit a sudden mistake in my finances and withdraw the full amount of my emergency fund to accommodate my expenses. But I decided to still push through with my emergency fund and become fully committed to save. Even if I will have this instances that I want to quit and go to the nearest BPI and ask how I can deactivate the Direct Save Up, the spirit of financial management still rules inside me and I am thankful that I was able to get back on track with my emergency fund.
December is a good month for events so I am looking forward for additional money for my save up. Hopefully I can close a 10,000pesos by the end of the year. Again this I am still slowly saving for my emergency fund. My target is still 50,000pesos!