When the PH government declared the Community Quarantine in the middle of March 2020, everyone was taken aback by the sudden (though expected) declaration.

"no-money-poor-money-no-crisis" by 1820796 is licensed under CC0

Companies, with the capability to give remote work set up to their employees, had given just that to ensure continued services to clients. However, business that requires their employees to do physical/field work was forced to stop/limit its operations. Due to this, many workers were displaced and are now dependent on the government for aid.

As of this time, no one knows how long this lockdown will last. And how many more companies will be forced to downsize and displace more workers. As what happened so far, the outsourcing sector is one of the most affected by this pandemic. The company where I work is also experiencing the effects of this virus, making my employment status, as of this time... unstable.

This comes to the topic of having an Emergency Savings Fund set for the rainy day. An Emergency Cash Fund is the starting step of every financial plan. However, it is not an easy task because setting aside some amount when you are getting all of the expenses on a single income source is a near impossible feat. This is specially the case to some (if not most) of our fellow Filipinos.

The government offered financial assistance to all those affected. This can definitely help but given the rumored quarantine extension, this aid may not be enough. To extend our budget lines, we may need to look at Personal Loans to be used as Emergency Funds. Loans may have a negative connotation but in this trying time, utilizing what is offered like the HDMF (Pag-IBIG) and the Social Security System (SSS) is not a bad choice. Even banks are easing up their terms of their loans.


This pandemic has taught us to always prepare for the future. Any preparation made today will always have its benefits tomorrow.