Don’t know what to do with your savings? Take it from these young bankers

From left to right: Ssiala Azores, Gab Reinoso, and Amanda Cruz of BPI.

Saving up is always a responsible thing to do. But if you’re looking for more ways to utilize your hard-earned money versus just having it sit in a savings account, we’ve got you covered.

After you’ve built up a comfortable emergency fund, it’s time to explore what your money can do for you. To get you started, we asked three financially savvy bankers what they do with their savings. Here’s what they said.

This interview has been edited for clarity and length.

Ssiala Azores, Brand Manager, BPI Consumer Banking Group: 

“At first, I parked my money in a savings account, but the advice to 'make your money work for you' kept popping up. That’s when I started exploring unit investment trust funds (UITFs) and mutual funds. But after seeing those investments dip into the red, I knew I needed to rethink my strategy. Now, I’ve spread my savings across high-yield time deposits, real estate, land, stocks, and even crypto. Having a diverse mix of low- to high-risk investments helps me feel more secure and balanced.”

Gab Reinoso, User Experience Head, BPI Digital Channels Group:

“I spread my savings across a couple of different banks. Some have more stability, some have higher interest rates. I consider “savings” as something I don’t have to liquidate, which you have to do if your money is in a fund, for example. I do this for purposes of an emergency fund, or for when I’m saving up for a certain purchase, so I can take it out right away.

But in terms of investments, I have time deposits, high-yield savings accounts, bonds, mutual funds and UITFs when it comes to traditional banking instruments. Outside of that, my wife and I also bought a condo for investment, so we rent it out and it pays for itself.”

Amanda Cruz, Wealth Online Marketing Lead, BPI Consumer Platforms: 

“When I was just building my emergency fund, I kept them in a regular savings account separate from my payroll account. Once I had a comfortable cash buffer, I put the bigger part of my savings into a time deposit. As I grew my savings, I opened more time deposits and started investing for higher returns on my longer-term savings.

When it comes to investments, as someone who prefers to keep my investments put than to trade and review numbers more than once a month, I prefer BPI Peso-denominated US Equity index funds — I am a fan of passively-managed funds for their lower fees, and for this particular one that BPI offers, I can subscribe to anytime using the BPI app without needing to buy US dollars.”

Ssiala: “Absolutely! I'd definitely recommend looking into exploring different financial instruments and assets as a way to grow your wealth, but it really depends on your financial situation, risk tolerance, and goals. My advice? Start small and build up your knowledge as you go. It might seem a bit overwhelming at first, but even simple steps—like reading articles, watching videos, or chatting with financially savvy friends—will pay off in the long run.

Being financially responsible is a game-changer, and I believe it’s a skill that everyone should develop, whether you begin today or later. Remember, the best time to invest was yesterday, but the next best time is right now. Trust me, your future self will thank you.”

Gab: “In a sense, yes, but money is very personal. It depends on your lifestyle, your family situation, things like that. But what I can say is everyone should have an emergency fund. That’s the first thing you build. And then you have to set a rule defining what an emergency means — it’s not an emergency vacation (laughs). Don’t break that rule as to when you can use it.”

Amanda: “For most people, yes, it’s a sound strategy to first place your savings in “safer” places like a savings account before venturing into high-risk/high-reward investments. It only makes sense to put your money in an investment that could potentially drop up to 20% of its value once you have the extra funds and time horizon to accommodate that much volatility.

For those further ahead in their financial goals, it’s worth the while to slowly start reading up on different investments, getting to know your own risk appetite, and learning how compound interest and future value computations work.”

Ssiala: “There are a lot of budgeting rules out there, but one that worked for me is simply living below my means. I didn’t set a strict percentage for my savings, but over time, after tracking my cash flow, I found that I typically put away 20%-30% of my income for savings and investments. It’s all about finding what works best for your lifestyle and goals.”

Gab: “Honestly, I do it the other way around. My wife and I give ourselves a personal allowance. And then we set aside money for our expenses, which we budget for. And then everything beyond that, we split into savings. Once our emergency fund is built up, we don’t add to it anymore — we fill up that quick-access savings, and then we reallocate it for different goals, like vacations and investments.

I believe you shouldn’t deprive yourself too much, because that’s when you start breaking promises to yourself and spending unnecessarily. But if you give yourself some luxuries from time to time, you’re less likely to dip into your savings or emergency fund.”

Amanda: “I’ve realized that savings percentages are highly personal — I find it more useful to start with the rule of spending less than what you make, then pushing that according to your own comfort level today versus your goals for the future. We all have different lifestyles and priorities, so rather than following someone else’s 20% rule, it’s more work but more rewarding to take the time to reflect on what you want and care about, then aligning your resources, whether it’s money or time, accordingly.”  

Want advice tailor-made for your personal finance journey? Check out NEXT by BPI Preferred’s The Program for more articles like this.