As a rule of thumb, you should have at least 6 months of expenses saved as an emergency fund
Credit cards don't work well if you have to transfer the money to a family member on an urgent basis. Been there.
Try to keep liquidy in cash. When you have enough built up in FD or a separate bank. You get to sleep peacefully.
Emergency fund depends. You've a good Credit Card with min 2L limit? Then don't worry about quick liquidation, but osmething that can be taken in 3-4 days. FD of max 1L with 7-8% returns. Good Medical and Term Insurance set? Then you're set, nothing big than that will be required unless someone blackmails you for money 😂
Well : depending upon
Thats it.
Currently most of my emergency fund is in FDs. Was planning on storing in multiple options. FDs are not even beating inflation these days.
Have seen people keeping multiple tranches of emergency funds. combination of Multiple FDs in d...
I have lump sum of 3.6 lakhs in my savings account. Pls suggest where to invest it.
I am thinking of 50% of lump sum invest in FD and 50% of lump sum in liquid funds.
As u guys know only 5L is insured, I want to know how much you’re comfortable keeping in account? Maybe someone’s living expense could be 10L a year and they are okay with keeping that as emergency fund liquid, just an instance. But give...
I grew up in a family which used to be just above poverty line. My mom had worked a lot to provide making 7K a month. I now have a job that pays 15lpa. Other than good food on table I'm not sure what i should do with the money. I save ev...
Similar background, always dreamt of a decent gaming pc or console. First thing i did after setting up sip was buyi...