Why you need to create a separate emergency fund1 min read 23 Oct 2018, 08:22 AM IST
As a rule of thumb, advisors suggest keeping at least six months’ worth of expenses aside as emergency fund
An emergency fund is an accumulated pool of money that you can use towards any unforeseen contingencies that may arise. There are sudden large spends which can be catered to via adequate insurance like medical expenses, car damage and theft. However, there are other emergencies like job loss or sudden large sum of money that your family member needs which you cannot cater for other than from your savings.
Select your Category