EMERGENCY FUND
Life is not always fair and has its ups and downs too. Yet it is worth making the most of it and being happy. To achieve Financial Freedom it is essential to have regular savings to invest.
MONEYMONK WEEKLY
MESSAGE 9/2019
Life is not always fair and has its ups and downs too. Yet it is worth making the most of it and being happy. To achieve Financial Freedom it is essential to have regular savings to invest.
Emergencies
often tend to disrupt and make the savings irregular.
To
over come such emergencies it is essential to first create an emergency fund
equal to about six months of your monthly budgeted expenditure and keep it
easily accessible. Don’t be tempted to use it unless its a real emergency. If
it gets used for a real emergency, recreate it as soon as possible.
For
your information, IDFC First bank gives 6% interest on a fully liquid savings
bank account with a balance of over one lakh and 7 % for a balance of over two
lakhs.
Earlier weekly messages are on my blog http://moneymonk-joe.blogspot.com/
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