Emergency Funds and Saving

[anuragmukherjee28]

"How much should one aim to have in their emergency fund, and what's the best way to start saving for it?"

 

[skadaver]

First calculate your fixed monthly expenses (including EMIs, rent, bill payments, groceries etc) and your should aim to have an emergency fund that can cover you for 5-6months without your regular income source. This fund should be easily liquidated meaning you should be able to retrieve them easily. My suggestion would be to put this in FD (in case you have lumpsum) or start a RD.

 

[anuragmukherjee28]

First calculate your fixed monthly expenses (including EMIs, rent, bill payments, groceries etc) and your should aim to have an emergency fund that can cover you for 5-6months without your regular income source. This fund should be easily liquidated meaning you should be able to retrieve them easily. My suggestion would be to put this in FD (in case you have lumpsum) or start a RD.

thanks for this

 

[Gigachad]

"How much should one aim to have in their emergency fund, and what's the best way to start saving for it?"

3-6 month of month basic expenses in liquid assets..

 

[cardy]

I would recommend to have a fund with your six months salary or business income

 

[MaheshShinde]

6 months of your in hand salary and the best way to start as oer my suggestion is RD...