That depends on so many factors, e.g., your income level, your savings rate, nos. of dependents, your goals and your time frame. I suggest you go to a financial planner. Spending 10-20k might not sound good initially, but in long run that would be very beneficial. Alternatively, you can contact a good MFD, who can help you with selection of funds based on your requirement. Third alternative is, if you have time, to study and learn the nitty-gritty of mutual funds and then invest yourself.
Save two months of your necessary expenses in emergency fund first without doing SIPs and avoiding any unnecessary expenses. After that, you can divide the savings money in SIPs and EF, until you have enough saved for 12 months of expenses.
