This is how to create an emergency fund to get rid of various economic problems in the future To meet future needs to prepare a fund which can save from undone situation. – News18 Bangla


#NewDelhi: Danger does not knock on the door. Be it medical or any other need, raising a large amount of money for a problem that suddenly arises is a matter of misfortune. In such a situation, using the savings saved for the future can solve the temporary problem but other dangers arise. Nothing is left for the next day and the purpose for which the money was saved remains unfulfilled. The best option to avoid this problem is the Emergency Fund. These funds will save for the future as well as solve emergency problems.

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6 months emergency fund

The amount of money in an emergency fund should be 6 times the monthly salary. Suddenly danger came to the door so that no fire would come in the family for at least 6 months like before. If the monthly salary is 50 thousand rupees, then 3 lakh rupees should be kept in the emergency fund.

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Before making an emergency fund, it is important to remember that this fund should not be used for any reason other than an emergency and it cannot be considered as a savings. According to experts, no problem lasts for more than 6 months. During this time most of the time the danger goes away or we find a way to solve the problem.

How to deposit emergency funds?

Emergency funds need to be invested in places where money can be easily withdrawn. Cash can be deposited in a general Saving Bank account from where money can be withdrawn from an ATM using the card at any time. It can also be invested as a Liquid Mutual Fund (Liquid MF) as the money from this fund is only invested in money market securities. This is why the risk in this investment is very low. Emergency funds can also be deposited in the form of Fixed Deposit (FD) or Recurring Deposit (RD).

Emergency funds can be divided into three categories, namely, short-term, short-term and medium-term investments.



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