I Need to Start Saving for My Emergency Funds

My Emergency Funds I actually do not know about the emergency funds, until such time that I have heard about this topic in you tube through ANC Money. Emergency funds is a fund that is ready at any time if the need arise. According to one of the financial adviser that was interviewed in ANC Money, emergency fund shall be at least 3 to 6 months of the monthly expenses of a single individual.

I also learn that emergency funds can be place in an investment portfolio that can be withdrawn at a maximum of 3 days. All I thought is that emergency fund should be placed in the bank, but I learn that the bank is not the only option to place the emergency fund.

The technique is that we need to look for a place where it can give higher yield than that from the savings bank.

I still don’t have emergency funds but I have stocks through COL. I will start saving for the emergency fund amounting to 10% of my salary until such time that I can complete the 3 to 6 months emergency funds and I hope to start it soon.

Comments

  1. […] remember that we need to be prepared for our family future. But first of all you need to have Emergency Fund before investing and control your expenditures buy knowing about Good Debt and Bad Debt. Increase […]

  2. […] means having an Emergency Fund which is equal to 3 – 6 of your monthly expenses (Very Liquid). Getting an Insurance and Long […]

  3. […] now your money that was saved because you have not changed your lifestyle can now be placed in your emergency fund (3 months of your […]

Leave a Reply

Your email address will not be published. Required fields are marked *