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How much to Save for an Emergency Fund?

Tue, 4 Feb 2025

5 min read

Personal Finance

Key takeaways:
 

  • An emergency fund is a reserve of cash set aside in accessible accounts to cover unexpected expenses like medical emergencies or job loss.

  • Aim to save 3-6 months' worth of monthly expenses; for example, if monthly expenses are Rs. 60,000, set aside Rs. 1.2 to 2.4 Lakhs.

  • Start small with achievable goals, automate savings, reduce non-essential expenses, and stop over-saving once you've reached your goal.

  • Opt for liquid investments, like liquid mutual funds or short-term fixed deposits, to keep your fund safe and accessible.

 

 

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