How much BIG should be your Emergency Fund
What if your emergency fund isn’t actually big enough for your biggest emergency?
You’ve probably heard that keep 6 months of expenses as your emergency fund. So if you spend ₹60,000/month then keep ₹3.6 lakh emergency fund.
But what if a ₹15 lakh medical emergency hits ?
Suddenly, your “So Called Emergency fund” will cover only 30% of the problem and now you’re forced to break investments, sell assets or borrow money.
That’s why your financial safety net needs 3 layers:
💰 Emergency fund ~ for short-term shocks
🏥 Health insurance ~ for medical emergencies
🛡️ Term insurance ~ for protecting your family’s income
But there is one more catch which you need to understand how much insurance you actually need without getting lost in endless policies. For that best connect to your Financial Coach or advisor who can guide you the way ahead.
by
Narendra Kr Surana
Volatility Coach & a Wealth Architect
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