By Admin 
Emergency fund: When the situation comes in life, nothing can be said. That is why it is right to always be ready for emergency. When do you need money for what work. So in such a situation you are useful. Savings by you. It is very rare that on such an occasion, a relative is working for you. Therefore, you should always prepare an emergency fund for difficult times in life.
Many people do not have their own home. While doing the job, they also plan to buy a house. If your salary is less than 1 lakh rupees and you want to buy a house. Then how many months you must have an emergency fund. Let us tell you complete information about this.
So much emergency fund is necessary on salary less than 1 lakh
In the uncertainties of life, you should always prepare yourself to avoid difficulties. Many times such difficulties come in your life. Where you do not have an income source. But there are many expenses. Emergency fund is useful on such an occasion. This is the fund when you do not have a job in difficult times or a big expense comes completely. Or suddenly you have to pay a lot of money.
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If your salary is less than 1 lakh rupees. Suppose it is 70 thousand. So you should have an emergency fund of at least 4.2 lakh rupees. Let us tell you that 6 months equal money of anyone’s salary should be kept as emergency fund. At the same time, if you also want to buy a house. Then your emergency fund should be 9 to 12 months instead of 6 months. Because if the house is taken on loan. So EMI will also have to pay the EMAI of your home.
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How to prepare emergency fund?
Preparation of emergency fund is not very difficult. You can transfer a fixed part of your salary i.e. 10 to 20% directly to the emergency fund. Apart from this, you can also do an SIP for this every month. If you are getting a bonus. Or you have received money from somewhere. You can also deposit them directly in the emergency fund. Keep in mind that emergency fund should be such a fund, you can use immediately if needed. It should not happen that it takes time to access the money lying in the emergency fund.
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