Trending adds money for emergencies! 1. Decide goals according to your need, decide how much amount in your emergency fund should be. This is usually a good option to have a backup of 6 months spending. 2. Make a separate account. Have a separate bank account for emergency funds. Do not mix it with other accounts. By doing so, the money will not end together at everyday expenses. 3.. Make small start to make small savings to make emergency funds. Don’t worry if there isn’t much savings in the beginning. Gradually it will become a habit. 4. You can use a car transfer function in the bank to make the habit of inserting money into the emergency fund, the car saving option. With this, the amount of your account will automatically run into the fund on the fixed date. 5. Remove non-essential expenses. Regular food, unwanted subscription or expensive hobbies, identify non-essential expenses and try to reduce it. Put the remaining amount in the emergency fund. 6. Use additional income correctly. If you have a bonus or any additional income, you can put it in the emergency fund. This will quickly increase your saving. 7. Keep cash and digital funds, holding part of the fund cash while keeping a part digital. When, where and how money is needed cannot be said. 8. Do not blow the fund in a furious, make a difficult rule that you will not use the funds of the fund. Fund fees are for emergencies and should only be used in the same situation. 9. Increase the amount from time to time. If expenses and inflation increase, then try to raise your fund. Improve your goals if necessary. 10. Choose a secure option for investment. Instead of putting emergency funds in risk investment, investing in secure means such as RD or FD. Click here Life & Style Click for more stories Click here
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