What is an Emergency fund and why do you need it?

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By failing to prepare, you are preparing to fail ˜Benjamin Franklin

As per CMIE [Ref¹](Centre for Monitoring Indian Economy), approx. 18 million persons have lost their employment in April 2020. Losing jobs in the current turbulent times have added to the woes of Indians. A lot of distress calls have been doing rounds and people have been panicking due to financial losses. When life throws such nasty bombshells, do you have a second plan for yourself, for any emergency? Having this plan B in the form of an Emergency fund will certainly help you come out of this financial distress. 

Related Read: Need for women to handle Financial Planning

What is an Emergency Fund?

Remember: When disaster strikes, The time to prepare has already passed ˜Steven Cyros

Emergency preparedness should be a priority as an emergency will never knock at your door and wait for you. Start on building this fund…

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