POSTED BY September 5, 2013 1:22 pm COMMENTS (4)ON
YOU SAID ” first of all, please allocate amount at least 9 months’ expenses. Once it’s done, please focus on wealth creation”.
I’ll arrange the Allocate for 9 mnt’s Exp Amount (eg-200000). Where am i Park this amount ?
Pls. explain & recomment me
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4 replies on this article “EMERGENCY EXPENSES AMOUNT – WHERE AM I PARK THIS AMOUNT?”
Dear Ashal, Sunil & Ashish,
Thank you very much for all.
Dear Raja, please park 4 month’s money into SB account & another 5 month’s money into a liquid fund.
Sometime back I has asked the same question. You may check out the link below for your reference and see if this helps to some extent.
It can be spread across 2 avenues (highly liquid).
1. Le it be in your Savings Account hving Auto Sweep to FD (SBI and Yes Bank as far as i know has that option).
2. Rest can be put into a Liquid Fund.
The ratio can be depending on your wish, i park 70% in my Savings Account and 30% int Liquid Fund.
Main mott of this Fund is getting liquidity and not high returns, so an 8% return in your Savings Account and 6-7 % return from a Liquid Fund should be wonderful
This is my view.