EMERGENCY EXPENSES AMOUNT – WHERE AM I PARK THIS AMOUNT?

POSTED BY Raja ON September 5, 2013 1:22 pm COMMENTS (4)

BROTHER ASHAL,

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

RAJA

4 replies on this article “EMERGENCY EXPENSES AMOUNT – WHERE AM I PARK THIS AMOUNT?”

  1. Raja says:

    Dear Ashal, Sunil & Ashish,

    Thank you very much for all.

    Raja

  2. Dear Raja, please park 4 month’s money into SB account & another 5 month’s money into a liquid fund.

    thanks

    Ashal

  3. Ashish Garg says:

    Hi Raja,

    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.

    http://localhost/jagoforum2/emergency-fund-what-to-do-with-it/7509/

    Ashish

  4. sunil says:

    Dear Raja,

    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.

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