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How To Use Your Emergency Fund?
January 27, 2025
|The New Indian Express Mysuru
UBRA has ₹1 lakh of emergency fund. Should Subra use that money to invest in ELSS to save some income tax?
Reader's Question.
I asked her how much is your monthly expenses? She said ₹50,000 but could go up to ₹70,000. How much time did it take to build this ₹1 lakh as emergency fund?
She said—about 8 months.
This is what I told her: You need about ₹4-6 lakh as emergency fund because you have young children and ageing parents to support. Right now, you have only ₹1 lakh and you have struggled reaching here. Also, using Emergency fund for investing or even paying Income tax is not the best way to handle money! Paying taxes is better than investing in ELSS especially for you.
هذه القصة من طبعة January 27, 2025 من The New Indian Express Mysuru.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
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