How/Where are you saving up for emergencies during these uncertain times? #covid

I have an emergency fund of liquid mutual funds which has about 4-6 months worth living expenses in it. Now I’m thinking of making that 12 months :stuck_out_tongue:
Emergency funds really help with being stress-free. :woman_cartwheeling:

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Fixed Deposits in these uncertain times =)

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Yes, uncertain times call for certain measures :D. In better times, did you park your emergency money somewhere else?

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I’ve invested 3-4 months worth my expenses in liquid funds. I chose to invest in them mostly for the flexibility the offer. I can invest and withdraw anytime I want without having to any penalty (except an exit load if withdrawn within the first 7 days).

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Liquid funds and now in my newly opened IDFC Niyo account as it provides 7% interest. :slight_smile:

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1 month expenses in cash.
2 month expenses in Bank Account (Now in Niyo IDFC)
3 month expenses in FD (Will just move it to Savings Account in Niyo IDFC when FD matures, and high interest rates remain in IDFC)

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Little skeptical about the Liquid Funds. :grimacing:

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45 Days expense in Cash

90 Days Expense in Bank Account (Not Niyo IDFC as I don’t have an account yet, nor an invite. Would be nice if someone could invite me though! :innocent:)

Apart from a 180 day contingency in Liquid Funds (again no invite yet, so not in Niyo IDFC :v:)

So a 1:2:4 going on there

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As far as I’m aware, the waitlist is on hold right now due to high demand.

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