How to build an emergency fund in 2023?

We bring to you the most awaited video on Emergency Fund. In this video we talk about what is emergency fund, why do we need to keep emergency fund and the most important question what can we do build an emergency fund.
Watch the video till end to get a excel sheet that will help you build emergency fund.

00:00 - Introduction
00:35 - What is an emergency fund?
01:22 - Why is emergency fund important?
04:32 - A case study on how to build emergency fund
08:19 - Where to invest emergency fund?
11:20 - Conclusion

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[keerthi]

Thanks. I have tiered my emergency funds that can cover up to 2 year of expenses as follows: Savings Account, Liquid Funds, Money market Funds, Arbitrage Funds, Conservative Hybrid Funds, Multi-Asset Funds, Index Fund. The last two takes on risk but would be the last to go to for emergency.

[kaustavsaha]

1. Savings account - with sweep in.
2. Corporate Debt Funds
3. Liquid Funds

[vignesh]

Thanks a bunch. I've been reading through dozens of articles talking about emergency funds, so a lot of the things mentioned here were familiar.
But this essay allowed me to organize all that data in a cohesive manner. 👍

[chhavikantsingh]

I lost my job during pandemic in march 2020 and I had only 5k in my back account post that i was job less for next 9 months and fast forward to 2023 I bought my own house ... Have 10 stocks worth 10 Lakhs & mutual funds of 5 Lakhs ... On top of that I have build emergency fund of 12 months of my expenses... I build it using equity booked profits from few stocks and kept of rebuying the stocks at later stage but one thing is for sure you have to have that discipline for multiple years or months...to get this you won't get this over night of just by watching videos

[rohitmule]

I suggest keep at least 5% money as cash in order to compensate for cash conversation issues with liquid fund.

[vishaldubey]

Fun fact :- most of the viewers have no fund for fullfilling their wants and see the video of emergency fund.

[JackSordakaPVS]

Thank you so much for this information, Groww. I wish I had this knowledge 4 years ago... 🙏🏼🙏🏼🙏🏼

[gaurangibhatt]

Its a very very imp topic.. Background music should not b there

[vivekvs]

The idea of sweep in is nice but may not be activated all the time. Won't putting in multiple smaller fds help in a similar way?

[subhankarghoshiim]

Anu also need to buy gifts for Diwali and book flight tickets to visit hometown. That additional 60k is gone now 😢

[harmanvirk]

I will create my emergency 🆘 fund now, Thank you mam for this information ❤

[ashutoshgupta]

Thankyou for such valuable inputs on where to park emergency fun. You guys are doing great job..😊😊

[MA]

This performance linked bonus must be implemented for Central Government employees also, some work so religiously and some just lazy as sloth, but year end both will get same. If implemented our government office will function more efficiently than before

[ajmulsarkar]

I'm manage my emergency fund combine method. Like auto sweep saving Account+ Liquid direct fund.

[iam_ravi]

What about ELSS MF to keep emergency fund..i started in oct 2019 with 20% of my salary and keep invested till oct 2021 in mirai asset elss. Today it has given me good return on my invested amount and as per current value it is my 20 month Emergengy fund and it will still go upside.

[amolpatil]

Very good video and cleared everything on emergency fund. Thank you

[babahimachali]

You didn’t mention about taxation. Debt funds will be taxed as per your tax slab so be careful when investing in such funds.

[dhruvkapadiya]

What about inflation??? And best option to invest is purchasing gold.. price will grow with time and also it is highly liquid. After six/12 months time a person can have a good emergency fund so gold is way better...

[vijaykandpal]

Bhut hard calculation hai... Iska liya excel sheet ko jurut hoti hai... Thanks a lot mam

[ashimsarkar]

It's too much important for all of us...
Thanks a lot mam...
Very informative about emergency fund..✅️