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02.12 - 19:45
Why do you need an emergency fund?
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After going through the unanticipated lockdowns and massive health crises in the wake of COVID-19, it is quite clear that emergencies can occur anytime without any warning signals. This is the biggest reason why people have grown more conscious about prudent money management and creating emergency funds.
Indraneel Chatterjee, Co-founder, RenewBuy says, “Emergency funds should be created in life to meet any kind of unforeseen mishap- like a car breakdown, job loss, or medical expenses. One should keep aside a sufficient amount, depending on the financial capacity of the individual, which can be utilized during any financial crunch, without affecting one’s investment goals.” Hence, it is quite clear that especially in the post-pandemic era,
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