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Emergency Fund: No one can say when and what kind of situation may arise in life. That is why it is always right to be prepared for emergency. When you need money for what work. In such a situation, the savings made by you come in handy. It is very rare that a relative or a friend comes to your aid on such an occasion. That is why you should always keep an emergency fund ready for the difficult times in life.

Many people do not have their own house. While working, they also plan to buy a house. If your salary is less than 1 lakh rupees and you want to buy a house. Then how many months emergency fund should you have. Let us tell you complete information about this.

This much emergency fund is necessary on salary less than 1 lakh.

In the uncertainties of life, you should always prepare yourself to avoid difficulties. Many times, such difficulties come into your life. Where you do not have a source of income. But you have a lot of expenses. An emergency fund comes in handy at such times. This is the fund in difficult times when you lose your job or a big expense comes up suddenly. Or you have to pay a lot of money suddenly.

If your salary is less than 1 lakh rupees. Suppose it is 70 thousand. Then you should have an emergency fund of at least 4.2 lakh rupees. Let us tell you that money equal to 6 months of anyone's salary should be kept as an emergency fund. On the other hand, if you also want to buy a house. Then your emergency fund should be for 9 to 12 months instead of 6 months. Because if the house is taken on loan. Then the EMI of your house will also have to be paid.

How to prepare an emergency fund?

Creating an emergency fund is not a very difficult task. You can transfer a fixed part of your salary i.e., 10 to 20%, directly to the emergency fund. Apart from this, you can also do a SIP for this every month. If you are getting a bonus. Or you have received money from somewhere together. You can also deposit them directly into the emergency fund. Keep in mind that the emergency fund should be such a fund that you can use it immediately when needed. It should not happen that you take time to access the money lying in the emergency fund.