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The Economic Times

Business

Himanshi Singh

With Rs 50,000 salary, does a 6-month emergency fund mean having Rs 3 lakh? Practical tips to achieve the right amount

Mutual Funds Insurance

Keep a 6-month emergency fund ready; you've probably heard this. But how should you calculate the ideal emergency fund amount? For someone earning a Rs 50,000 monthly salary, does a 6-month emergency fund mean having Rs 3 lakh? Or should they aim to amass 6 months of expenses?

That's where many people get the calculation wrong. Charu Pahuja CFP, Director and COO, Wise FinServ, tells ET Wealth Online that one should go by expenses and not the salary to calculate the ideal 6-month emergency fund.

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