by Lxmecommunity on Oct 21, 2022
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A community of women that help you 1. Learn the basics about investing2. Earn money from home3. Invest in the right tools4. Borrow from the right sources 5. Spend wisely - using golden budgeting tips
What role does emergency savings play in achieving financial stability and goals?
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M
318d
・answered 318 days ago
Hey! An emergency fund is equivalent to 6-8 months of your monthly expenses and it is the sum of money that you put aside for any contingencies falling upon you. You can create an emergency account by investing in securities that are highly liquid while allowing your money to grow. The ideal way of investing in an emergency fund is by keeping 10% of the amount required in a bank account which provides a high-interest rate. The remaining 90% can be invested in instruments like ultra short term debt mutual funds, short-term fixed deposits, recurring deposits, etc. Visit the MyMoney tab to check out the Goal Calculator to know how much you need to invest and then explore LXME Gulluck and Ultra-short term portfolio. Hope this helps! https://lxme.onelink.me/95JV/LXMExCoto
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