How much money should I have in my Scripbox Emergency Money?

It’s recommended that one should keep a minimum of 4 months of their salary as an emergency corpus. If you have dependents (like family), then 6 months or more of your salary is a must. Since this can’t be built overnight, you need to start investing NOW and gradually reach the final amount. Having an emergency corpus is a basic financial need for all. You can cut down on your other investments in order to first set crisis-proof your future.

Keep the following facts in mind when deciding on the actual amount for your emergency corpus.

  1. The size of your emergency corpus depends on how secure your job is and how many dependents you have.
  2. You will need to consider the EMIs and insurance premiums that you have to pay regularly.
  3. Households with huge EMIs will most likely experience higher financial stress when the income reduces. Their emergency corpus has to be much bigger to cope with the needs.

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