Big Companies laying off their employees🤯⤵️
• Byjus 12,000
• Meta 11,000
• Amazon 10,000
• Twitter 4,400
Beware! You could be next!😲
It’s time that u better get ur finances in order!
Here’s why?⤵️
#amazonlayoffs #TwitterLayoffs $AMZN
• Byjus 12,000
• Meta 11,000
• Amazon 10,000
• Twitter 4,400
Beware! You could be next!😲
It’s time that u better get ur finances in order!
Here’s why?⤵️
#amazonlayoffs #TwitterLayoffs $AMZN
An emergency would never knock on your door. It would just smash through the window & would leave you no time to prepare.
That’s where an 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗙𝘂𝗻𝗱 helps you to fight with all kinds of uncertainties. 💪
#byjusturmoil
That’s where an 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗙𝘂𝗻𝗱 helps you to fight with all kinds of uncertainties. 💪
#byjusturmoil
𝗪𝗵𝗮𝘁 𝗶𝘀 𝗮𝗻 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗙𝘂𝗻𝗱?
As the name suggests, an Emergency fund acts as a lifesaver in case of any emergency. It is a readily available source of liquid funds that can be used in case of any financial problem
As the name suggests, an Emergency fund acts as a lifesaver in case of any emergency. It is a readily available source of liquid funds that can be used in case of any financial problem
𝗪𝗵𝘆 𝘀𝗵𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮𝗻 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗙𝘂𝗻𝗱?
Emergency fund backs you up in case of any undesirable financial situation like the one that occurred in 2020 during COVID.
Unemployment rose to over 20% during the lockdown.
Emergency fund backs you up in case of any undesirable financial situation like the one that occurred in 2020 during COVID.
Unemployment rose to over 20% during the lockdown.
Even today, when these big MNCs are laying off, the employees might face a financial crisis.
Therefore, it is always advisable to have an emergency fund to avoid such situations.
Therefore, it is always advisable to have an emergency fund to avoid such situations.
𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗮𝗺𝗼𝘂𝗻𝘁 𝗶𝘀 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱?
The avg time to find new job is 3 months. Therefore, it is advisable to have at least 3 to 5 months' expenses as ur emergency fund.
For Eg, if ur monthly expenses r Rs 50,000, u should have 2.5 lakh as an emergency fund.
The avg time to find new job is 3 months. Therefore, it is advisable to have at least 3 to 5 months' expenses as ur emergency fund.
For Eg, if ur monthly expenses r Rs 50,000, u should have 2.5 lakh as an emergency fund.
Now, this amt should be invested depending on the preferences. Ideally, you should divide the amt into long-term & short-term funds.
• Long-Term Fund: We should use this fund for extensive emergencies like medical situations, natural calamities, or unemployment.
• Long-Term Fund: We should use this fund for extensive emergencies like medical situations, natural calamities, or unemployment.
This amount is not urgently needed; hence it can be invested in slightly illiquid funds where the returns can be higher with minimum risk.
Liquid funds can be a great option to earn interest on your money where you can withdraw the amt whenever required
Liquid funds can be a great option to earn interest on your money where you can withdraw the amt whenever required
• Short-Term Fund: This fund should be highly liquid. It should be immediately accessible in case of emergency. The best option is to keep this amt in cash at your home or in the savings bank.
Having an Emergency Fund is not an option, it's a necessity! 😎
Apart from the emergency fund, there are several other parameters through which you can achieve financial freedom in your life.
Apart from the emergency fund, there are several other parameters through which you can achieve financial freedom in your life.
With Finology, u can get correct guidance on how u can create ideal portfolio to generate wealth & fight against all emergencies.
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