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Why emergency fund is a must for self-employed and freelancers

The problem is not inadequacy of funds, but availability, when needed. The solution is to create an emergency fund and set in place a long-term saving and investment plan. The creation of an emergency fund has to be done on priority, if you have irregular cash flow and large EMI obligation. ....

What Is An Emergency Fund , How To Create An Emergency Fund , Financial Plan For Freelancers , How Freelancers Can Create Emergency Fund , How To Set Up An Emergency Fund ,

Creating an emergency corpus: Here's how debt funds can help you


Updated Mar 12, 2021 | 06:19 IST
When a financial emergency arises suddenly, one would have to take a loan or borrow from family or friends, which could be embarrassing at times.
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New Delhi: It is indispensable to have an emergency fund as bad times never come giving prior notice. The one that we witnessed last year when the Covid-19 pandemic broke out and due to the subsequent lockdowns imposed, many lost their jobs. This has made us understand the importance of an emergency fund. Having an emergency fund ensures that you don t have to ask for others help during an emergency like hospitalisation, job loss or a pandemic-like situation. Financial planners suggest building an emergency fund, to meet such eventualities. ....

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