1. Varun Arora says:

    I want to know what should be the corpus size of my emergency fund. Some experts say it should be equal to 6 months income.But covid19 pendamic has changed the paradigms. So please elaborate on the size of emergency fund corpus.


    1. Hi Varun,
      Thanks for your question. The size of the emergency fund depends mainly on your expenses and not income. Also, the size of the corpus will vary from person to person. Someone with higher financial obligations such as kids and loans may have to save more than someone without any financial obligations. Also, it depends on how you want to build your emergency fund. Do you want to make it a bare-bones fund that will only suffice the basic essentials or do you want to include occasional treats as well?
      There is no one answer that will fit all. So, you will need to consider your circumstances and build an emergency fund.


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