Emergency Fund
An emergency fund acts as 'insurance for your insurance' — covering 3 to 12 months of expenses so unexpected costs (job loss, medical, family emergencies) don't force you to sell investments at the wrong time.
Rule of thumb
- Stable employment (civil servant, large company): 3–6 months
- Typical salaried worker: 6 months
- Self-employed / freelance: 12 months
- Dependents (spouse, kids, parents): +2 months
- No health insurance: +1 month
Keep it in highly liquid accounts (checking, short-term fixed deposit, money market fund). Don't chase returns on emergency money.