Westrive – For you who already work, must have an emergency fund has already become a necessity. Right? Even though you are still a beginner in the world of work, you should still have and stored in the instrument emergency fund in accordance with your needs.
Trivial well it sounds? Eits, don’t get me wrong, Ferguso! An emergency fund is very important for you, because this fund can be an alternative to the flow of your funding when something happens that is unexpected and urgent.
Keep in mind yes, nominal emergency fund you need to prepare is 6 times the cost of spending your needs for one month. This minimum figure. If you have additional dependents, yes could be even greater. So, it could be interpreted if an emergency fund is able to meet your needs for at least 6 months in case of emergency.
So, let’s discuss more about the emergency fund, but before I want to just remind the importance of an emergency fund, and then discuss deh instrument.
This he lists the contents of this article. Sila listened to, may choose according who wanted to read first. But yes most okay, just read it all until it’s finished.
Why we need an emergency fund?
You need to know that life is full of risks. One such risk is the loss of fixed income or a reduction in income. Well, when this happens to you, then you can do is financial plan and prepare it correctly.
In addition to the risk of losing income, you also have to prepare for the risk of expenses and expenditures that you can’t plan at all, as an example of the cost to repair the car, repair the gadget, unfortunate accident, suffered from a natural disaster, or when the cost of the treatment that can not be covered by insurance.
The purpose of an emergency fund is to prepare for the needs or the cost of unexpected and urgent, then an emergency fund should also be easily thawed and taken when you need it.
This is what you should look for when want to save an emergency fund
- Keep revising the magnitude of the emergency fund in accordance with the rise in status, income, and your expenses every month
- The instrument for an emergency fund should be safe, liquid, and easily accessible
- Choose the right instrument for saving an emergency fund
Well, remember the importance of this fund, continue further, let’s go to the recommendations of the appropriate instrument to save them, so that can be quickly thawed and also safe.
The Recommendations Of The Instrument Emergency Fund
Bank Savings Accounts
One of the instruments of an emergency fund is most appropriate for beginners is a bank savings account. Opening a bank account can allow you access to emergency funds in such accounts freely, anytime and from anywhere. Because you also can’t predict when overridden in an emergency situation. So keep an emergency fund in a bank account will help you a lot.
However, there are also disadvantages to save an emergency fund in the bank account, that is the risk of inflation, which could result in the value of the savings account decreases.
When compared to bank accounts, emergency funds, funds that are stored in the deposits will be more difficult to be melted, because the deposits have the tenor of the time that has been set since the beginning and be decisive when you can dilute these deposits.
Granted, the tenor of which is owned deposits is brief compared to several other investment instruments. The average tenor of the deposit for 3 months, 6 months, up to 1 year. But, yes, really, it took time for thawed. Or if you want to reckless thawed more quickly, yes must be willing to there is a penalty.
Save funds on deposit also has a minimal amount and deposits also have a return that is greater than the bank account.
For you are a beginner, choose gold investment is not a new thing anymore, it should be huh? In addition to as an investment, you can also choose gold as an option for menyiman fund your emergency.
Investment in gold is considered the most low-risk and has a return that is quite tempting. The risk of loss tend to be small, but this applies if you store it in a fairly long period of time.
FYI, you still have a number of additional costs when you save an emergency fund with gold. What are the additional costs? Additional costs in the form of administrative costs, the cost of printing the gold, the cost of the certificate (if any), and so forth.
Age now who are already advanced, you don’t need to be confused in where to buy gold, not to be in the gold shop kok. Already many online platform that offers buying and selling of gold in digital, e-commerce in Indonesia is also already there such as Tokopedia, Bukalapak, and so forth. Later, the gold you buy digitally, will be stored in savings online gold.
Money Market Mutual Funds
Instrument emergency fund the latter is a money market fund.
Money market mutual funds is relatively low risk as well. In money market mutual funds, allow you to invest in money market instruments such as SBI (sertifikat Bank Indonesia), bonds, and deposits.
There are several advantages if you choose mutual funds as an instrument emergency fund, namely:
Can start investing in mutual funds from the nominal Rp100.000
Disbursement of funds is also quite fast, in about 3 working days after the submission of the
Get the return of the deposit
Well, that’s some of the recommendations of the instrument emergency fund that you can select. From the fourth to the above instruments have a low risk and has a value that ride regularly.
However, the increase this value a little. This is because the directly proportional to the risk is relatively low, when compared to larger investments such as stocks. But of course, because liquidity is relatively high, then the instruments above are suitable as storage media such funds.
Try to set aside at least between 10-20% per month from the salary or the total income you receive. If larger, it would be better also. Choose the right instrument to save an emergency fund in accordance with your needs, yes. You could also select more than one instrument, this is to avoid losses terlelalu large.
Hopefully useful for y’all.