Because a prepared entrepreneur is worth two, we tell you how to have an efficient emergency fund that protects you against unforeseen events.
Various studies on financial culture in Mexico show that few Mexicans allocate money for unforeseen events. That is, to meet the payments they have to make when there are health problems or emergencies.
This is very unfortunate if we think that we are all exposed to an unfortunate event at any time involving the disbursement of large amounts of money.
Emergencies come when you least expect them. Therefore, it is always good to be prepared for everything. Because a prepared entrepreneur is worth two .
For this you need the emergency fund. There is no set amount for it, but experts recommend that it be enough to cover the expenses of an entire family or business for three months.
And don't be confused! We are not talking about three months of income but about having enough savings to meet a quarter of basic expenses necessary to function. Things like electricity, water, telephone, Internet and other services.
Here are the characteristics that an emergency fund must meet to be efficient:
This fund must be maintained by adding money month by month, in order to make it more solid and effective.
It is a saving that should not be used for other things; that is, it must remain practically untouchable.
It is very easy to fall into the temptation to have it totally or partially. However, it should be clear to you what actions are not an emergency.
For two reasons: it can be subject to theft, accidents or natural disasters; in the long term it will begin to depreciate as a result of inflation.
Always with liquidity
Not losing liquidity means that money must be available when you need it.