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Anonymous
Where do you park your emergency fund and why? ?
I've managed to save 6 months of my monthly income and currently residing in DBS multipler account (at interest 1.85% only). Is this the best way to park emergency funds? Where do you park your? TIA
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Jay Liu
15 Sep 2018
Accounting and Finance at ACCA
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HC Tang
15 Sep 2018
Financial Enthusiast, Budgeting at The Society
Usually emergency is for : Medical expenses in case if accident or any other Unplanned situations happens that requires $. So funds needs to be available within 24 hours or some cases within then month.
Therefore , high interest bank account such as :
DBS multiplier for salaried employee or
CIMB for self employed
Or in SSB for within a month selling encashment
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Jeff Yeo
15 Sep 2018
amateur Social contributor at School of social sharing
Emergency funds in my view should be accessible within 24 hours. Putting it in a high interest accou...
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Yeap. Its able to withdraw anytime you want. Say if you've incurred hospital bills and there's excess will you want to wait for a month to be able to withdraw and pay?