Daffodil International University
Faculty of Engineering => EEE => Topic started by: Ahmed Anas Chowdhury on April 22, 2017, 03:09:42 PM
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Once you know what your insurance actually covers and how much you need to put away for an emergency, the next question is where to put it. "Money that you put aside for a health emergency needs to be liquid and secure," says Porco. "That means you need to be able to get it when you need it.”
And your money needs to remain liquid. “Those who fail to set up an emergency fund may find themselves running up credit card debts to cover their expenses. The last thing you need is to be paying interest on your emergency," warns Porco.
Examples of places to put your emergency fund include an interest-bearing checking or savings account, money market fund, or bond fund. Don't tie your money up in anything that would penalize you for early withdrawals or any investment or account that has the potential for loss.