What is a digital certificate and what is it used for?

How many times a family economics has been seen in a predicament for an unforeseen event? An expenditure with which did not tell can do that your budget wobbles if you do not have a emergency fund, a cash reserve with which tell when dealing with any unexpected situation.

This “piggy bank” allows covering those punctual expenses that they escape to your control, as a breakdown in the car, the purchase of a new refrigerator or a snap dismissal.

Specify the accurate amount of an emergency fund is something very personal and it will depend to a great extent of your employment situation and relative. That is why, the fund he owes conform to your budget, to your income figures and expenses.

How create and manage your emergency fund?

• Mark you an objective

In the first place, calculates how much money need. Addition your monthly expenses, fixed and variables (including prorated annual expenses), and multiplies that figure for 3 to calculate the minimum amount. As a general rule, an emergency fund is equivalent to the family expenses between 3 and 6 months, although you must adapt the figure to your particular situation: it is not the same thing only live that have a family with babies, a grandfather at home or a son studying was.

Take into account all the expenses not to stay short and addition three months more for every person without incomes. Thus, the family would be able to assume, if necessary, the expenses of mortgage or rent, food, energy supplies, clothes, or professional associations during that period.

The emergency fund owes arrive, at the most, to the one equivalent to two years of expenses. Is unnecessary to reserve more money and you would be able to make profitable it another way.

• Chooses the method of saving

The best way of nourishing your emergency fund is allocate all the months the same percentage of your incomes. You can start contributing 10% of your wage and revise the amount according to evolves your familiar or work situation: a pay rise, the arrival of a son, a change in the fee of rent, etc.

If is possible, inaugurates the fund with the money that you have available. This initial mattress you will cheer up to follow saving. You can mark you as objective a round figure, for example 1,000 euros, and maintain the motivation with new challenges: arrive at 2,000, 3,000 or 4,000 euros, gradually.

• Maintain the money to except for of whims

Your emergency fund should be in a fast gateway site and single but that is not to your immediate extent and that it allows you obtain some return, as an account of saving specific for this.

It is not advisable to have the fund in your usual account, since you would be able to see you tempted to use it: It is neither appropriate to have it in a fixed term deposit, since you would have a penalty if need take out it before the time negotiated.

It more significant is maintain the money to except for of unnecessary expenses and whims that are moved away of the real meaning of the emergency fund.

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