What is an emergency fund and how do you start one?
Emergency fund is the amount of money you have at your disposal whenever an emergency occurs. An emergency can be anything, ranging from a broken kitchen pipe, a medical expense, car repair, a retrenchment, etc. In this world of uncertainties, especially in the year 2009, many things can happen. That is why one should always [...]
To keep money in savings account or to invest in mutual fund
The other day, a friend of mine talked to me about investment. He told me it is wiser to invest his money in mutual fund than to put it in savings account because it gets higher return in the former. I told him there are pros and cons to each, just like there are pros [...]