Building an Emergency Fund | Ankur Warikoo Hindi Video | Financial Planning for Beginners
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- čas přidán 10. 09. 2021
- What is an emergency fund?
How big should it be?
Where should you keep it?
Get insurance advice from Ditto: bit.ly/3xFh7OU
All your questions about emergency funds, answered in this video!
All things good, I am still not going to recommend you to put your emergency fund in a Fixed Deposit :)
As we understand emergency funds, we will also understand how it should cover these two criteria:
a. It is 100% liquid
B. Never subject to any risk AT ALL.
I’m sure this will help you in building your own.
Any questions, do let me know in the comments :)
Get the notes to this video at bit.ly/3z4bhnB
Click here to subscribe to my CZcams channel: shorturl.at/bizNX
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Ankur Warikoo is an entrepreneur, an angel investor, a mentor and an active public speaker.
For the past 4 years, Warikoo has been actively sharing content on CZcams, LinkedIn, Instagram, Facebook and Twitter amassing a following of 3 Million+ people.
He posts 3 Hindi and English videos every week on his CZcams channel, where he talks about entrepreneurship, how to grow in life, personal finance and failure.
Warikoo started his entrepreneurial journey in 2008. His most recent startup is nearbuy.com where he was the founder and CEO from 2015 until 2019.
Prior to that, Ankur started Groupon’s India business in 2011 and acted as the Country CEO from 2011-15, and Head of Groupon APAC from 2013-15.
An alumnus of the Indian School of Business, Ankur is an active Angel investor and mentor to several startups.
Ankur has been part of Fortune Magazine’s 40 under 40 List for India, LinkedIn India’s PowerProfiles List, LinkedIn India’s Spotlight List and India’s Top Executives under 40 list.
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Get insurance advice from Ditto: bit.ly/3xFh7OU
1. Buy health insurance bit.ly/3dgKQmH
2. Buy life insurance bit.ly/3wJiY20
3. List of liquid mutual funds - bit.ly/3A40on7
4. Get the notes to this video at bit.ly/3z4bhnB
Hey ankoor, how do you track your money (spending, investing, balance) etc?
when do watch movies?
where do you incest your mutual funds for?
Q1à!!¹+
Q1
That FD part acting was just too hilarious. Someone please make a reel out of it
True😀
correct😂
What If ankur sir's son does a FD .
What will be the punishment 🤔
whats wrong with FD part?
does he not recomment to have an FD account
True, fantastic expression.
Hey man, seriously I love the way you react whenever the word FD comes while you were speaking...that reation is so funny you really nail it everytime ..🤣🤣🤣
What If ankur sir's son does a FD .
What will be the punishment 🤔
Dil se nikalti hai, nafrat
@@warikoo
It may sound a childish kind off .. but want to understand.. liquid mutual fund bhi...in the end mutual fund hi hai.. so kya yeh save hai as compared to FD...
@@vibrantmove8116 Yes bro, slightly better then FD. Isme exit load (nominal charges) nahi hota hai jo ki FD todne me hota hai. Most important point, ye jldi bank me aa jaata hai. Video k last 5 min me ye bataya. :)
@@iakashx thanks Akash..sorry to say.. aapne mera question samjha hi nahi.. bank mein jadli aa jate hain Liquid MF, exist load same hai.. return's Liquid MF mein on an average 5.0 se 5.75 hain, FD mein bhi approx 5.15 hain... Ab iss case mein SAFE hai yaa risky hai..
I love the way @warikoo explain and follow him at many times.. but yeah question ka reply agar woh karenge to better hai man... I wish he provides paid advice I m ready for that too..😊
DIL SE THANK YOU
SIR MENE ALREADY EMERGENCY FUND RAKHA HUA THA PAR WO SAVING ACCOUNT ME JUNG KHA RAHA THA
BUT AAPNE EMERGENCY FUND KO JITNE SATIK TARIKE SE VISHLESHN KAR KE SAMJHAYA HAI US SE MERE GYAN ME AUR BHI VRUDHI HUI HAI
ANKUR SIR AAPKA DIL SE SHUKRIYA
AAP AISE HI GYAN BHARE VIDEO BANATE RAHO AUR HAMARE GYAN ME VRUDDHI KARTE RAHO
Summary:
1. Emergency fund should be equal to 6-12 times your monthly unavoidable necessary expenses such as rent, food, utilities, EMI, etc.
2. Before this, make sure you have life and health insurance. In order to make this, if required, pause all your investments and avoidable desirous expenses until you have a sufficient emergency fund.
3. Keep it 10% in cash (or Debit Card), 20% in a separate bank account opened specifically for this purpose and 70% in Liquid Mutual Funds as they have no exit fees and money gets transferred within 24 hours to your bank account. Best part, it is almost risk-free and has a return of 5-7%
Nice Summary, Good one
4. Fuck FD
Good
thankyou brother
Early retirement is a dream.. I got to understand that I have to be at the end of my life to enjoy time freedom, let's work hard to financial independence.
I'm 48 years old with no retirement plan yet. Any idea on making half a million dollar within 12 - 18 months? I have currently saved the capital of $10k.
@@morriselizabeth1484 Such gains are very achievable, you just need to commit to it and do your R&A.
@@morriselizabeth1484 A very good way to acquire your goal is to get a consultant, that you can copy their investment strategy and avoid making a mistake.
@@patriciaallaband3493 that sounds good and straight forward, have you use the service of such consultant before?
@@georgeflorence2671 I still use my broker Mrs Cynthia Ellen I found her through a newsletter sometime in August the last year and she has saw me through my portfolio for a year now.
So grateful to have been born in this age where you can get mentored by such greats effectively for no fees/cost. Your courses are so good. The videos and the explanation is top notch. Keep going like this and keep educating the coming generations!
Great bhai
Where can i download the excel sheet though
Yep
That pause tribute to FD in middle of the video was so so soooo amazing 😂😂👏👏 I literally played it 4 to 5 times & had a hard laughter. Also that "Ankur 50,000 rupaye hai, phone lete hai na" 😂 Those tiny little jokes in between give our mind a tiny little refresh.
Few things I would like to highlight: There are lot of Fd's now a days which gives insta redemption facility and you will get money in a minute or 2 so I think that is better than liquid funds.
As you mentioned that 10℅ should be in cash and then later on you said that if you have debit card then it would be okay so you are indirectly saying: 30% in banks and 70% in liquid.
Few liquid funds are also giving insta redemption facility now a days.
Thank you Mr. Warikoo, I loved your videos on personal finance.
I love how he wholeheartedly hates FDs and genuinely loves Excel.
First love and true hate :)
@@warikoo Sir please let us know how to learn Excel as good as you.
q
What about income tax on liquid fund??
@@warikoo what about income tax on liquid fund?
Ankur: Don't do FD
RBI: kya takleef hai in sajjan ko?!
😂
😂
Inflation janab
What If ankur sir's son does a FD .
What will be the punishment 🤔
@@viratforever21Learn Full excel course
Bhi ye bande sach me knowledgeable hai the way he trying to understand ki bache ko bhi samaj m ajayga respect 🙏🙏
One of the greatest learning. Never ever saw a video on youtube that talks about an emergency funds.
I just laughed for 20min .. when u started fd maturity amount 🤣🤣🤣
Joking
The stock market has been a really tough one this past months, but I watched an interview on CNBC where the anchor ‘Jim Cramer’ kept mentioning "...KARINA MATTIS...". This prompted me to get in touch with her, and from October 2021 till now we have been working together, and I can now boast of $540k in my trading portfolio.
Good one, working with her also helped accumulate up to 350k in my trading portfolio.
I am a beginner and I am hoping to start with $93,000. I hope this is not too small to start with because my dream is to attain my financial goals within a short period of time.
Sure you can start with that amount and even less. With a proper financial guidance, you can build a small amount to a larger sum.
Seeing the name Karina Mattis made me stop to read your comment. I can attest to the fact that getting in touch with Ms. Karina during the pandemic was how I was able to scale through the crazy stock downtrend and this helped saved my finance
I just looked up this person KARINA MATTIS out of curiosity, and surprisingly she seems proficient. I thought this was just some overrated BS, I appreciate this.
You are doing a great work, keep that energy up.
Do put stress on maintaining this fund always. People usually create such fund and after using in emergency, forgot to recreate this as daily expenses are at another level and as you said one needs to pause investment to create this fund, in later stage people found it hard.
Hence, maintaining is equally vital as creating.
one thing I love about myself after watching this video is that I hated the stock market for 2 years since starting my job & was doing FD & RD but, I made my emergency fund well ahead of time without knowing the importance of it.
Rest Assured NO FDs & RDs since April 2021 i.e After becoming financial literate.
Really love the way you explain these concepts, I wish I started watching these videos earlier. I had been thinking since a long time about emergency funds, budgeting, and other personal finance topics but didn't get a good resource anywhere as people don't talk about it very openly and it is something that the curriculum lacks as well. I am glad you are sharing so many learnings with us, this is definitely helping me a lot :)
watched this vid 2 yrs back , but didn't felt the need back then. watching it today again , felt like i would have started 2 yrs back. but better late than never.
Sir... literally I always intended to make my emergency fund but somehow I was not able to find out the way..which will help me to build..but after watching this video...I am sure it will going to help me to build my emergency fund...thank you so much🙏
Ankur Sir, you are the university of all the vital knowledge that our generation requires 🙏🙏 our generation is lucky to have a mentor like you! ❤️❤️
Hi Ankur, the reason I keep coming back to your channel is that it really makes me feel you genuinely want us to never make any financial mistakes in life. And the conviction with which you speak to us, it's really amazing. Thank you for all of this!
I saw your video 2 years back n I am happy to share that I could create the emergency fund. Thank you so much Ankur🌻…more Power to you.
Just became debt free and now is time for me to save an Emergency Fund!! 😆 This video was super helpful! I think a YT warikoo binge watch is in my near future 😃
Sir I'm thanking you almost everyday. You change the life of many people in a good way. What you are doing to the society is priceless!!!!
Thanks for making this video, for 3 months I'm trying to only build EF but ended up using little for daily needs mistakenly
@warikoo i have done FD for my emergency fund. Most banks provide a sweep-in facility which is similar like a FD, where we will get the returns of FD and can withdraw money anytime we want.
I couldn't agree more with the importance of building an emergency fund. Life is full of unexpected events, and having that financial cushion can provide peace of mind during challenging times. Start small and gradually increase your emergency fund until you reach your target.
Thank you so much... I was planning for emergency fund but I am not able to understand how to do... but from your help now I totally understand what I have to do.
Kya sahi timing hai.
Just now finished reading the module "A fund in need is a fund indeed" from the book mint your money by pranjal kamra and here is your video on the same.
When I watch you video my mind gets Relax Your voice is peaceful and Relaxing 😌😌🤩
Expect he's legit and his method works
like magicI keep on earning every single
week with his new strategy
Wow I' mjust shock someone mentioned
expert Mr Albert Renshu I thought I'm the only one
trading with him
Thanks for introducing me to Mr Albert Renshu
My first investment with Mr Albert Renshu gave me
profit of over $24,000 Us dollars and ever
since then he has never failed to deliver
and I can even say he's the most sincere
broker I have known
Mr Albert Renshu he's obviously the best, I invested
$3,000 and he made profit of $28,000 from my trade
Mr Albert Renshu he's obviously the best, I invested
$3,000 and he made profit of $28,000 from my trade
I had lots of doubt in creating a emergency fund. But everything seems sorted now. Thanks Ankur.
What a good time in my life for this video to come out 💝 Just got an insurance today and was wondering how to build an emergency fund
You have great acting skills man! I loveeddddd the FD maturity part.
On a serious note, I just started with my stock n crypto journey n was in a dilemma whether to continue with it first or simultaneously juggle between building my personal fund and stock investments. Thanks for clearing the air sir!
अंकुर जी ये मेरे द्वारा इमरजेंसी फंड्स पर देखे गए वीडियोज़ में सर्वोच्च है!
जिस प्रकार आपने सबकुछ समझाया है
अप्रतिम!!
बहुत-2 धन्यवाद🙏💕 व आभार!
This technique is useful same is followed by my wife. As 10th of every month I transferred fix amount to my wife's account and it was used at time of critical surgery at time of pregnancy and which was done in COVID situation with +ve report and delivery was C-section so you can imagine how expensive it was.
Situation was horrible but we survived. 🙏
Would like to start with a word of thanks for all that you do for the youth of this country. Fan of your and hats off! :)
One suggestion regarding the cash component which you said can be replaced with an ATM/Debit Card - please don't do that and let it be cash only; for two reasons:
a) you never know in a situation of emergency, whether or not you will be able to access an ATM near you
b) you never know when the banking system goes down and the ATM near you doesn't help you
My say is when we are creating a fund for the sake of emergency, let's not be dependent on factors which are not under your control; else that may defeat the "very" purpose of creating the emergency fund. Something that I follow personally and thought of sharing it across. Thanks. :)
You wont believe I just turned on my PC to invest my emergency fund into liquid fund and suddenly got this video notification. Although i was knowing about the emergency fund from your previous videos i was going to put in 90% of my fund in liquid fund, but now i have the 10:20:70 rule.
Thanks for the video❤️
I was keeping all my emergency fund in my bank account. Will check Liquid Mutual Funds. Thanks Ankur
Thank you for sharing your knowledge.. my friend keep telling me to make emergency fund and when I ask where? She said to watch and learn from CZcams.. here I am. 🙏
I always keep my pen (fountain pen) and notebook with me when I watch your videos! Thanks :)
Hearty Thank you Sir for video... I tried liquid funds but their returns are very less than FD almost like saving account 3.3 since last few years...there are options of Multi Option Deposit where you can encash money through ATM whenever needed and whatever amount remains continues to earn FD interest 5%.
Thanks sir ji, every one tells to make a emergency fund but you have explained about how to manage emergency fund that's great
I saw ur vedio first time.and i love it .past 6 month i was worried about my saving but now i can start it from monday for sure thanks with love
Unless it’s a current account I’ll put those money in FD instead of liquid fund
Because liquid funds are subject to market risk even if it’s 0.00001 or just park in bank account because earning return is not important for emergency funds but safety is a top most priority, that’s what I believe though everyone can have different opinion.
Great video by the way 👍
Extra tip : Even for banks I’ll go with HDFC bank or SBI and avoid all those new and small banks.
Yes.. for mental peace and security FD is best option..SBI Is best for big amount fds
And Idbi Canera or any other bank for small amounts
GOOD VIDEO; EVERYONE NEEDS MORE THAN THEIR BASIC SALARY TO BE FINANCIALLY SECURED, THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST, MONEY LEFT IN SAVINGS ALWAYS END UP USED WITH NO RETURNS.
I think the pandemic has taught people the importance of multiple stream of income, unfortunately having a job doesn't mean financial freedom or security.
With the consistent weekly profits I'm getting investing with Mrs Patricia Turner there's no doubt, she is the most reliable in the market.
O' Yes I'm a living testimony of Mrs Patricia Turner..
My first investment with her gave me profit of over $64,000 US dollar.
Same here it's four months now I started trading with her too and it's been a good experience,,
This one is absolutely useful for me and for my family specially my son whom I am going to share it with..Although I have opened up a separate bank account under my name 4 yrs bk as an emergence or saving some money for me and if needed for my family..In this video I have learnt about the Liquid Mutual Funds though I have lots of other investments too
My 25y/o son introduced your channel to me and now I am gonna share this video with him to make him understand why emergency fund is important in one's life specially the youngsters..
So a Big Thanks to you for uploading this kind of topic
This young india needs financial educators like you sir,
Yet another useful concept being explained in such a lovely simple to understand manner. Thanks a ton Ankur. That FD part was hilarious 🤣
Your reaction to FD was lit 😁.
Btw, I have paused a portion of my investments in stock market looking at the Bull run. I'm actually building emergency fund now because that's zero. This video was damn helpful.
Thank you so much 😊
Awesome
@@warikoo sir recently you did a video on all weather investment. Can I consider all weather investing instead of liquid mutual fund to park my emergency fund
You dont find a better love story than Ankur with Excel sheets. I love your videos and enthusiasm to share the knowledge. Thanks for sharing the top notch stuff.
Excellent video for all youngsters. Thank you so very much for putting this together in simple terms !
Pls make video on "When to enter and exit in any stocks" 🙏🙂
"Alpha & Beta" concept was really insightful!!!
This was one the most fun filled video ever of Ankur 😂😂😂
I always had this question of what to do with emergency fund once you save it up, this video is just the one I need. Thank you!
You are the best thing ever happened to us sir keep guiding to our generation sir.......though i had saw and read bloggs n books on emergency n personal finance sir ....but u gave us proper clarity to us thank you sir im really grateful for this...n got to also learn the effective use of Excel sheet.
PLESEEEEE MAKE A COMPLETE COURSE ON EXCEL ALREADY???...ik there are a lot of great courses already available and frankly I even have enough experience with excel😂😂 But MAN ,your enthu for this is so much that I would love to do it all over again ...
I have a different thought on pausing investments to build emergency fund. I personally invested my emergency fund in MFs via SIP and they are giving good returns then banks/FDs. Debatable but that's my personal experience.
The way u speak creates a sense of interest in listening to whichever topic ur video is abt... I often find all these finance & money management stuff boring while reading about these even though I know these r useful... Thnx a lot for all ur valuable & guiding contents... u r adding value to the lives of many like me... always love watching ur videos... Gracias! ❤️👌🏻☺️👍🏻
Thanks alot...at age of 40+ I m learning so much from ur videos...Big thanks...
The reactions Ankur gives for FDs are priceless 😂
You’re seriously amazing Ankur. God bless you. Thank you for this! Timely instructions during a global crisis, that would at least serve as a wake up call for how people should be thinking of their money going forward if they haven’t so already.
Sir i have retirement corpus 50lac...where should i invest..or park it....i expect monthly income 30 to 40k
You made me Financially Strong. I learnt a lot from your video about how to invest, how to save, understood how to stop wasting money on things I don't want and focused more on what I actually need.
This channel isn't just a channel sir. It's a life for all of us❤️❤️
This is, by far, the most important lesson on investment and money management. I wish we were taught all these in school. Thanks a lot Ankur.
Hey Ankur! Can you make a video on Real estate buying?
I have heard in one of your previous videos that it is not a recommended option being young.
I'm 28 years old and I would appreciate if you could let us know the drawbacks of buying Real estate at this age.
Thank you :)
Thank you so much Ankur Sir :) I am 34 and do not have any emergency fund. However, from now on wards I will start following your inputs and build an emergency fund. Pakka Promise...
Yes it is really useful for me. I don't know anything about investment but wanted to keep an emergency fund. Sir you don't know how much this video is helpful.
This question was in my mind since long. Finally got the answer thank u
Thank you for your comment.👆Contact the Whatsapp Line above for more info and advice, I've something new to
I just love that the fact that you always finds a way to ridicule FD investment in almost all of your videos😂😂
Thank you so much for putting together all things about EF in so plain yet so convincing a manner!
I've been following all the videos in this channel and this is the best video for me. Very helpful, I have already watched several times to have a better understanding everytime. Thank you for this amazing content.
Ankur, this video came out on a point when I was looking for options to invest the amount that I got in form of my first salary. But now you made me aware to first take health insurance then the Emergency fund must be set aside and afterward investing should be started.
@Warikòo 🖤十 fake
That dramatic pause/response for FD was lit 😂🔥💯
Excellent! You make things so simple to understand that a total novice may also learn something from you.
Amazing Video Ankur. Thank You for sharing such an insight and it is very thoughtful information for all of us.
I do it slightly different hope I can share and if it suits anyone please try it.
1. Cash (10%)
2. Instead of FD and Liquid fund we have an option of savings linked deposit. In SBI they call it as MOD( Multi Option Deposit). We get 5% and 5.5% for senior citizens. This is best place to park emergency fund. We can anytime widthdraw it thru atm or account transfer. We can do partial widthdraw as well remaining amount will be continued in deposit.
So I am parking 90% here.
3. Credit cards ( 100% emergency limits.
4. We can also explore options like cred mint for 20% if we look for more intrest. Based in risk appetite.
Dear warikoo, I feel that it's better to put the money in the bank as compared to the liquid funds. Because in the past few years, bank interest rates have always been better than liquid funds. For example this year all the liquid funds have given return slightly over 3%.
True , better to go with FD than LMF
it's like getting a finance course also for free :) and waiting for giveaway announcements of Under 1000 purchases.
You make financial management simple and enjoyable!
Thank you ankur I didn't had an emergency fund yet. I will start allocating my money to it ASAP.
Very nicely explained Mr. Ankur. Thanks a lot!!@
Thanks for this enlightening video, Ankur.
I wanted to know, how to increase the emergency fund with respect to time.
In case, I have the emergency fund 12x available today with my present needs. but my needs can be more in future, say 10 years.
So, how should I update my emergency fund gradually along with my needs?
the way u said fd karwayi hogi mere bolne ke baad and the way u said khuda na khasta and the way you said many more things was just do amazing
How good it is that you always do talk about FD's in all video and us waqt stress ka mahol ho jata he. It really feels so connected. ki next video dekhungi to i have in ming FD aega hi aega and you will get sad. You are doing perfect job with all your videos. It is very helpfull.
Hello Ankur, I used FD as an emergency fund last time (yes, I have paid 1% penalty on the interest) which returned me 4.2% interest return (after the penalty) and that paid back to me within a minute.. not even 24 hours. That is what I treat as emergency fund where I get my money within a minute using the bank app and no need of bank credit card for my case. So, I keep a lump-sum amount in the FD as an emergency. Like you, I am also not a fan of FD, but I found it is better than liquid mutual fund.
Same ✌
Exactly...👌Even you earn more than Liquid MF... As Liquid MF gives you 5-6% as shown if you invest in horizon of 5 years or more... Where FD gives you guaranteed 5% return in a year... And if require to break FD then penalty is on interest not on Principal... It just reduces your percentage of return... Which still remains more than Liquid MF return at period of anywhere between 1-3 years... Not a fan of FD... But, For Emergency funds its best option...
@@tasipranav I agree & I don't understand why youtuber missed this to specify in general.
Sar agar 4,5, lakh rupees apne pas pade he . Usko kaha envest karna sahi rahega 5 sal tak
On watching this I’ve just started to work on it
Around 4 -to- 8X of my Salary
1.5 yrs. -to- 3 yrs.
& 30:70 will be followed with utmost discipline
Ek FD mature hone k liye ruka hu 😜
Thanks for emphasising of its importance
Really liked your style of teaching with excel sheet... Makes learning interactive and easy to picture the outcome 😊 thank you!
This is how a financial education video should be, education with humour so that you don't get bored 👍
My wife literally came running when the FD word came. I was fuming and mimicing Ankur. 😁😁😁
Ankur: don't do FD
Le Banks :- Is ka to game bajana parega re baba
😂😂😂😂
What If ankur sir's son does a FD .
What will be the punishment 🤔
@@viratforever21 Sare stocks bikwa denge. Bolenge ja tu FD hi kar.
Hi Ankur, this video is very good. I have listened to this for 4 to 5 times in loop to understand the topic.
Thank you
@warikoo You are doing a great job by educating the public through your videos and it is so Eye opener for many people like me. Huge respect to you Sir!
This man is seriously against FD 😂😂
*Despite the economic crisis, this is Still a good time to invest in stock and Crypto*
The rich spend less and invest more,
Investing in these economic crisis will be one of the best thing to do,
You're right I think stock and Crypto are the best to invest right now☺️
As stock's are good but crypto is better
I wanted to trade crypto but got confused by the fluctuation in price.,
Thank you Ankur.. you are the best. Whenever I see your videos, I can feel the positive vibes in you.
ThankYou for explaining it in simple words. Go bless you !
Sir, instead of keeping emergency fund in three forms like cash, bank and liquid mutual funds, we can directly do online fd with a feature of getting amount and interest at the maturity...if you choose this feature then you don't have to pay any charges for premature withdrawals at any given point...you can earn 5% intrest on whole amount and in case of an emergency, you can break that whole amount and get it liquidated at any time by debit card or online transfer..when you're making fd don't make the full amount's fd instead divide it according to your need..in this way you can enjoy intrests of these emergency funds plus you can use it in case of an emergency...
Can you please tell which bank is giving that option?
@@iamshubhamkaushikmusic when you're making an online fd, select the option of interest on maturity.. In this case your principal amount is fully protected.. You can open this fd account in any of the bank but preferbly in nationalized banks like SBI and BOI where your each and every penny is protected as these banks are mediums for transferring funds (tax money) between state and central govt...any govt will protect these banks as they are like goldmines for their respective black & white money..
Liquid fund and FD is almost equal, better to have FD for emergency fund cuz u can actually use it instantly in emergency on just a click from your net banking account
Ankur warikoo is the brother / mentor I never had