Best place for an emergency fund

[Hamish McPanji]

Under my matress. There is still.space left

 

[InTheWild]

Geez some of you guys...

haha, yeah indeed

 

[Ecco]

I put mine in a Nedbank 32Day Notice + a credit card on standby.

R250 - R999
Nominal p.a4.15%

R1 000 - R19 999
Nominal p.a6.10%

R20 000 - R49 999
Nominal p.a6.60%

R50 000 +
Nominal p.a7.10%

If you have a homeloan to settle and have a flexi bond - interest saved will beat the rates on notice deposits.

 

[InTheWild]

If you have a homeloan to settle and have a flexi bond - interest saved will beat the rates on notice deposits.

no bond...

 

[backstreetboy]

Geez some of you guys...

Can get the cash out within 4-5 days not sure what emergancy you'd have where 5 days is too long.

 

[supersunbird]

Can get the cash out within 4-5 days not sure what emergancy you'd have where 5 days is too long.

The length of time to access it is not the main issue with your suggestion :erm:

 

[backstreetboy]

Then put it in a Money Market but do your due diligence...

 

[Swa]

Can get the cash out within 4-5 days not sure what emergancy you'd have where 5 days is too long.

One where you're laying on a hospital bed dying?

 

[TheMightyQuinn]

One where you're laying on a hospital bed dying?

Basic Hospital Plan covers that....

 

[Hamster]

Can get the cash out within 4-5 days not sure what emergancy you'd have where 5 days is too long.

The issue is not time, the issue is using equities and the fact that you don't know that is concerning. And I'm not trying to be mean when I say this but this is why some people absolutely need a financial advisor.

 

[Hamster]

Can get the cash out within 4-5 days not sure what emergancy you'd have where 5 days is too long.

The issue is not time, the issue is using equities and the fact that you don't know that is concerning. And I'm not trying to be mean when I say this but this is why some people absolutely need a financial advisor.

 

[Slootvreter]

What is an emergency fund

 

[skinndeep]

One where you're laying on a hospital bed dying?

32 day account is worse?

 

[InTheWild]

32 day account is worse?

depends how you structure it. I am planning on only keeping 1 month expenses in Capitec account (or even have a CC on standby), and 5 months in a nedbank 32day.

 

[SauRoNZA]

What is an emergency fund

It's a common theme in good financial behavioral practices.

Usually 6 months of salary but varies depending on whose strategy kept in a reasonably accessible and safe place that you should build up before even looking into other investments etc.

 

[supersunbird]

It's a common theme in good financial behavioral practices.

Usually 6 months of salary but varies depending on whose strategy kept in a reasonably accessible and safe place that you should build up before even looking into other investments etc.

He doesn't have money to save, is his point, I'm sure he wishes he did...

 

[Slootvreter]

He doesn't have money to save, is his point, I'm sure he wishes he did...

Every Friday afternoon 15h00 is an emergency

 

[SauRoNZA]

He doesn't have money to save, is his point, I'm sure he wishes he did...

Aaah sarcasm completely missed.

My bad.

 

[Hamster]

Aaah sarcasm completely missed.

My bad.

I wanted to answer but then I saw who posted it and... yeah

 

[SauRoNZA]

I wanted to answer but then I saw who posted it and... yeah

Don't know why for some reason it seemed legitimately genuine.