Tomorrow Makers Guide to Building Your Emergency Fund

With the pandemic bringing the entire nation to a halt, the economy has suffered significantly, and many households have been affected. As of 17 May 2020, the unemployment rate in India has risen by a significant 24%.   It’s not only jobs; businesses too have struggled with sales since the lockdown was first imposed in March. The fourth quarter of the fiscal year showed a declining growth of 3.1%. . The market has seen a downturn, and returns from investments have recorded a drastic drop. And despite depleting sources of income, expenses have remained the same. In fact, many areas have seen a hike in the price of basic essentials such as rice, pulses, sugar, vegetables, personal hygiene products, etc.   American author and businessman Dave Ramsey once said “Earning a l...