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Victory01

Emergency fund

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Good afternoon. I was wondering when you started your emergency fund. In what type of an account did you put it. As savings account do the girls E great interest so was thinking a notice type account would probably be better but there are quite a few to choose from. Has anybody done a fair share of research in finding which one would be best suited for this. 

Edited by Victory01

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We actually wrote an article about this a few months ago.

 

https://platinumwealth.co.za/insights/finance/building-an-emergency-fund/

 

One thing I would add is to look at Tymebank (we have them online if you have questions @TymeBank Team) If you use them as an emergency fund you will be earning more interest than any other bank in South Africa. With that said, personally, I do a 32-day notice account + credit card (if the funds need to be accessed right now) and then can be paid back from the notice account.

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