How do I build a strong financial safety net?
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I've been working for about a year now and don't have much of a financial safety net yet. I’m currently investing ₹45,000 a month in mutual funds and gold, and I’ve already sorted out my insurance. Does this plan seem realistic for the long haul, or should I adjust things since I’m just starting out?
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Your plan is great—it’s smart to have mutual funds, gold, and insurance sorted early on. However, since you’re just starting your career, try building an emergency fund first. Aim for 3–6 months of expenses in a liquid account before locking everything into long-term picks. You can temporarily allocate some savings to that account until you achieve a sense of security. Once that safety net is ready, you can invest even more confidently for the long haul.