How to create a reserve fund: step by step instructions and example calculation

In my practice, I often come across the fact that there is no accumulation in humans. Living from paycheck to paycheck. In the event of unforeseen circumstances - job loss, car breakdown, failure of household appliances, the disease - they do not know what to do, where to get money.

There are several solutions to the problem: to borrow from friends, take a loan from a bank or microfinance organization at high interest rates or use the reserve fund.

Reserve fund - a financial safety cushion, grist, which is always at hand.

Consider his creation on the example of a family with the following input data:

• monthly income - 80 000 rubles;
• monthly expenses - 60 000 rubles;
• annual rental costs - 120 000 rubles (10 000 rubles per month);
• Free Margin per month - 10 thousand rubles.

1. We expect the Reserve Fund

The size of the reserve fund - this is the amount by which the family can live three months (during the crisis - six months), without changing the usual way.

Average monthly household expenditure in this example is 70 000 rubles (the current 60 000 + 10 000 Vacation). Therefore, the reserve fund will be calculated as follows:

• 70 000 × 3 = 210 000 (rub.) - for three months;
• 70 000 × 6 = 420 000 (rub.) - for six months.

2. Determine the size of monthly payments

Typically, payments are 10% of the income, but may be as high as 15-20%. In our example - 8000 rubles per month.

3. Choosing a Bank

Criterias of choice:

• Among the top 20 banks in terms of net assets.
• Member of the deposit insurance system.
• It works in the market more than 10 years.

4. Choosing contribution

Basic requirements for the deposit:

• The minimum amount for opening - 1 000 rubles.
• A chance to recharge.
• Possibility of partial removal.
• Monthly interest.
• Capitalization.

5. Open input and make the monthly fees

An alternative could be the contribution of revenues card, provided that it is not the main payment card.

Revenues card - a bank card, on which the accrual of interest on the balance on the account. The rest of it is no different from the usual. The interest rate on the card varies from 5 to 7.5%, is comparable to the rate of deposit. In contrast, the contribution use the funds on the card at any time.

Forming a reserve fund in the currency of the basic income - RUR. On request we add other currencies - the dollar and the euro.

In our example, after two years of regular payments on the account will be 210,000 rubles. This is a necessary minimum.

We continue to make contributions on until you accumulate 420,000 rubles.

Broken fridge, TV - comes to the aid of the reserve fund. They lost their jobs - you will have the means to life, until you find a new place. Fund money can be used as a nest egg, when buying clothes on sale, travel tour, railway or air tickets, and more.

Having spent part of the money from the reserve fund, it is necessary to replenish it in the future to achieve the desired amount.

Reserve fund - this is only the first step to financial independence and the creation of capital. He will not solve all your problems, but some financial protection you get.