How to avoid financial trouble? Maintain an emergency fund always

If there are more dependants, it is important to have a significantly large amount

Vikas Singh, 28, had a cushy job with an airline and earned a good pay packet. Things were going rather well for him for over two years until the airline ran into rough weather. Facing financial troubles, the airline began curtailing operations, leading to layoffs. And Singh was one of the unfortunate ones handed over the pink slip by the management. 

A happy-go-lucky person, Singh had never saved for the future. Within days of being retrenched, Singh was struggling to pay his expenses as his bank balance was drying up. Singh is not alone. There are many similar cases. For