Money Magazine ( Money logs )

Unprecedented financial emergencies can put a dent in your funds. Having accessible and ready cash supply can benefit you in times of unforeseen expenses such as credit or debit card debt, pawning of valuables and other emergency costs. Several advisors will suggest you to set aside cash for a minimum three or even six months. However, time and amount of cash you have to save are two crucial factors that need to be considered. It always pays to make a conscious decision with regard to items that are worth purchasing and the money that you will be saving.

Ask any financial expert about your options to invest your money if your time horizon is more than 5 years. The chances are high that he will suggest equity MF's as the best option. Now ask him what are the best option if you want to invest for less than 5 years. The chances of him suggesting equity MF's now will be much lower. But this is a common concern for many people. People these days don’t have 5 years to wait. They cannot invest for such a long time. So what are the best options for someone who needs his money back, with decent returns in less than 5 years? The answer to this question will depend on the time that this person can wait. So assuming that the deadline can be anywhere between 3 months and 5 years, let’s explore the available options.