Balance:

Balance, or what we mean by security amount, is a sum of money that a person keeps to deal with emergencies or unforeseen situations, such as job loss, illness, or property damage. Financial management experts advise that the security amount should be between three to six months of the person's fixed monthly expenses, such as rent, bills, loans, and basic expenses. The person can keep the security amount in an easily accessible bank account or in a secure and liquid investment tool, such as fixed deposits or money market funds. The security amount helps the person avoid borrowing or depleting their savings or investments in times of need, giving them peace of mind and confidence in facing financial challenges. It also contributes to achieving financial security for the person and their family in the long run.