Having a 3-month emergency fund means setting aside enough money to cover your essential expenses for three months without any income. It acts as a safety net during unexpected events like losing a job, facing medical emergencies, or other financial crises.

Before setting up your DMAT account and making investments, take the time to pay off high-interest debts, build an emergency fund, and choose a cost-effective index fund. These steps will provide a solid foundation for your investment journey and help you grow your wealth more effectively in the long run. Always remember to do your research and seek advice from a financial advisor if needed to make informed investment decisions.