Many times emergency funds are form of cash that are very liquid but they may well not be earning any interest or gaining value, so there could be some sense that those funds are neither working for you and that they might be losing value as fast as you can build them up, so in that sense, you might have quite a bit of hesitancy in holding very much value in cash and/or cash equivalents,
I was considering a possibility where we can store our emergency funds in other asset that could retain the value we put in it, since generally cash suffers from inflation and you know there are possibilities that our emergency funds would not be used in very long period of time and could sit around for up to 6 months without been used to do anything especially if we follow a strict rule to only touch it when we have a real emergency, but the flaw to this plan IMO would be that we expect our emergency fund to be in some way very readily available when we want to use or when we encounter an emergency cause this could potentially be a huge problem for us if our emergency fund is not around when we want it. And secondly I think there are very few asset that we can consider to be very stable to hold value in such short term and how easily it woudl be for us to convert back to fait if we need it, this is just an idea so I would like to hear your opinion on it or if it should be written off entirely?