Question

In which situation would it be most appropriate to use money you have set aside in your emergency fund?

Answer 1

The money that has been set aside for emergency situations can be ideally used for paying the phone bill at first.

Option C is the correct answer.

What is an emergency fund?

An emergency fund is an amount that is kept by an individual out of their earned income which is further to be used in uncertain times.

An emergency fund has been created to meet the contingencies in life that can be in the form of repairs of any equipment, medical problems, loss of job, etc. This fund helps the individual in uncertain times when he/she is in need of funds.

Therefore, the phone bill should be paid first from the emergency fund then the rest of the expenses to be considered.

Learn more about the emergency fund in the related link:

brainly.com/question/14826786

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