If your monthly expenses total $2,000, you should save at least _______ in an emergency fund before focusing on your investment

Question

allsm [11]

3 years ago

13

If your monthly expenses total $2,000, you should save at least _______ in an emergency fund before focusing on your investment

program.

Business

1 answer:

alisha [4.7K] · Answer 1 · 2022-05-07T14:22:33+03:00

An emergency fund is an account that is used to set aside funds that will be needed in the event of a personal financial dilemma. The size of one emergency fund depends on one's income, dependants and lifestyle. It is recommended that one put aside at least three months worth of expenses.In the question given above, the monthly expenses is $2000.00, so the person has to put away at least $2000 * 3 months, which is equal to $6000.00.