Question

How is an emergency fund similar to and different from a savings fund?

Answer 1

Answer:

An emergency fund is a certain amount of money set aside for emergencies, Savings are what you set aside for the future.

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Answer 2

Answer:

An emergency fund similar to and different from a savings fund is discussed below.

Explanation:

• A pad is a miniature scale, normally $101–$1,000, that you keep in your checking statement for the purpose of bypassing overdrafts.
• An emergency fund is a great stability—normally 3–7 months of existence values—that you keep in a savings account in matter of significant circumstances like job loss and a medicinal emergency.