3.1 Why Save?

What are some potential savings goals you would like to meet? These goals can vary from small (saving for a new pair of sunglasses) to big (saving for college). Write at least three goals in each category.

a) Short-term goals (less than 2 months)

b)Medium-Term Goals (2 months - 3 years)

c)Long-Term Goals (greater than 3 years)

ANSWER ALL 3 CATEGORIES!!

According to the video, how much should you aim to have saved in an emergency fund?

What is one tip for growing your emergency fund?

What types of things did people say they were saving for in the video?

Think back on the goals you wrote at the beginning of the lesson. What is one goal you can start saving for now?

What do you think are obstacles that might stop people from building an emergency fund?

Maryam’s average monthly expenses are $3,750. She wants to have an emergency fund that covers 3 months of expenses ($11,250). If she’s starting with $300 in her account and saves $456.25 a month, how many months will it take to reach her goal?