Emergency Fund

Which of the following are reasons to use your emergency fund?

Check all that apply.

• Car broke down

• Girlfriend's birthday

• Dog is sick

• Great shoes on sale

• Friends are going on a trip and invited you at last minute

Karen has $3250 in necessary expenses each month. How much should she have in her emergency fund according to the rule discussed in class?

• about $25,000

• about $1000

• $6500-$13,000

• $9750-$19,500

Tags

CCSS.6.RP.A.3B

What is an emergency fund?

• A savings account set aside for unexpected situations.

• A way to invest for retirement.

• Something most people don't need, because emergencies are rare.

• An investment account that can grow over time.

An adult should have around____________ in an emergency fund.

• 6 months of income

• $500

• 6 months of expenses

• $12,000

Tags

CCSS.7.RP.A.3

Reorder the steps for how to build an emergency fund.

• Set a monthly savings goal.

• Calculate the total that you want to save.

• Move money into your savings account automatically.

• You can stop when you have enough.

Tags

CCSS.HSA.CED.A.1

A speeding ticket is an item that you would use money from an emergency fund for

• True
• False

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

If Becca spends $800 per month on rent, $200 on utilities, $300 on food, $100 on gas and $200 on weekend entertainment, how much is her total for necessary expenses.

• $1400

• $1600

• $1000

• $1100

Tags

CCSS.4.OA.A.3

When it comes to an emergency fund,

What you save ​ ​ (a)   will save you ​ ​ (b)  

• today
• tomorrow
• at the store
• money

Tags

CCSS.6.EE.A.1

If you need to have an emergency fund with $5000 in it, about how much should you save every month to have this saved in a year? (give the closest answer)

• $200

• $300

• $400

• $500

An emergency fund can keep your financial life from spiraling out of control.

• True

• False

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2