Emergency Fund

How much should you save in your emergency fund savings, according to most financial experts?

• 20% of income

• at least three months of essential expenses

• $1,000

To start building an emergency fund, which type of expenses should you start adding up first?

• wants

• living expenses

• unplanned expenses

The emergency fund's purpose is to help offset unplanned expenses.

Which of these is an example of an unplanned expense?

• medical bills

• daycare expenses

• rent

When saving money, it is important to pay attention to both planned, and unplanned expenses.

Which of these is a planned expense?

• car breakdown

• emergency vet visit

• electric bill

You are building your emergency fund and are writing down your monthly expenses:

Your goal is to have six months of expenses in your emergency fund.

How much money should you have in your emergency fund to meet your goal?

Mathematical Equivalence

ON

You are building your emergency fund and are writing down your monthly expenses:

Your goal is to have three months of expenses in your emergency fund.

How much money should you have in your emergency fund to meet your goal?

Mathematical Equivalence

ON

You are building your emergency fund and are writing down your monthly expenses:

Your goal is to have three months of expenses in your emergency fund.

How much money should you have in your emergency fund to meet your goal?

Mathematical Equivalence

ON

You are building your emergency fund and are writing down your monthly expenses:

Your goal is to have six months of expenses in your emergency fund.

How much money should you have in your emergency fund to meet your goal?

Mathematical Equivalence

ON

Sofia is working on her emergency fund. She is writing down all her monthly living expenses and adding them together.

However, Sofia has made a mistake and listed an expense that should not be listed.

Which expense should not be considered when making an emergency fund?

• car payment

• groceries

• dining out

Ricky is working on his emergency fund. He is writing down all his monthly living expenses and is totaling them up.

However, Ricky has made a mistake and listed an expense that should not be listed.

Which expense should not be considered when making an emergency fund?

• groceries

• entertainment

• utilities