The amount put aside as an emergency fund should be equal to 1 to 3 months of living expenses.

Name: The amount put aside as an emergency fund should be equal to 1 to 3 months of living expenses.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

The recommended amount for an emergency fund is typically 3 to 6 months of living expenses, not 1 to 3 months. This provides a more substantial financial cushion in case of unexpected events such as job loss or medical emergencies.

The Amount Put Aside as an Emergency Fund Should Be