Eric Patterson earns $80,000 a year.His monthly expenses total $4,500.What is the minimum amount of money that he should set aside in an emergency fund?

Name: Eric Patterson earns $80,000 a year.His monthly expenses total $4,500.What is the minimum amount of money that he should set aside in an emergency fund?
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Quizplus · Accepted Answer

The general recommendation for an emergency fund is to have 3-6 months' worth of living expenses saved. Eric's monthly expenses are $4,500, so for 3 months, he would need $4,500 x 3 = $13,500.

Eric Patterson Earns $80,000 a Year