Janice spends a total of $1,500 a month to cover all living expenses.Which of the following would represent the minimum appropriate emergency fund?

Name: Janice spends a total of $1,500 a month to cover all living expenses.Which of the following would represent the minimum appropriate emergency fund?
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Question

Quizplus · Accepted Answer

Financial advisors typically recommend having an emergency fund that covers 3 to 6 months of living expenses. For Janice, this would be $4,500 (3 months * $1,500) to $9,000 (6 months * $1,500).

Janice Spends a Total of $1,500 a Month to Cover