Ronald's gross income is $60,000,and his living expenses consume 75 percent of his gross income.According to financial experts,Ronald should set aside ____ to cover emergencies.

Question

Quizplus · Accepted Answer

Financial experts typically recommend setting aside 3 to 6 months' worth of living expenses for emergencies. Ronald's living expenses are 75% of $60,000, which is $45,000 annually. Therefore, 3 to 6 months of living expenses would be $11,250 to $22,500.

Ronald's Gross Income Is $60,000,and His Living Expenses Consume 75