Saving for protection against unexpected setbacks,such as the loss of a job or a medical emergency,is called ________ saving.

Question

Quizplus · Accepted Answer

Precautionary saving involves setting aside funds to protect against unexpected events, such as job loss or a medical emergency. Public and national savings are not terms used to describe personal savings strategies. Life-cycle saving is focused on saving for long-term goals like retirement. Bequest saving refers to saving with the intention of leaving assets to heirs after death.

Saving for Protection Against Unexpected Setbacks,such as the Loss of a Job