Question

How much money should you save in case you have an emergency? eight months of living expenses six months of living expensestwelve months of living expenses two months of living expenses

Answer 1

Financial experts recommend that you have an emergency fund of six months’ living expenses saved in case you lose a job as an adult. So, the correct answer is B: six months of living expenses.

Answer 2

A person must save around six months of living expenses in case of an emergency.

How much to save in case of an emergency?

Personal financial saving implies keeping aside some part of disposable income. It is advised by financial experts that an individual must save his six-month living expense in order to cope with their sudden financial crises.

Therefore, it is suggested that it takes a minimum of six months for a person to find a job or come out from any financial issues.  

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