ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fun fund
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Emergency fund
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Super fund
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Overage fund
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Detailed explanation-1: -An emergency fund is an essential corpus that you must keep aside to tackle emergencies.
Detailed explanation-2: -What is an emergency fund? An emergency fund is a cash reserve that’s specifically set aside for unplanned expenses or financial emergencies. Some common examples include car repairs, home repairs, medical bills, or a loss of income.
Detailed explanation-3: -What is an emergency fund? An emergency fund is a separate savings or bank account used to cover or offset the expense of an unforeseen situation.
Detailed explanation-4: -The rule of thumb is that you need to keep between three and six months’ worth of household expenses in your emergency fund. In order to populate your fund, you should find ways to economize and contribute those savings-along with any financial windfalls-to it.