ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your favorite rap star is playing a concert nearby and you really want to go
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You got laid off from work and are looking for a job
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Your basement is flooding and you need to pay a plumber to fix it
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Playstation 6 just came out and you really want it
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Detailed explanation-1: -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. It shouldn’t be considered a nest egg or calculated as part of a long-term savings plan for college tuition, a new car, or a vacation.
Detailed explanation-2: -Set several smaller savings goals, rather than one large one. Set yourself up for success from the start. Start with small, regular contributions. Automate your savings. Don’t increase monthly spending or open new credit cards. Don’t over-save.
Detailed explanation-3: -Online savings account or money market deposit account. Bank or credit union savings account. Money market mutual fund. Checking account. Certificate of deposit. The stock market. Savings bonds. At home. 28-Feb-2023
Detailed explanation-4: -High-Yield Savings Account. Opening a high-yield savings account to start an emergency fund makes a lot of sense. Money Market Account. Money market accounts are similar to high-yield savings accounts. Certificate of Deposit. Traditional Bank Account. Roth Individual Retirement Account. 27-Sept-2022