ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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learn how to plan for financial emergencies.
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never buy anything on credit.
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be able to buy anything you want.
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all of the above.
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Detailed explanation-1: -How much should you save? While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months’ worth of expenses.
Detailed explanation-2: -Knowing When to Use It The whole point of an emergency fund is to prevent you from having to add to your debt in times of need or to scramble to wrangle money at the last minute. You want to be able to focus on the crisis, not raising money to cover it.
Detailed explanation-3: -Build an emergency fund that will cover three to nine months of expenses. Consider various insurance options that help protect against financial emergencies. Invest in savings products designed for major expenses that are not unexpected. Get your financial “house” in order. More items
Detailed explanation-4: -Review Your Regular Budget. Your regular budget will already tell you how much you are spending. Separate Expenses. Decide What To Keep, What To Lower And What To Get Rid Of. Reassess Your Goals. Give Yourself Breathing Room … Save Any Extra Money. 18-Feb-2022