To calculate the number of months it will take to fully fund your emergency fund, divide the total amount needed for three months' worth of expenses by the amount you're saving each month.
The total amount needed for three months' worth of expenses is $1,800 * 3 = $<<1800*3=5400>>5,400.
So, it will take you $5,400 / $600 = <<5400/600=9>>9 months to fully fund your emergency fund.
You are working on building your emergency fund. Your total living expenses are
\[\$1{,}800\] per month and you're hoping to save enough for three months' worth of expenses. You're currently saving
\[\$600\] each month.
How long will it take you to fully fund your emergency fund?
months
1 answer
1 answer