How much should an emergency fund cover?(1 point)

Responses

one month’s expenses
one month’s expenses

three months’ expenses
three months’ expenses

six months’ expenses
six months’ expenses

twelve months’ expenses

1 answer

An emergency fund should ideally cover three to six months’ expenses. This range provides a buffer to handle unexpected financial situations, such as job loss or medical emergencies, without relying on credit. Therefore, the most commonly recommended answer is six months’ expenses for a more robust safety net.

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