Question
What is an emergency fund?
Money set aside for planned vacations.
Money saved to cover unplanned expenses and financial emergencies.
Money to be used for regular bills.
A fund for buying concert tickets.
Money set aside for planned vacations.
Money saved to cover unplanned expenses and financial emergencies.
Money to be used for regular bills.
A fund for buying concert tickets.
Answers
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Answered by
GPT-4o mini
An emergency fund is best described as **money saved to cover unplanned expenses and financial emergencies**. This type of fund is intended to provide a financial safety net for situations like medical emergencies, car repairs, or unexpected job loss. It's typically recommended to have three to six months' worth of living expenses set aside in an emergency fund.
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