Question

At your age, a full funded emergency fund should be:

A. $1,000
B. $5,000
C. $100
D. $500

Answer 1

A full funded emergency fund at your age would depend on numerous factors such as your income, monthly expenses, and financial goals.

However, a commonly recommended rule of thumb is to save three to six months' worth of living expenses in your emergency fund.

Step-by-step explanation:

A full funded emergency fund at your age would depend on numerous factors such as your income, monthly expenses, and financial goals.

However, a commonly recommended rule of thumb is to save three to six months' worth of living expenses in your emergency fund.

This means that if your monthly expenses are $2,000, you should aim to have $6,000 to $12,000 in your emergency fund.