Fill in the Blank QuestionFill in the blank question.Mr. Jones wants to establish an emergency fund. His living expenses for his family are $2,000 per month. The minimum Mr. Jones should have in his emergency fund is $.
Question
Fill in the Blank QuestionFill in the blank question.Mr. Jones wants to establish an emergency fund. His living expenses for his family are .
Solution
The general rule of thumb for an emergency fund is to have 3-6 months' worth of living expenses saved up. So, if Mr. Jones's living expenses are 6,000 (3 months' worth of expenses) and the maximum is $12,000 (6 months' worth of expenses).
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