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Course: Financial Literacy > Unit 2

Lesson 3: Saving money
Life skills
Financial Literacy
Budgeting and saving
Saving money
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Emergency fund

Google Classroom
You might need: Calculator

Problem

You are building your emergency fund and are writing down your monthly expenses:
ExpenseAmount
Rent$1,050
Utilities$208
Car payment$453
Insurance$85
Groceries$600
Phone & internet$104
TOTAL$2,500
Your goal is to have six months of expenses in your emergency fund.
How much money should you have in your emergency fund to meet your goal?
$
  • Your answer should be
  • an integer, like 6
  • a simplified proper fraction, like 3/5
  • a simplified improper fraction, like 7/4
  • a mixed number, like 1 3/4
  • an exact decimal, like 0.75
  • a multiple of pi, like 12 pi or 2/3 pi