What is a good approximate amount to have in your emergency fund?
3-6 years of savings
3-6 weeks of savings
3-6 days of savings
3-6 months of savings
In order to not lose purchasing power over time, the rate of return for saving should be at least as high as the rate of inflation.
FALSE
TRUE
the human behavior of wanting to spend more because we see others around us spending more and enjoying goods and services that we think we would enjoy as well.
FOMO
Inflation
Cashless Bias
common term for those who don't have enough money to pay for future expenses until their next paycheck arrives
Cashless Bias
FOMO
Living Paycheck to Paycheck
the rate of increase in prices over a given period of time.
inflation
Living Paycheck to Paycheck
FOMO
All of the following are challenges to saving EXCEPT
Paying Yourself First
Credit Cards
Impulse Buying
Social Media
You should keep your emergency fund in your checking account
FALSE
TRUE
Which of these is a good reason to tap into your emergency fund?
buying books for college
paying your cell phone bill
$500 deductible after a car accident
