QUIZ: What’s Your Spending Personality?
Are you the miser who brings home other people’s leftovers? Or do you spend money as fast as you get it? Regardless of your spending habits, having an emergency fund set aside is important. That way, when unexpected events like a job loss or hospitalization occur, you won’t have to run up your credit cards or dip into college or retirement savings accounts. Take this quiz, and see where you fall on the savings spectrum.
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Emergency Fund Facts
Emergency funds are separate savings accounts to cover unexpected expenses from a life-changing event, like the loss of a job or hospitalization. Personal finance experts advise saving enough to cover a minimum of three to six months of expenses or more as a cushion.
Do you have a financial backup plan? Check out the What’s Your Backup Plan? series to learn more.