Question

Beth and Bob Martin have total take-home pay of $3,600 a month. Their monthly expenses total $3,100. Calculate the minimum amount this couple needs to establish an emergency fund. How did you calculate this amount?

Answer 1

Is there also possibly information about the percentage of income / amt an emergency fund constitutes?

Answer 2

Ideally you'd see that they have $500 excess per month

Answer 3

Okay, so I read that the emergency fund should be equal to 3 months worth of income

Answer 4

So it would probably be 3(3600)