How much do many advisers recommend saving?
Financial advisers often suggest that people save a portion of every paycheck, even if the amount is small. Over time, small deposits add up, and the interest earned on savings makes the total grow faster. An emergency fund is especially important. It allows a family to pay for unexpected costs, such as a car repair or a medical bill, without taking on debt. Many advisers recommend saving enough to cover three to six months of expenses.
Answer and explanation
Correct answer: B. Three to six months of costs
- Step 1: The last sentence gives this range. Answer: Three to six months of costs. Why not the others: One week of expenses at most, Two years of the family's income and Ten dollars from each paycheck don't fit.
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