What amount should jared set as his goal

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Jared has no savings. He watched his parents spend all their money every payday. But his grandmother always said, "put something away for a rainy day." Jared had found out the hard way that unplanned things happen and cost money so the first saving he will do is an emergency fund then move on to investing. Jared earns $3,625 per month and has $2,350 per month in living expenses. He learned in financial literacy that one recommended goal is to save at least 3 months of expenses in his emergency fund. What amount should Jared set as his goal?

Reference no: EM132595952

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