El Castillo Investments

What is the main purpose of an emergency fund?

• To pay for vacations and travel
• To cover unexpected expenses like job loss or a medical bill
• To invest directly in the stock market
• To pay off your mortgage early

According to common starter-savings guidance, how much should a first emergency fund typically hold?

• $500–$1,000
• $50,000 or more
• Exactly one month's rent
• Nothing — starter funds aren't necessary

Where is the best place to keep emergency fund savings?

• In cash at home
• In an accessible savings account you can reach quickly
• In cryptocurrency
• Locked in a 10-year certificate of deposit

Once you've built a starter emergency fund, what's the next savings goal most experts recommend?

• Stop saving altogether
• 3 to 6 months of essential living expenses
• Exactly one year's full salary
• A flat $100 total

Which of these is an appropriate use of emergency fund money?

• A last-minute concert ticket
• An unexpected car repair needed to get to work
• A new phone upgrade
• Holiday gifts