An estimated 44% of Americans wouldn’t be able to cover an unexpected $400 expense without either borrowing money or selling something that they own, and that’s a huge problem.
Life is full of unexpected surprises. Sure, some of those may be good surprises—but we don’t really need to worry about those. It’s the bad surprises that threaten to drag us down into debt if we aren’t careful and ready to handle them.
That’s why building an emergency fund to rely on in case an emergency strikes is one of the most important steps that everyone should take.
Think you know emergency funds? The quiz below was built to test just how well you understand the concept, and includes questions about how much money you should have in your emergency fund, where you should keep your emergency savings, what counts as a true emergency worth tapping your fund, and more.
Take the quiz, test your skill, and share with anyone that you think should learn more about emergency funds.
Related Reading:
How to Build an Emergency Fund: Tips & Advice for Savers
13 Ways to Build an Emergency Fund Fast
How Much Do You Need in Your Emergency Fund? [CALCULATOR]
Where to Put Your Emergency Fund for Safety and Growth
Why You Should Create an Emergency Fund While Paying Down Your Student Loans
