you are saving for an emergency fund totaling six months' worth of expenses as well as investing 20% of each paycheck for retirement. if your monthly expenses amount to 1,465 and you want to put aside 30% of each month's expenses for your emergency fund and you earn 2,650 each month, how much do you need to set aside each month for your emergency fund and retirement savings? Can you afford to do this?

Most experts believe you should have enough money in your emergency fund to cover at least 3 to 6 months' worth of living expenses.While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.

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