[Get Solution] Emergency Fund
STEP 4: Identify a financial goal you would like to save towards this can be a short-term (1-2 years) or long-term (3+ years) goal and determine how quickly you want to save for it (Question 2 in Template).Select one of the following goals:Create an emergency fund of $1000Save up for a vacation that will cost $2000Save up to buy a $15,000 vehicleSave for a down payment of $40,000 to buy a houseSave $50,000 for education (personal, child, family, etc.)STEP 5: For the goal selected, set a timeframe for reaching that goal (1 to 10 years is the recommended range) (Question 3 in Template). Explain why that time frame is realistic to achieve your goal.Remember a good start to figuring out how much to save for your plan would be to divide your goal by the number of years you plan to be saving for it.Put this number into the Savings cell of the budget table in the Assignment 2 Financial Plan Budget Excel Template.
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