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Essay heading: FInancial Planning
 
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Issue: Business
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Date added: August 4, 2003
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No of pages / words: 2 / 460
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This money should be deposited in a savings account paying the highest available interest rate or in a money market mutual fund that provides immediate access to cash if needed. It is also advisable for them to put away 3 to 9 months’ living expenses in their savings account (Hughes, 2004). For example, if the Marcottes’ total monthly expenses are $3000, before they can begin investing, they must save at least $9000 in their savings account or other near-cash investments to meet emergencies...
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For example, if the Marcottes’ total monthly expenses are $3000, before they can begin investing, they must save at least $9000 in their savings account or other near-cash investments to meet emergencies. The Marcottes may also want to establish a line of credit at a commercial bank, savings and loan association, credit union, or credit card company...
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