Money for a Rainy Day
Written by Studio AM.
Your result
- Words per minute
- Score
- Pace
Words per minute mean something only with the score beside them. They describe this passage on this read. With fewer than 3 right, try the next slower pace.
Choose a pace and select Start. The passage is paced and timed, then the questions check what you understood. How pace mode works
Reading time 0:00
Life brings surprises, and many of them cost money. A car breaks down. A tooth needs fixing. A job ends without warning. Without savings, people may need to borrow or find other help when these things happen.
That is why many advisers suggest keeping an emergency fund. This is a pot of money set aside for hard times and nothing else. One possible goal is to save enough to cover three months of basic costs, such as rent and food. The right amount depends on income, costs, and available support. That amount is not easy to reach, and it may take years.
The trick is to build it slowly and to leave it alone. It is not for a holiday or a new phone. It is only for a true emergency.
A fund can make a sudden bill easier to manage and may reduce worry. It cannot cover every crisis, but even a small reserve can help with some unexpected costs.
The passage is hidden while you answer. It comes back with your result.
Questions
Choose an answer. The explanation appears after you answer.
-
Question 1 of 4
What is the passage mainly about?
The answer is A: An emergency fund: savings set aside only for hard times
The passage explains what an emergency fund is, what it is for, and why it helps.
-
Question 2 of 4
What possible savings goal does the passage give?
The answer is B: Enough to cover three months of basic costs
Three months of basic costs is one example, not a requirement suitable for everyone.
-
Question 3 of 4
Why might an emergency fund reduce worry?
The answer is B: It can help pay an unexpected bill.
Having money available may make some unexpected expenses easier to manage; it does not prevent every crisis.
-
Question 4 of 4
In this passage, "emergency" most nearly means
The answer is B: a sudden event requiring quick action
The examples -- a broken car, a lost job, a sudden bill -- show an emergency is a sudden serious event.
Score: none answered yet.