Scenario Five Sarah's getting ready to head back to school after an awesome summer break. She bought a new planner, has her schedule all set,and has all the supplies she needs for the new school year. The day before school starts, the zipper on her backpack gets stuck and she has to use a knife to cut it open. Now that her backpack is useless, she sets out to buy a new one. Sarah actually thinks this is perfect timing because she's had her eye on a specific backpack for a while, and now it's on sale for 225 9. Should Sarah use part of her emergency fund to buy this backpack? square Yes No 10. Explain your reasoning.

Question

Scenario Five Sarah's getting ready to head back to school after an awesome summer break. She bought a new planner, has her schedule all set,and has all the supplies she needs for the new school year. The day before school starts, the zipper on her backpack gets stuck and she has to use a knife to cut it open. Now that her backpack is useless, she sets out to buy a new one. Sarah actually thinks this is perfect timing because she's had her eye on a specific backpack for a while, and now it's on sale for 225 9. Should Sarah use part of her emergency fund to buy this backpack? square Yes No 10. Explain your reasoning.

Answer 1

9. No10. Sarah should not use part of her emergency fund to buy the backpack because an emergency fund is meant to cover unexpected expenses, such as medical bills or car repairs, not discretionary purchases like a new backpack. Using the emergency fund for non-essential items can deplete the fund and leave Sarah without a financial safety net in case of a real emergency. It is important for saving for avoid using the fund for non-essential items.

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