2. Which of the following is an effective strategy for personal saving? a. Wait until the end of the month and save whatever is left in your b. Save a certain percentage of each paycheck and deposit it dire account c. Cover all of your wants and needs and save whatever is left d. Take out a payday loan so you can save before you receive 3.Joelle wants to have an emergency fund to cover 6 months of gross pay is 4,000 and her monthly expenses are 2,000 lf gross pay each month, how long will it take her to build her a. 3 months b. 9 months c. 24 months d. 30 months

2. The correct answer is b. Save a certain percentage of each paycheck and deposit it directly into your savings account.<br /><br />Explanation:<br />- Option a is not an effective strategy because it relies on leftover money, which may not be sufficient for saving.<br />- Option b is an effective strategy because it involves setting aside a specific percentage of each paycheck and depositing it directly into a savings account, ensuring consistent saving.<br />- Option c is not an effective strategy because it prioritizes wants and needs over saving.<br />- Option d is not an effective strategy because payday loans typically come with high interest rates, which can lead to debt rather than saving.<br /><br />3. The correct answer is c. 24 months.<br /><br />Explanation:<br />- Joelle's gross pay is $4,000 per month, and her monthly expenses are $2,000.<br />- To cover 6 months of expenses, she needs to save $2,000 x 6 = $12,000.<br />- Since she saves $4,000 per month, it will take her $12,000 / $4,000 = 3 months to save the required amount.<br />- Therefore, the correct answer is c. 24 months.