Sarah and Mark have monthly expenses of $4,500, including their mortgage payment of $1,800. They have job security, but their industry has experienced some recent layoffs. Based on FP Canada's general recommendations, what is a suitable emergency fund size for them?

Question: Sarah and Mark have monthly expenses of $4,500, including their mortgage payment of $1,800. They have job security, but their industry has experienced some recent layoffs. Based on FP Canada's general recommendations, what is a suitable emergency fund size for them?

Answer options: ✅ $13,500

• $9,000
• $27,000
• $18,000

Correct answer: $13,500

Explanation: FP Canada generally recommends 3-6 months of essential living expenses for an emergency fund. For a couple with some job security but industry instability, 3 months ($4,500 x 3 = $13,500) is the minimum, while 6 months ($27,000) would be more conservative.