You have a realized income of $3,264.71/month. Your housing and fixed expenses are 36% of your monthly realized income. You want to save 4 months of an emergency fund within 9 months. How much must you save each month?
First, calculate your monthly housing and fixed expenses:
$3,264.71 x 0.36 = $1,174.90
Subtract your housing and fixed expenses from your monthly realized income to determine how much you have left to save each month:
$3,264.71 - $1,174.90 = $2,089.81
Next, calculate how much you need to save for a 4-month emergency fund:
4 x $3,264.71 = $13,058.84
Divide the total amount needed to save by the number of months you have to save it in:
$13,058.84 / 9 months = $1,450.98
Therefore, you need to save $1,450.98 each month to reach your goal of saving a 4-month emergency fund within 9 months.