A self-employed freelancer with irregular income wants to build an emergency fund. Which approach is most appropriate for determining the target amount?
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A
Use the standard 3-month expenses guideline like a salaried employee
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B
Target 6-12 months of expenses due to income volatility
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C
Keep only 1 month of expenses since freelancers can find work quickly
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D
Set aside a fixed dollar amount regardless of monthly expenses