Suppose you are a salaried employee paid semi monthly You currently receive 52 000 gross income per year The 20 60 20 budget model has been working well for you so far so you plan to continue using this model Suppose you would like to build up an 8 month emergency fund over a 15 month period of time How much do you need to save each month to accomplish your goal 4 333 33x0 70 3 033 33 month 52 000 12 4 333 33 month 1 820 month X 8 months 15 months Monthly gross income 970 67 month 3 033 33x0 6 1 820 month