Emergency Fund Calculator
An emergency fund is money set aside for surprise expenses (job loss, car repairs, medical bills). This calculator gives a simple target range based on your monthly “must-pay” costs.
Enter your monthly essential expenses to estimate an emergency fund target range. This estimate assumes your expenses stay similar and ignores interest and inflation.
Emergency Fund FAQs
What counts as “essential expenses”?
Essentials are the bills you must pay to keep your household running: housing, utilities, groceries, transportation to work, insurance, and minimum debt payments. Non-essentials like dining out, travel, and subscriptions are typically excluded from the emergency-fund baseline.
How many months should my emergency fund cover?
Many people aim for 3–6 months of essential expenses, but the right range depends on job stability, income volatility, dependents, health needs, and how quickly you could cut expenses. If income is irregular or job security is lower, a higher target (9–12 months) may be more appropriate.
How is the target calculated?
This calculator multiplies your monthly essential expenses by your selected “low” and “high” months. It then subtracts your current emergency savings (if provided) to estimate the gap to each target.
How is “time to reach targets” estimated?
If you enter a monthly contribution, the calculator estimates how many months it may take to cover the gap. This is a simple estimate that ignores interest and assumes your contributions and expenses stay steady.
Where should I keep my emergency fund?
Most people keep emergency savings in a safe, liquid place such as a high-yield savings account or money market account—somewhere you can access quickly without risking market losses or penalties.
Educational use only. This estimate ignores interest and inflation and assumes your expenses stay similar.
A common beginner approach is building 1 month, then 3 months, then working toward 6 months over time. Your number can be higher if your income is irregular or your expenses are less predictable.
Educational use only. This is a simplified estimate and not financial advice.