Emergency Fund Calculator
Calculate your emergency fund target and track your progress toward financial security.
Emergency Fund Calculator
Calculate how much you need in your emergency fund
Formula
Target = Monthly Expenses × Months of CoverageHow to Use This Calculator
- 1
Enter monthly expenses
Input your total monthly living expenses.
- 2
Choose coverage months
Select how many months of expenses to save (3-12).
- 3
Add current savings
Enter how much you've already saved.
- 4
Set savings rate
Input how much you can save each month.
- 5
Track progress
See your target, progress, and time to goal.
Frequently Asked Questions
How much should I have in an emergency fund?
Most experts recommend 3-6 months of expenses. If you have variable income or are the sole earner, aim for 6-12 months.
Where should I keep my emergency fund?
Keep it in a high-yield savings account. It should be easily accessible but separate from your checking account to avoid temptation.
What counts as an emergency?
True emergencies include job loss, medical emergencies, major car repairs, or urgent home repairs. Planned expenses and wants are not emergencies.