Emergency Fund Calculator
Figure out your target safety net from your real monthly spending — then see what to save each month to get there.
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Emergency fund target
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Based on essential spending, not income.
How it works
Your fund target is simply your essential monthly spending times the months of coverage you want:
Subtract what you have already saved to get the gap, then divide by your timeline:
If you have already hit the target, the calculator will tell you the fund is fully funded — and you can redirect that monthly amount to investing or debt payoff instead.
Frequently asked questions
How many months of expenses should I save?
Three to six months is the standard advice. Lean toward six or more if your income is variable, you are self-employed, or you work in a volatile industry; three can be enough with very stable employment.
Should my emergency fund cover my income or my expenses?
Your expenses. An emergency fund replaces the spending you must keep doing — housing, food, insurance — not your full paycheck. Basing it on expenses keeps the target realistic.
Where should I keep my emergency fund?
Somewhere safe and quickly accessible: a high-yield savings account or money market account. Not invested in stocks, where it could drop exactly when you lose your income, and not locked in a CD with penalties.
What counts as an emergency?
True surprises: job loss, medical bills, urgent home or car repairs. Not predictable costs like holidays, annual insurance premiums, or a sale you don't want to miss — budget for those separately.