Emergency Fund Calculator
Free emergency fund calculator to determine your ideal fund size based on monthly expenses and risk factors. Calculate 3-6 months of expenses and plan your savings timeline for financial security.
Recommendations
Recommended Emergency Fund (Based on Risk Assessment):
12,000
3 months of expenses
Your Preferred Target:
24,000
6 months of expenses (Medium Risk tolerance)
Current Coverage:0.5 months
Remaining Needed:10,000
Time to Goal:1.7 years
Risk Level:Low Risk
Reach your goal faster:
In 12 months: Save 833.333 per month
In 6 months: Save 1,666.667 per month
Savings Progress
Your Progress
Risk-Based Target
Your Preferred Target
Timeline to Emergency Fund
25
25%
50
50%
75
75%
100
100%
Tips
Start Small: Begin with a goal of $1,000, then gradually build to your full emergency fund target.
Automate Savings: Set up automatic transfers to your emergency fund to make saving effortless and consistent.
Keep It Liquid: Store your emergency fund in a high-yield savings account or money market account for easy access.
Separate Account: Keep your emergency fund in a separate account to avoid the temptation of using it for non-emergencies.
Review Regularly: Reassess your emergency fund needs annually or when your life circumstances change.
True Emergencies Only: Use your emergency fund only for genuine emergencies: job loss, medical bills, or urgent repairs.
FAQ
How much should I have in my emergency fund?
Where should I keep my emergency fund?
Do I include my mortgage/rent in monthly expenses?
What counts as an emergency?
Should I pay off debt or build emergency fund first?