Emergency Fund Calculator
An emergency fund is money set aside for surprise costs, such as a car repair or a lost paycheck. This page sets the goal from your monthly spending, then shows how long the rest will take to save.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
Multiply the essential spending each month by the number of months you want covered. Subtract what you already have to find the gap. Divide the gap by what you save each month to see how many months it takes.
Count only the spending you must cover, such as housing, food, transport, insurance and minimum debt payments. The right number of months depends on your job and your family.
Worked example
Covering 6 months of $3,200.00 takes a fund of $19,200.00. With $1,500.00 saved, the gap is $17,700.00, which is about 59 months of saving at $300.00 a month.
Questions
How many months should I cover?
Many people aim for three to six months. People with variable income, or one income for a family, often choose more. The choice is personal.
Where should the fund be kept?
Many people keep it in an account that is easy to reach. Check the account terms and fees before you choose.
What if I can save only a little?
Start with a smaller goal, such as one month, and build from there. Any steady amount adds up over time.
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