Emergency fund calculator

An emergency fund is a crucial financial safety net designed to cover unexpected expenses or periods of job loss. It provides peace of mind and prevents you from going into debt when life throws a curveball.

Your numbers

Monthly expenses ($)

Enter your total essential monthly expenses (for example, rent, food, utilities).

Desired coverage period (months) Typically 3 to 6 months of expenses.

Existing savings ($)

The amount you currently have saved for emergencies.

Amount you can save each month, optional ($)

Used to estimate how long it will take to reach your target.

Your emergency fund

Recommended emergency fund target $21,000

Amount still needed to save$16,000

Emergency fund progress24%

Milestones

Starter fund$1,000

3 months of expenses$10,500

Your target$21,000

Emergency fund tipsStart with a goal of $1,000 for immediate emergencies, then work toward 3 to 6 months of expenses. Keep your emergency fund in a separate, easily accessible savings account. Consider automating monthly transfers to build your fund consistently.

Target = monthly expenses x months of coverage. The time estimate assumes steady monthly saving and ignores interest earned. Everyone's situation differs, so treat this as a starting point. This calculator is for educational purposes and is not financial advice.