Emergency Fund Calculator

How this emergency fund calculator works

Your emergency fund should cover essential living expenses — housing, food, utilities, insurance, minimum debt payments — for a set number of months. This calculator tells you your target fund size, how short you are, and how long it will take to get there based on what you can save each month.

The formula

Target fund = Monthly expenses × Months of coverage

Shortfall = Target − Current savings. Months to reach goal = Shortfall ÷ Monthly savings.

How many months to target?

• 3 months — stable dual-income, employable skills, good health
• 6 months — most households, single income, or specialized career
• 9–12 months — self-employed, irregular income, or high-dependency household

Keep your emergency fund in a high-yield savings account — separate from checking so it is not spent casually, but accessible within 1–2 days when needed.