Emergency Fund Calculator
Find how big your emergency fund should be from your essential monthly expenses, how much is missing and how many months it takes to build it.
What it does
An emergency fund is money set aside for unexpected costs such as losing your job, a medical bill or an urgent repair. The usual advice is 3 to 6 months of essential expenses (housing, food, utilities, transport, insurance and minimum debt payments), and more when income is irregular. The calculator multiplies your expenses by the months you choose, subtracts what you already have and shows how long it takes at your monthly saving.
How to use it
- Add up your essential monthly expenses and type the total.
- Choose how many months to cover and type what you have saved and how much you can save per month.
- See the goal, how much is missing and when you will reach it.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much should I have in an emergency fund?
Usually 3 to 6 months of essential expenses, and more if your income is irregular or you are self-employed. With 3,000 of essential expenses a month, 6 months is 18,000.
How long will it take to build my emergency fund?
Divide what is missing by what you can save each month. With 5,000 saved, a goal of 18,000 and 500 a month, it takes 26 months.
Where should I keep my emergency fund?
Somewhere safe that you can reach quickly without penalties, such as a high-yield savings account or a money market account, kept apart from your everyday account.
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