Planning

Emergency Fund Calculator

Find your target emergency fund, see how many months you are covered, and plan your path to fully funded.

Monthly Essential Expenses

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Your Situation

3 months minimum, 6 recommended, 9-12 if self-employed

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Results

Under-funded
1.5 months covered of 6 month target
Progress to goal25%
$5,000.00 saved$20,100.00 goal
Target emergency fund
$20,100.00
6 months × $3,350.00/mo
Remaining shortfall
$15,100.00
Time to fully funded
4 yr 3 mo
3-month target
$10,050.00
6-month target
$20,100.00
Monthly essential expenses
$3,350.00

Emergency fund essentials

Why 3-6 months?

3 months covers most short-term job losses or emergencies. 6 months is the standard recommendation. Self-employed or single-income households should target 9-12 months.

Where to keep it

A high-yield savings account (HYSA) is ideal — FDIC insured, earns 4-5% APY, and fully liquid. Avoid investing emergency funds in the stock market.

Essential expenses only

Your emergency fund covers needs, not wants. Housing, food, utilities, insurance, minimum debt payments — not subscriptions, dining out, or entertainment.

Build it first

Before aggressively investing or paying extra on debt (beyond the minimum), build at least 1-3 months of emergency savings. It prevents one bad event from derailing your entire financial plan.

For educational purposes only. Not financial advice.