Emergency Fund Calculator
An emergency fund covers essential expenses if your income stops or a large bill arrives. The usual target is three to six months of essential spending, held somewhere safe and easy to reach.
Enter your figures below. Results update as you type.
Emergency fund target$21,000.00
- Getting started under 7000
- Building 7000-14000
- Nearly there 14000+
- Still to save
- $17,000.00
- Your savings cover
- 1.1 months
- Time to reach the target
- 3 yr 7 mo
- Target reached
- Jun 2030
How the Emergency Fund calculation works
Target = essential monthly expenses x months to cover
With $3,500 of essential monthly expenses, a six-month fund is $21,000. Starting from $4,000 and saving $400 a month, the remaining $17,000 takes 3 years 7 months to build.
Frequently asked questions
How much should I have in an emergency fund?
Three to six months of essential expenses is the standard advice. Aim for the higher end, or more, if you are self-employed, have one income or have dependents.
Where should I keep my emergency fund?
In an account that is safe and quick to access, such as a high-yield savings or money market account. It should not be invested in anything that can fall in value just when you need it.
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