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Emergency Fund Calculator
An emergency fund is months of expenses sitting safely aside, not a vague savings wish. Enter your monthly spending, pick a target from 3 to 12 months, and this calculator sets your goal, shows the gap, counts the months at your savings rate, and tracks progress.
-Fund target
-Remaining gap
-Months until goal
-Funded so far
The emergency fund formula
Fund target = monthly expenses x target months. Remaining gap = target - current savings, floored at zero. Months until goal = gap / monthly savings, rounded up, because a partial month still takes a full month. Progress = current savings / target x 100, capped at 100 percent.
Worked example
Monthly expenses 2500, target 6 months, saved 1000, saving 300 per month.
- Target: 2500 x 6 = 15000.
- Gap: 15000 - 1000 = 14000.
- Months: 14000 / 300 = 46.7, rounded up to 47 months.
- Progress: 1000 / 15000 x 100 = 6.7%.
Why 3 to 6 months is the standard advice
Most financial planners recommend 3 to 6 months of essential expenses in an instantly accessible account. Three months suits stable dual incomes, six suits freelancers and single earners, and 9 to 12 months suits volatile industries. The fund covers job loss, medical bills, and urgent repairs, not vacations or planned purchases.
Where to keep the fund
An emergency fund must be liquid and safe: a high-yield savings account is the usual home. It should not sit in stocks, crypto, or locked deposits you cannot touch quickly. Once the target is reached, redirect the monthly amount to investing or debt payoff.
Planning estimate only. Results use the list prices shown and may differ from your actual bill. Terms
Frequently asked questions
How big should my emergency fund be?
Multiply your essential monthly expenses by 3 to 6. This calculator does that math and then shows how far your current savings get you toward the goal.
Which expenses count?
Essential spending only: rent, food, utilities, transport, insurance, and minimum debt payments. Leave out dining out, travel, and other discretionary spending you could cut in a crisis.
How many months until I reach my goal?
Divide the remaining gap by what you can save each month and round up. Enter your numbers above and the calculator shows the month count directly.
Where should I keep my emergency fund?
Keep it in a high-yield savings account you can reach within a day or two. Avoid stocks, crypto, and locked term deposits for this money.