Money & Finance
Emergency Fund Calculator
Size your emergency fund from real spending, find the gap, and plan the monthly savings to close it.
How it works
Behind the numbers
The bare-bones target is monthly essential spending times your chosen month count: 3, 6, or 9 months, or a custom number. Essentials mean rent, food, insurance, transport, and minimum debt payments. The full-comfort target adds non-essential spending for people who want the fund to cover their whole lifestyle during a job loss.
The gap is the target minus what you have saved, floored at zero. Dividing the gap by your monthly savings gives the months to the goal and a projected finish date. Entering a deadline instead flips the math: the gap divided by your deadline months is the required monthly savings, so you can see immediately whether the deadline is realistic.
A starter fund is the first milestone, $1,000 by default and editable. Hitting a small target first keeps momentum while the big number builds. An optional APY field estimates the interest earned while saving, computed on the average balance over the saving period and labeled as rough, since real balances grow unevenly.
FAQ
Questions, answered
How big should my emergency fund be?
The standard guidance is 3 to 6 months of essential spending: rent, food, insurance, transport, and minimum debt payments. Single-income households and freelancers often aim for 6 to 9 months. The calculator prices both a bare-bones and a full-comfort version so you can pick the one that fits.
What is a starter emergency fund?
A starter fund is a small first milestone, usually $1,000, saved before tackling the full target. It covers minor surprises like a car repair without touching credit. The calculator tracks starter progress separately so the first win arrives months before the full fund does.
How much should I save each month toward my emergency fund?
Divide your gap by your deadline. A $16,000 gap with a 24-month deadline needs about $667 per month. Enter your deadline and the calculator shows the required monthly amount next to what you can actually save, so the shortfall is explicit.
Should I keep my emergency fund in a high-yield savings account?
A high-yield savings account keeps the fund liquid while earning interest, which shortens the saving period slightly. The calculator estimates the interest on your average balance at the APY you enter. It is a rough planning figure, not a bank quote.