Home / Emergency fund calculator
Emergency fund calculator
How many months could you cover if the pay stopped tomorrow? Add up only the essentials, tell us how steady your income is, and see your target.
Essential monthly costs
Your income
Your target: 6 months of essentials
$15,600
You cover 0.6 months today. $14,100 to go — about 47 months at $300 a month.
Essentials total $2,600 a month. Not sure of the numbers? Fill in the budget calculator first — the needs total is what goes here.
Three, six or nine months?
The month count is about how long it would take to replace your income. Two earners in steady jobs are unlikely to lose both at once, so three months is often enough. A single income usually means six. Freelancers, commission earners and anyone in a seasonal industry should aim higher, because income can dip for months without warning.
Build it in stages: a starter pot of one month, then three, then the full target. Watching the month boxes fill is a surprisingly good motivator. Once it's done, redirect the same monthly amount using the savings calculator.
Questions people ask
How much should an emergency fund be?
The usual guidance is three to six months of essential expenses; the US Consumer Financial Protection Bureau and most personal-finance writers use that range. Go toward six months or more if you are self-employed, have one income, or work in an unstable industry.
Should I count all my spending or just essentials?
Just essentials — what you would still have to pay if you lost your income: housing, food, utilities, transport, insurance and minimum debt payments. You would cut wants in a real emergency.
Where should I keep an emergency fund?
Somewhere safe and instantly accessible, like an easy-access savings account separate from your everyday account. Not in investments that can fall in value just when you need them.
Should I pay off debt or build an emergency fund first?
A common approach is a small starter fund (for example one month of essentials) first, then attack high-interest debt, then finish the full fund. Without any buffer, one surprise bill goes straight back on the credit card.