Emergency Fund Target Calculator
An emergency fund should cover your essential expenses if income stops. Enter your monthly essential expenses, how many months of coverage you want based on job stability, and how much you can save monthly to see your target and timeline.
About this calculator
Calculate how large your emergency fund should be based on monthly essential expenses, job stability, and desired months of coverage, plus a savings timeline.
Frequently Asked Questions
How many months of expenses should I save?
A common rule of thumb is 3-6 months of essential expenses, but those with less stable income or job security often aim for 6-9 months or more.
Should I include discretionary spending in monthly expenses?
No, focus on essential costs like housing, utilities, food, insurance, and minimum debt payments — not discretionary spending like entertainment.
Where should I keep my emergency fund?
Most people keep emergency savings in a high-yield savings account for easy access and some interest growth, rather than investing it in the market.