Emergency Fund Calculator
Calculate your target emergency fund amount and how long it will take to reach it.
Calculate your target emergency fund amount and how long it will take to reach it.
Your total essential monthly expenses.
How much you currently have saved.
How much you can add each month.
Rate earned on your savings account.
An emergency fund is a dedicated cash reserve for unexpected expenses such as job loss, medical bills, or urgent repairs. Financial experts recommend keeping 3–6 months of essential expenses in an easily accessible account.
A single-income family with $3,500/month in expenses needs at least $10,500 as a safety net. Saving $400/month at 4.5% APY gets there in about 24 months.
Two-income households or those in volatile industries should target 6 months ($21,000 at $3,500/month). The extra cushion prevents costly decisions like withdrawing retirement funds during a crisis.