Emergency Fund Calculator
Calculate your target emergency fund amount and how long it will take to reach it.
Before you calculate
The number of reserve months is a planning choice. Include essential expenses and consider income variability, dependants and insurance deductibles.
Why an Emergency Fund Matters
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.
Target reserve = Monthly essential expenses × Reserve months; Gap = max(Target − Savings, 0)Example Scenarios
The 3-Month Minimum
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.
Why 6 Months Is Better
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.
Sources & calculation notes
Maintained by MoneyCalc. Results are estimates based on the inputs and assumptions shown, not personalized financial advice or a lender quote. Default rates are examples unless a specific tax year or official table is identified.
References explain the underlying concepts or rules. They do not endorse or independently certify this implementation.
Calculations run in your browser. Some tools retain settings on this device. Displayed rounding can produce small differences from a statement or contract.