Emergency Fund Calculator
Calculate your ideal emergency fund size and how long it will take to save. Based on your monthly expenses and savings rate.
How This Calculator Works
Calculation methodology and assumptions
Emergency fund = Monthly essential expenses × target months. Financial experts recommend 3-6 months of expenses for most people. Self-employed, freelancers, and single-income households should aim for 6-12 months. The calculator projects how long it will take to reach your goal based on current savings and monthly contributions.
Frequently Asked Questions
How much should an emergency fund be?
Most experts recommend 3-6 months of essential expenses. $24,000-$36,000 is typical. If you're self-employed or have irregular income, aim for 6-12 months. Start with $1,000 as a starter emergency fund.
Where should I keep my emergency fund?
High-yield savings account (HYSA). These offer 4-5% APY while remaining FDIC-insured and accessible. Don't invest emergency funds in stocks — they need to be liquid and stable.