Calculator
Emergency Fund Calculator
Estimate how much to save for emergencies based on your monthly expenses and a target number of months, plus a suggested range for different risk levels.
Your inputs
Results
Assumptions
• “Monthly essential expenses” should exclude discretionary spending. • Savings growth/interest isn’t included. • Timeline estimate assumes consistent monthly contributions.
Related tools
What is an emergency fund calculator?
An emergency fund calculator helps you estimate how much cash savings you should keep available to cover essential expenses during income disruption or unexpected costs. Most financial guidelines suggest saving between three and twelve months of essential expenses, depending on job stability, household size, and income variability.
This calculator multiplies your monthly essential expenses by your selected coverage target, then shows how much you still need to save and how long it may take to reach that goal.
How much emergency fund do you really need?
The right amount depends on your situation:
- 3–6 months may be appropriate for dual-income households with stable employment.
- 4–8 months is common for typical families with moderate risk.
- 6–12 months may be safer for single-income households, self-employed workers, or variable income earners.
If you're a new parent navigating changing expenses and childcare costs, this guide may also help: How to Build an Emergency Fund for New Parents (2026 Guide) .
What counts as “essential expenses”?
Essential expenses typically include:
- Mortgage or rent
- Utilities
- Groceries
- Minimum debt payments
- Insurance premiums
- Transportation
- Childcare (if required to maintain employment)
Discretionary spending such as dining out, vacations, subscriptions, and entertainment is usually excluded when calculating your emergency baseline.
Why emergency funds matter before investing
Building an emergency fund is often considered a foundational financial step before aggressive investing or accelerated debt payoff. Without a cash buffer, unexpected expenses may force you into high-interest debt or early investment withdrawals.
After establishing an emergency cushion, families may shift focus toward tools like the mortgage payoff calculator or 529 college savings calculator depending on long-term goals.
Where should you keep your emergency fund?
Most financial professionals recommend keeping emergency savings in a liquid, low-risk account such as a high-yield savings account. The goal is accessibility and capital preservation — not aggressive growth.
How long will it take to build your emergency fund?
This calculator estimates how many months it could take to reach your target based on consistent monthly contributions. Increasing contributions, directing bonuses or tax refunds to savings, and automating transfers can significantly reduce the timeline.
Frequently asked questions about emergency funds
Should I pay off debt or build an emergency fund first?
Many experts recommend building a small starter emergency fund (for example, $1,000–$2,000) before aggressively paying off high-interest debt. After eliminating high-interest debt, expanding to 3–6 months of coverage may provide greater financial stability.
Is 3 months enough?
It can be for stable households. However, families with children, variable income, or single earners may prefer a larger cushion.
Should I invest my emergency fund?
Emergency funds are generally kept in low-risk, liquid accounts. Investing them in volatile assets can reduce accessibility when funds are most needed.
Related tools: Mortgage payoff calculator · 529 college savings calculator
FAQ
Should I include debt payments in monthly expenses?
Usually yes—include minimum payments you must make even during a rough month.
Where should I keep an emergency fund?
Many families use a high-yield savings account so the money stays accessible and low-risk.
Is 3 months or 6 months better?
It depends on income stability, job market, and household responsibilities. This tool can show both targets.