Emergency fund calculator, how much money you should have
How much money should you keep aside for the unexpected, like losing your job or an expensive repair? Enter your income, your expenses and what you have already saved, and see your goal, what is left and how long it could take.
My Finances
Estimate for educational purposes. Not financial advice.
How it works
Your goal is your monthly spending multiplied by the months you want to cover, usually between 3 and 6. For example, with $1,700 of monthly expenses, the minimum would be $5,100 and the ideal $10,200. To estimate how long it would take, the calculator divides what is left to save by what you have left over each month.
Where it is usually kept
This money has to be available when you need it, so it is usually kept in a safe, easily accessible account, not in stocks or funds. If something unexpected happens just as the market falls, you will not want to sell at a loss to pay for it.
Good to know
- Between 3 and 6 months is a general rule, not an exact figure. The less stable your income, the more margin you usually need.
- Use your real expenses. If you do not know them exactly, enter an approximate figure and adjust it when you know more.
- The time shown assumes you put everything you have left over into the fund, every month.
Educational content. This is not financial advice.