Emergency Fund Calculator
Calculate how much you should save for emergencies based on your personal situation
Advertisement
Calculate Your Emergency Fund
Your Emergency Fund Analysis
Monthly Expenses Summary
Total Monthly Expenses:
$0.00
Recommended Fund (3 months):
$0.00
Recommended Fund (6 months):
$0.00
Your Progress
Personalized Recommendations
- Fill out the calculator to get personalized recommendations.
Savings Timeline
Advertisement
Emergency Fund Tips
- ✓ Start with small, regular contributions
- ✓ Keep funds easily accessible
- ✓ Use high-yield savings accounts
- ✓ Review and adjust regularly
Advertisement
Understanding Emergency Funds
Why Have an Emergency Fund?
An emergency fund provides financial security during unexpected events like job loss, medical emergencies, or major repairs.
How Much to Save?
Most experts recommend 3-6 months of expenses, but your specific needs may vary based on job stability, health, and dependents.
Where to Keep It?
Keep your emergency fund in an easily accessible account like a high-yield savings account, separate from your regular checking.
Advertisement
Frequently Asked Questions
Emergencies typically include unexpected job loss, medical expenses, urgent home or car repairs, and other unforeseen critical expenses. Regular expenses or planned purchases should not come from your emergency fund.
The time needed depends on your savings rate and target amount. Start with a goal of one month's expenses, then gradually build up to your full target. Consistent monthly contributions are key to reaching your goal.
Advertisement