Emergency Fund Calculator
An emergency fund is a dedicated savings reserve designed to cover essential living expenses during unexpected events such as job loss, medical emergencies, or major home repairs. Financial experts generally recommend saving between 3 and 12 months of essential expenses, with the exact amount depending on your job stability, number of income earners in the household, and personal risk tolerance.
This calculator helps you determine your target emergency fund size based on your essential monthly expenses and desired coverage period. It also shows how many months your current savings already cover and the remaining gap you still need to fill — giving you a clear, actionable savings goal.
How it works
Target Fund = Essential Monthly Expenses × Months of Coverage. Gap = Target Fund − Current Savings (minimum 0). Months Covered = Current Savings ÷ Essential Monthly Expenses.
Use cases
- Calculating how much to save before leaving a stable job
- Planning a financial safety net as a freelancer or self-employed professional
- Determining how quickly you can fully fund your emergency reserve
- Comparing 3-month vs 6-month vs 12-month coverage scenarios
- Reviewing emergency fund adequacy after a major life change such as marriage or having a child