Emergency Fund Calculator
How big should your emergency fund be, and how long to build it?
Your Emergency Fund Calculator Result
Generated from the inputs below — a record you can revisit, or share with anyone helping you plan.
Your detailsInput Parameters
Rent/mortgage, utilities, groceries, insurance, minimum debt payments -- not discretionary spending
3 months is a common minimum, 6 months is common for single-income households or variable income
High-yield savings accounts commonly offer 3.5-5% APY
4 months of essential expenses at $3,500/month
$1,500 of $14,000 saved so far
At 4.0% APY, compounded monthly
Analysis
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Open calculatorOverview
The Emergency Fund Calculator answers two questions most savings calculators skip past: how big should your emergency fund actually be, and how long will it take to build it? Enter your essential monthly expenses and how many months of coverage you want, and the calculator computes your recommended target automatically -- no guessing at a round number.
From there, add your current savings, monthly contribution, and your savings account's interest rate to see exactly when you'll reach your target, including the interest your account earns along the way.
Already know your savings goal amount? Use the Goal-Based Savings Calculator for a general timeline projection.
How the Target Is Calculated
"Essential" expenses means the costs that don't stop if you lose income -- housing, utilities, groceries, insurance, and minimum debt payments. Discretionary spending (dining out, entertainment, subscriptions) is usually excluded, since that's spending you could cut in an actual emergency.
Once the target is set, the calculator projects your balance forward month by month at your contribution rate and APY, compounding monthly, until the balance reaches the target.
Frequently Asked Questions
3 months is a common baseline for dual-income households with stable jobs. 6 months or more is often recommended for single-income households, freelancers, or anyone with variable income.
Most financial planners recommend basing your target on essential expenses only -- the costs you can't easily cut if income stops. This keeps the target realistic rather than inflated by spending you'd naturally reduce in a real emergency.
A high-yield savings account is the most common recommendation -- it's liquid (accessible without penalty) while still earning meaningful interest, unlike a checking account or an investment account with market risk.