Emergency Fund Calculator
Calculate how much you need in your emergency fund based on your monthly expenses and desired coverage.
Calculator Inputs
Fund Needed
$18,000
Monthly Expenses
$3,000
Current Gap
$13,000
Save Per Month
$1,083
to fill gap in 12 months
Savings Progress
27.8% funded
Monthly Expense Breakdown
Why You Need an Emergency Fund
An emergency fund is a cash reserve for unexpected expenses like job loss, medical bills, or car repairs. Most financial experts recommend saving 3-6 months of essential expenses, though some suggest up to 12 months for added security.
Where to Keep It
Keep your emergency fund in a high-yield savings account where it earns interest but remains easily accessible. Avoid tying it up in investments where you might take a loss when you need it most.
Take the Next Step
Now that you have the numbers, here are some ways to act on them.
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