Emergency Fund Calculator

How much should have set aside in your emergency fund? Use our calculator to determine how much you need and how long it will take to save for.
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For more ideas emergency funds check out our detailed article Building an Emergency Fund for Peace of Mind. It explains strategies to save towards your emergency fund, where to store your emergency fund, what you might use it for, and the all important question of how much money to put in it.

An emergency fund is there to keep you and your loved ones afloat financially not IF but WHEN a major problem comes up.

Financial advisors generally agree that building an emergency fund takes priority over any other forms of savings like retirement contributions or paying for a downpayment on a home. Without an emergency fund you are vulnerable to falling behind on payments (which incurs fees and wrecks your credit), losing your job (if your car breaks down and you can't fix it and therefore can't get to work), or possibly being foreclosed on or evicted. None of these are fun things to think about but being prepared can lead to better sleep at night. 

Field Summary:

  • Months of Coverage - how long your emergency fund would last.
  • Total Monthly Expenses - your monthly budget in "emergency mode" if you were to cut expenses to the bone.
    • or alternatively - an itemized list of budget items.
  • Current Size of Emergency Fund - the amount you currently have set aside in a "safe" place like a savings account.
  • Months to Build - your goal for how long until your emergency fund is fully funded.


DISCLAIMER: This calculator is provided for educational purposes and should not be considered financial or investment advice. We have checked the equations and code used and we think they are right. However, we offer you no guarantee of accuracy. If you find a bug please let us know so we can fix it for you!

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