Figure out how much to keep in an emergency fund based on what your life actually costs each month, then see how long it will take to get there.
This calculator gives estimates for learning and planning. It isn’t financial advice or a loan offer. Nothing you enter is saved or sent anywhere; the math runs in your browser.
How much should you save?
Three to six months of essential expenses is a common target, but there’s no single right number. The Consumer Financial Protection Bureau suggests basing your goal on your own situation, such as the unexpected costs you’ve had in the past, and says even a small amount set aside helps you recover faster.
- Start with one month. A starter fund covers most car repairs, medical bills, and short gaps between paychecks.
- Aim higher if your income is irregular (freelance, commission, seasonal work) or if you’re a single-income household.
- Count only essentials: housing, utilities, food, transportation, insurance, and minimum debt payments. In a real emergency you’d cut everything else.
Where to keep it
Keep emergency money somewhere you can reach quickly that won’t lose value, like a high-yield savings account at an FDIC-insured bank or NCUA-insured credit union. Keeping it separate from checking makes it less tempting to spend.
Related guides
- How to Build an Emergency Fund from Scratch
- Sinking Funds vs. Emergency Fund: When You Need Both
- What Is an Emergency Fund vs. an Investment Account
- Tips in Building Emergency Savings with Micro‑Deposits
- Emergency Fund Strategies for Freelancers