Emergency fund calculator: see how many months your savings cover, your 3–6 month target, and how long to close the gap with monthly contributions. Free, private.
How it works
Financial planners often suggest keeping three to six months of essential expenses in cash or a high-yield savings account—not invested in stocks you might need to sell in a downturn. Example: $3,500/month in essentials × 6 months = $21,000 target. If you already have $8,000 saved, you are about 38% of the way there; adding $400/month closes the $13,000 gap in roughly 33 months (before interest).
Frequently asked questions
How much emergency fund do I need?
A common rule is 3–6 months of essential expenses (housing, food, insurance, minimum debt payments)—not your full lifestyle spending. Freelancers or single-income households often aim closer to 6–12 months.
Should I pause investing to build emergency savings?
Many advisors suggest a small starter fund ($1,000–$2,000), then split extra cash between debt and investing until you hit one month of expenses, then prioritize the full 3–6 month fund before aggressive investing—especially if you have high-interest debt.
Where should I keep an emergency fund?
Keep it liquid: high-yield savings, money market, or similar insured cash accounts. The goal is access within days, not maximum long-term return.