Emergency Fund Calculator - How Much to Save & How Long It Takes
Emergency Fund Calculator
Set your safety-net target and see when you will reach it
A Clear Target
Multiply your essential monthly costs by the months of cover you want, typically 3 to 12, to get a concrete number.
A Date to Aim For
See how many months it takes at your current saving rate, with interest included, and the month you should get there.
Progress at a Glance
A progress bar and the number of months of expenses you already have covered show where you stand today.
Full Privacy
Your figures never leave your browser.
How Big Should an Emergency Fund Be?
The common rule is three to six months of essential expenses: the costs you cannot skip, such as housing, food, utilities, insurance and minimum debt payments. Aim for the higher end, or beyond, if you have one income, variable pay, dependants, or a job that would be hard to replace quickly. With $3,000 of monthly essentials and six months of cover, the target is $18,000.
Keep the fund somewhere safe and easy to reach, such as a savings account, rather than in investments that can fall when you need the money. The time estimate assumes a deposit at the end of each month and interest compounded monthly at the rate you enter; your bank's actual terms may differ slightly.
Key Takeaways
- Interest included: Compounding shortens the time compared with simple division.
- Honest results: Says so when the goal cannot be reached with a zero contribution.
- Verified maths: The month count is checked against a month-by-month balance.