Emergency Fund Calculator
Calculate how much you should save for financial emergencies based on your personal situation and risk factors.
Your Financial Situation
Enter your monthly expenses and current savings to get a personalized recommendation
Include rent, utilities, food, insurance, minimum debt payments
Money set aside specifically for emergencies
Children, elderly parents, or others who depend on your income
How much you can save toward your emergency fund each month
What Counts as an Emergency?
✓ True Emergencies:
- • Job loss or income reduction
- • Major medical expenses
- • Essential home repairs (roof, plumbing)
- • Car repairs needed for work
- • Family emergencies
✗ Not Emergencies:
- • Vacations or travel
- • Holiday gifts
- • Home upgrades or renovations
- • Investment opportunities
- • Non-essential purchases
Emergency Fund Best Practices
- •Separate account: Keep emergency funds in a dedicated high-yield savings account
- •Easy access: Funds should be liquid and accessible within 24-48 hours
- •Don't invest: Emergency funds should be safe, not subject to market volatility
- •Automate savings: Set up automatic transfers to build your fund consistently
- •Replenish quickly: If you use emergency funds, prioritize rebuilding them