50/30/20 Budget Calculator
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Emergency Fund Calculator
Find your target emergency fund from expenses and months of coverage.
Emergency fund target
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Recommended cushion.
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How the Emergency Fund Calculator Works
An emergency fund covers essential expenses if your income stops. Multiply your monthly essentials — housing, food, utilities, insurance, minimum debt payments — by the number of months you want to cover. Three to six months is the common guideline; six or more if your income is variable or a single earner supports the household. On $3,000 of monthly essentials, a six-month fund is $18,000.
Count only true essentials, not discretionary spending, so the target stays realistic. Keep the money somewhere safe and reachable, like a high-yield savings account — not invested, where a downturn could hit right when you need it.
target = monthly essential expenses × months of coverage
Frequently Asked Questions
How big should my emergency fund be?
Commonly three to six months of essential expenses. Lean toward six or more if your income is irregular or you’re the sole earner.
What counts as essential expenses?
The bills you can’t skip — rent or mortgage, food, utilities, insurance and minimum debt payments. Leave out dining out and other discretionary spending.
Where should I keep an emergency fund?
In a safe, liquid account such as a high-yield savings account, so it’s there instantly and isn’t exposed to market swings.
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