Emergency Fund Calculator

About this calculator

This calculator multiplies essential monthly expenses (rent, food, utilities, insurance and minimum debt payments) by a target number of months — commonly 3 to 6 months, the range most financial advisors recommend — to set a savings goal for unexpected job loss or medical costs. Someone with unstable income or a single-earner household is often advised toward the higher end of that range, while a dual-income household with stable jobs can reasonably target the lower end.

It's used by anyone building a financial safety net before investing elsewhere, and by financial planners setting a concrete savings target for a client rather than a vague "save more" recommendation. Entering a current savings balance and monthly contribution also shows how many months it will take to reach the goal.