Emergency Fund Calculator
See how close you are to a fully funded emergency fund and how many months your contributions need to finish it.
Personal-finance guidance says keep 3 to 9 months of expenses in liquid savings. Enter your monthly expenses, current savings, and monthly contribution to see your fund target, funding progress, shortfall, and the months remaining until your fund is complete.
How to use this calculator
- Step 1: Add up your essential monthly expenses.
- Step 2: Enter your current emergency savings.
- Step 3: Enter how much you can contribute each month.
- Step 4: Choose a 3, 6, or 9-month target and click Calculate.
The formula
Target = monthly expenses x target months; months to goal = (target - current savings) / monthly contribution
Worked example
With $4,200 in monthly expenses, a 6-month emergency fund target is $25,200. Starting from $10,000 saved (39.68% funded), contributing $600 per month closes the $15,200 shortfall in about 25.3 months.
Frequently Asked Questions
How much should I keep in an emergency fund?
Standard personal-finance guidance is 3 to 6 months of essential expenses in a liquid account, and up to 9 months if your income is variable or you are the sole earner. This calculator lets you pick the 3, 6, or 9-month target and shows exactly what that means in dollars.
Which expenses count toward the target?
Count essential monthly expenses: housing, utilities, food, insurance, transportation, minimum debt payments, and childcare. Skip discretionary spending like dining out and subscriptions you could cancel — the fund is meant to keep the lights on, not preserve your lifestyle.
Where should I keep my emergency fund?
In a liquid, low-risk account you can reach in days: a high-yield savings account or money market account. Avoid investing it in stocks or locking it in CDs — the point is instant availability, not maximum return.
What if I cannot contribute every month?
Enter 0 for your monthly contribution and the calculator shows your target, progress, and shortfall without a completion date. Even irregular contributions move the needle — windfalls like tax refunds and bonuses are a great way to fund it faster.