Emergency Fund Calculator

How much should you be saving for an emergency fund? Use our easy emergency fund calculator to find out!

To get started, you’ll need to know your average monthly expenses. (Don’t include money you save or spend on luxury items–in other words, things that you would postpone if you lost your income). Learn more about why you need an emergency fund and how to build one here.

Emergency Fund Calculator
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About our emergency fund calculator

Financial experts are always saying that you should have “between three and nine” months’ of expenses saved in an emergency fund. OK, great. But which is it? If you need $2,000 a month to live, there’s a big difference between saving $6,000 and $18,000!

How much do you really need in an emergency fund?

Our take: It depends.

Everybody should have at least three months’ of expenses saved. That will cover most unpleasant surprises like a big car repair or trip to the emergency room. More is obviously better, but at some point you may want to use additional savings put toward investing, debt, buying a home or another goal.

When deciding whether or not to save more in your emergency fund, you want to consider what would happen if you lost your job. Because that’s an emergency fund’s other big role: ensuring you have something to live on if your lose part or all of your income. That’s where our question comes in: The more difficult you rank your ability to find a new job, the more we suggest you save — up to a year’s worth of expenses if you think your income would be very difficult to replace.

Tools to build your emergency fund