Emergency fund calculator
An emergency fund covers your essential costs if income stops or a surprise bill arrives. Enter your costs and savings to see the target and the gap.
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How to use it
- Enter essential monthly costs, months of cover, saved so far and monthly saving.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Target = essential monthly costs × months of cover. Shortfall = target − current savings (not below zero). Months to goal = shortfall ÷ monthly saving, rounded up.
Example
Inputs: Essential monthly costs = 8,000, Months of cover = 6 months, Saved so far = 10,000, Monthly saving = 2,000. Result: Emergency fund target: 48,000.00; Shortfall: 38,000.00; Current cover: 1.3 months.
Limits and caveats
- Enter essential costs only, not all spending, since the fund covers necessities.
- No interest on the saved money is included.
Questions about this tool
How many months is enough?
The usual guideline is 3 to 6 months. Choose longer if your income is irregular or you are the only earner.
Where should I keep it?
In a separate savings account you can reach quickly, away from volatile investments and your everyday account.
Should I pay off debt or build the fund first?
Many people build a small fund first, then speed up debt payments, then finish the fund so a surprise bill does not mean new borrowing.