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Emergency Fund Calculator
Determine how much you need in your emergency fund (3-6 months expenses)
Your Information
$
Include rent, utilities, food, insurance, etc.
Recommended: 3-6 months (salaried job, stable business)
$
💡 Emergency Fund Tips
- • Keep emergency fund in a high-yield savings account
- • Start with $1,000 if you're just beginning
- • Automate monthly transfers to build it faster
- • Only use for true emergencies (job loss, medical, urgent repairs)
- • Replenish immediately after using it
Your Emergency Fund Goal
Target Emergency Fund
$21,000
6 months × $3,500
Current Progress
$5,00024%
Still Need to Save
$16,000
Time to Goal at Different Savings Rates:
$200/month80 months
$500/month32 months
$1,000/month16 months
📊 Recommendation
You're making progress. Aim to save at least 10-20% of your income toward this goal.
🎯 Milestones
✓
Starter Fund$1,000
2
3 Months$10,500
3
6 Months (Recommended)$21,000
How the Emergency Fund Calculator Works
An emergency fund is money set aside to cover unexpected expenses like job loss, medical emergencies, or urgent home/car repairs.
Guidelines:
- • Stable Income: 3-6 months of expenses (salaried jobs, dual income households)
- • Unstable Income: 6-12 months of expenses (self-employed, freelancers, single income)
- • Target Fund = Monthly Expenses × Months to Cover
- • Keep in a high-yield savings account for easy access
Build your emergency fund before aggressive investing or paying extra on low-interest debt. This safety net prevents you from going into debt when unexpected expenses arise.