Emergency Fund Calculator
Financial planners recommend 3–6 months of expenses in cash. This calculator sets your target, shows how much you already have covered, and how long it takes to close the gap.
How this calculator works
Your target is monthly expenses times the months of coverage you want — $24,000 for $4,000 of expenses and 6 months. The calculator subtracts your current savings, then works out how many months of contributions it takes to close the gap, including interest earned on a high-yield savings account. Interest is a nice bonus, but the contribution amount is what actually builds the fund, so the answer barely changes if rates drop.
Frequently asked questions
How many months should my emergency fund cover?
Three months is the minimum for most people; six is the standard recommendation. Single-income households, freelancers, and anyone in a volatile industry should aim higher — up to 12 months for irregular incomes.
Where should I keep an emergency fund?
A high-yield savings account or money market fund — liquid, FDIC-insured, and currently paying 3.5–5%. Do not put emergency money in stocks: a market downturn can shrink the fund exactly when you need it.
Should I pay off debt or build the emergency fund first?
Most advisors suggest a small starter fund (one month of expenses) first, then pay down high-interest debt, then grow the fund to 3–6 months. A cash buffer prevents new credit card debt when unexpected costs hit.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.