Emergency Fund Calculator
How much do you need in your emergency fund? Enter your essential monthly expenses to find your target and how long it'll take to get there.
Monthly essential expenses
Monthly essentials
$2,750
Target fund size
$16,500
Still needed
$15,500
4y 4m
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How big should your emergency fund be?
Most financial experts recommend 3–6 months of essential living expenses. The right number for you depends on your job stability, income sources, and dependants. Freelancers, self-employed people, and single-income households should aim for 6–9 months.
The key word is "essential." Your emergency fund covers the expenses you absolutely need to survive — rent, food, utilities, transport, insurance. Not Netflix, gym memberships, or dining out. This is why the number is often smaller than people expect.
Where to keep it
Your emergency fund should be liquid and accessible — not invested in the stock market. A high-yield savings account (HYSA) is ideal. It earns meaningful interest (4–5% in 2024) while remaining accessible the same or next business day. Don't tie it up in a CD with early withdrawal penalties.