Calculate how much emergency savings you need to create a financial safety net for unexpected expenses, job loss, or emergencies
Financial experts typically recommend saving 3-6 months of essential living expenses for your emergency fund [citation:4][citation:6]. The exact amount depends on:
Your emergency savings should be in a liquid, low-risk account that you can access quickly when needed. Consider:
Avoid keeping emergency funds in high-risk investments like stocks or cryptocurrency [citation:1].
Even saving a small amount regularly adds up over time. Automate transfers to your emergency fund each payday to build savings discipline [citation:1].
Direct tax refunds, bonuses, or gift money into your emergency fund to accelerate your progress [citation:1][citation:4].
Reassess your emergency fund needs after major life changes like marriage, having children, or buying a home [citation:1].
Periodically increase your emergency fund target to keep pace with rising living costs [citation:1].
This guideline helps determine how many months of expenses to save:
Explore our other free financial tools to better manage your finances:
Disclaimer: This emergency fund calculator provides estimates for educational and informational purposes only. The results are based on the information you provide and standard financial planning guidelines. We recommend consulting with a qualified financial advisor for personalized advice tailored to your specific financial situation. The calculator does not guarantee financial outcomes or account for all individual circumstances.