Emergency Fund Calculator
Use this free emergency fund calculator to find how much cash you should set aside for life's surprises, and see how close you already are.
Emergency Fund Calculator
An emergency fund is cash set aside for surprises like a job loss, medical bill or repair, so you never borrow in a crisis.
3 months is a solid start; 6 months is the classic goal; aim higher if your income is irregular (e.g. freelancing or business).
How it works
An emergency fund is money kept in easy-to-reach savings for the unexpected, like a job loss, medical bill or urgent repair, so you never have to borrow at a bad time. The rule of thumb is 3 to 6 months of essential expenses (aim higher if your income is irregular). Build it before you invest aggressively. More in how to build an emergency fund and how to save on a low income.
Frequently asked questions
How big should my emergency fund be?
Most experts suggest 3-6 months of essential expenses. Use 3 as a starting goal and 6+ if your income is irregular, you support a family, or your job is less secure.
Where should I keep it?
In a safe, instantly-accessible account, not locked away or invested in stocks. The point is that it's there the moment you need it.
Emergency fund or invest first?
Build at least a small emergency fund first. Without one, a surprise expense can force you to sell investments at a bad time or take on debt.
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