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Emergency Fund Calculator
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How it is calculated
- Target = essential monthly expenses × months of cover
- Months to goal: balance grows at APY ÷ 12 plus monthly saving
Projections are illustrations, not guarantees. Taxes and fees are not included unless stated.
FAQ
How much should an emergency fund be?
A common guideline is 3–6 months of essential expenses — rent or mortgage, food, utilities, insurance, minimum debt payments. Freelancers and single-income households often aim for 6–12 months.
Where should I keep my emergency fund?
Somewhere safe and instantly accessible, such as a high-yield savings or money-market account — not stocks, which can fall exactly when you need the money.
Should I pay off debt or build an emergency fund first?
Many planners suggest a starter fund of about $1,000 or one month of expenses first, then focus on high-interest debt, then finish the full fund.
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