Emergency Fund Calculator
Work out a target emergency fund from your essential monthly expenses, see how far your current savings go, and how many months of saving remain.
Emergency fund target
$13,200.00
Still needed
$9,200.00
Current savings cover
1.82 months
Time to reach the target
1y 11m
How this was worked out
- Step 1Target = 2,200 × 6 months = $13,200.00
- Step 2Gap = $13,200.00 − $4,000.00 = $9,200.00
- Step 3Months needed = $9,200.00 ÷ $400.00 = 23
Formula
Target = essential monthly expenses × months of cover
Example
Input
$2,200/month, 6 months, $4,000 saved
Result
Target $13,200; $9,200 to go
Frequently asked questions
Three months is a common minimum and six is a widely recommended target. Freelancers and sole earners often aim for nine to twelve.
Somewhere accessible and low risk, such as an easy-access savings account, rather than invested in volatile assets.
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