Emergency Fund Calculator: How Much Do You Need?
Base your emergency fund on what you must pay each month, not on your income. Then see how long it takes to get there.
What counts as an essential expense?
Rent or mortgage, utilities, groceries, insurance, transportation to work, minimum debt payments and childcare. Leave out things you could pause for a few months, like dining out or subscriptions.
Three months is a common starting target. People with irregular income, one income in the household, or a less stable job often aim for six or more. If saving three months feels out of reach, start with one. A small cushion still keeps a surprise bill off a credit card.
Read next: How much should be in your emergency fund?
Do the math once. Use it every month.
The Squared Roots Money Toolkit: a zero-based budget, net worth tracker, Snowball vs Avalanche debt planner and goals calculator, plus the 21-page Wealth on Any Income workbook.
See the toolkit, $27For education only. Results are estimates based on the numbers you enter and simple assumptions. Squared Roots Co. LLC is a financial coaching business, not a registered investment adviser, and this tool is not individual financial, investment, tax or legal advice. Nothing you type is saved or sent anywhere; it stays in your browser.