Emergency Fund Calculator
Calculate how much you need in your emergency fund and how long it will take to reach your goal.
Calculator
Results
Target Emergency Fund
$18000.00
Amount Needed
$13000.00
Time to Reach Goal
26 months
Current: $5000Target: $18000.00
How It Works
The Emergency Fund Calculator helps you determine how much you should save for unexpected expenses and how long it will take to reach your goal. Here's how it works:
- Calculate the target emergency fund: Monthly Expenses × Months to Cover
- Determine the amount needed: Target Amount - Current Savings
- Estimate time to reach the goal:
- Start with your current savings
- Add monthly contributions
- Count months until the target is reached
The calculator takes into account your current savings and monthly contributions to give you a realistic timeline for building your emergency fund.
How to Use
- Enter your average monthly expenses.
- Select how many months of expenses you want your emergency fund to cover (typically 3-12 months).
- Input your current savings designated for emergencies.
- Specify how much you can contribute to your emergency fund each month.
- Review the results to see your target emergency fund amount, how much more you need to save, and how long it will take to reach your goal.
- Adjust your inputs to see how changes in your savings strategy affect your timeline.