Emergency Fund Calculator
How much should you have in your emergency fund? This calculator shows your ideal target based on expenses, income stability, and risk tolerance — plus how long to build it.
Emergency Fund Calculator
Determine how much you need and how to get there
$5,000 of $27,000 saved (9 months of expenses)
Emergency funds cover essential expenses during income disruption. Freelancers need larger funds due to income variability. Target 3-9 months based on job security and risk tolerance. Keep emergency funds in a high yield savings account for easy access.
Frequently Asked Questions
How much should I have in my emergency fund?+
Standard: 3-6 months of essential expenses. Freelancers/self-employed: 6-9 months (irregular income, no unemployment insurance). Homeowners: add an extra month (unexpected repairs). Single income households: 6-9 months. Dual income: 3-6 months.
Where should I keep my emergency fund?+
High-yield savings account (4-5% APY currently). Not investments (too volatile), not checking (earns nothing), not CDs (locked up). Split between: (1) $1,000 in checking for immediate needs. (2) Rest in HYSA for quick access within 1-2 days.
How long does it take to build an emergency fund?+
At $500/month savings: $1,000 starter fund in 2 months. $10,000 (3 months expenses) in 20 months. $20,000 (6 months) in 40 months. Accelerate: sell unused items, temporary side gig, or reduce one major expense (subscription, dining out).
How much should I have in my emergency fund?
Standard: 3-6 months of essential expenses. Freelancers/self-employed: 6-9 months (irregular income, no unemployment insurance). Homeowners: add an extra month (unexpected repairs). Single income households: 6-9 months. Dual income: 3-6 months.