Free emergency fund calculator
An emergency fund is money set aside for surprises such as a job loss, a car repair or a medical bill. Add up your essential monthly costs, choose how many months you want to cover, and see how far you are and how long it takes to get there.
Your essential monthly costs
Your goal and progress
Free, no sign-up. Everything is worked out in your browser: nothing you type is sent or stored.
How big should an emergency fund be?
The usual guidance is three to six months of essential expenses: the bills you must keep paying even with no income, such as housing, food, utilities, insurance, transportation and minimum debt payments. It is not your whole lifestyle budget, which is why this calculator asks only for essentials.
Aim for more, nine to twelve months, if your income is irregular, you are self-employed, you are the only earner in your household or your job is hard to replace. Aim for less if you have a very stable job, a partner with a secure income and low costs.
Frequently asked questions
Should I build an emergency fund or pay off debt first?
Many people build a small starter fund first, so a surprise does not go on a credit card, then pay down high-interest debt, then grow the fund to the full target.
Should I count my whole budget or just essentials?
Essentials only. In a real emergency you can cut dining out, subscriptions and shopping. Use the budget calculator to see how much of your spending is essential.
Where should I keep my emergency fund?
In a safe, easy-to-reach account such as a high-interest savings account, separate from the account you use every day.
Read the guides
Track the real numbers
In Budget Dashboard you can add an emergency fund as a savings goal and see your real monthly savings from your bank transactions. It is free and your data stays in your browser.
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These calculators give estimates for planning and learning. They are not financial, tax or legal advice, and real lenders, banks and tax rules can differ. Check the numbers with your lender or a qualified professional before you decide.
Published by Budget Dashboard. Questions or corrections? Contact us.