Find out exactly how much you should have in your emergency fund based on your expenses.
How much you should have saved for emergencies
This free calculator gives you instant, accurate results with no signup required. Use it to make smarter, more informed financial and life decisions.
Always double-check important financial decisions with a qualified professional. This calculator provides estimates for guidance purposes. Results may vary based on your specific circumstances.
The standard advice of "3-6 months of expenses" isn't one-size-fits-all. Your ideal emergency fund size depends heavily on job stability, household income sources, and dependents.
If you have a stable salaried job and a dual-income household, 3 months is often sufficient — a job loss is recoverable with a partner's income covering the gap. If you're self-employed, commission-based, or the sole income earner, 6-9 months provides meaningfully more security given less predictable income.
Where to keep this money matters too. It needs to be liquid and stable — a high-yield savings account, not invested in stocks. The goal isn't growth; it's availability exactly when you need it, without having to sell investments at a potential loss during a crisis.
Use the calculator above to find your specific target based on your real monthly expenses, then set up automatic transfers until you hit it. Once funded, resist the temptation to invest it for "better returns" — that defeats the entire purpose of an emergency fund.