Emergency Fund Calculator
Find the target size of your emergency fund and how long it will take to save it.
How many months of cover to aim for
3 months suits a stable dual-income household; 6 months is the common general recommendation; 9–12 months suits freelance or single-income situations, or unstable industries. "Essential expenses" means rent, food, utilities, insurance, and minimum debt payments — not discretionary spending.
About the Emergency Fund Calculator
The Emergency Fund Calculator estimates how much money you should keep for unexpected events such as job loss, medical bills or urgent repairs, and how long it will take to reach that amount at your current saving rate.
The target is your essential monthly expenses multiplied by the number of months of cover you want. Many financial educators suggest three to six months for stable employment, and more for freelancers, single-income households or people with dependents. Essential expenses mean rent or EMI, food, utilities, insurance, transport and minimum debt payments, not discretionary spending.
How to use it
- Enter your essential monthly expenses.
- Choose how many months of cover you want.
- Enter what you have already saved and what you can add each month.
- Read the target amount and the number of months to reach it.
Tips and good to know
- Keep the fund in a safe, easily accessible account, not in volatile investments.
- Review the number whenever your expenses change.
- Start with a smaller first goal, such as one month, then build up.
Frequently asked questions
How many months should I aim for?
Three to six is a common range; your situation may justify more.
Should insurance count?
Insurance helps but does not replace cash for deductibles and gaps.
Is this financial advice?
No, it is a planning calculator.