Emergency Fund Calculator
Determine the optimal size for your emergency fund based on your personal financial situation, job stability, and risk tolerance to protect yourself from unexpected expenses.
Your Financial Information
Your Emergency Fund Status
You're on the right track, keep saving!
Progress to Goal56%
$5,000
Current Savings
$9,000
Recommended Goal
2 months
Time to Goal
Emergency Fund Recommendations
Minimum
$6,000
2 months expenses
Conservative minimum
Recommended
$9,000
3 months expenses
Optimal for your situation
Maximum
$18,000
6 months expenses
Maximum security
Personalized Factors Considered:
• Job stability: medium
• Dependents: 0
• Health insurance: Yes
• High-interest debt: No
• Risk tolerance: moderate
Understanding Emergency Funds
What is an Emergency Fund?
- Money set aside for unexpected expenses
- Should be easily accessible (savings account)
- Not for planned expenses or investments
- Provides financial security and peace of mind
- Prevents reliance on credit cards or loans
When to Use Your Emergency Fund
- Job loss or reduced income
- Major medical expenses
- Unexpected home or car repairs
- Family emergencies
- Natural disasters
Building Your Emergency Fund
Start small: Even $500-$1,000 can help with minor emergencies.
Automate savings: Set up automatic transfers to build your fund consistently.
Use windfalls: Tax refunds, bonuses, or gifts can jumpstart your emergency fund.
Separate account: Keep your emergency fund in a separate, easily accessible savings account.