Emergency fund calculator
How many months of expenses to set aside.
Put this calculator on your site
Get it as a ready-made Gravity Forms template. Import it, match your colors, publish.
- Import-ready form file
- Step-by-step build guide
- Works with any theme
How it's calculated
An emergency fund covers the bills that keep coming when income stops, so it is built from essential expenses only: housing, utilities, food, transport, insurance and minimum debt payments, not the full budget. Multiply that monthly figure by the months of cover you want, three to twelve depending on how steady your income is and how many people depend on it. Subtract what you have saved for the gap, and divide by what you can put aside each month for how long it takes.
How many months should an emergency fund cover?
Three months if you have two steady incomes and no dependants; six is the common recommendation; nine to twelve if you are self-employed, on commission, the sole earner, or in a field where a job search takes a long time. Start with one month, which already handles most car repairs and medical bills.
Where should I keep it?
A high-yield savings account or money market account at a different bank from your checking: insured, earning interest, available within a day, and out of sight. Not in stocks, which can be down when you need them, and not in a CD with a penalty.
Should I save this before paying off debt?
Build a starter fund of about one month first, so a surprise does not go on the card. Then attack high-interest debt, and grow the fund to the full target once the expensive debt is gone. Keep making minimum payments throughout; they are in the expenses for that reason.
Results are estimates for informational purposes only and are not financial, medical or legal advice.