How much should I have in an emergency fund?

A common guideline is three to six months of essential expenses, and up to twelve months if your income is variable or your job is less secure. This calculator totals your essential monthly costs and shows 3-, 6- and 12-month targets so you can pick the right cushion.

What counts as an essential expense?

Essentials are the costs you can't easily cut: housing, food, transportation, utilities, insurance, and other must-pay bills. Discretionary spending like dining out and entertainment is usually excluded, since you'd trim it during an emergency.

Where should I keep my emergency fund?

Keep it somewhere safe and accessible, such as a high-yield savings account (HYSA). It should not be invested in the stock market, because you may need it exactly when markets are down. The calculator factors in HYSA interest as your balance grows.

Emergency Fund Calculator — How Much Should You Save?

How to use this emergency fund calculator

Enter your essential monthly costs — housing, food, transportation, utilities, insurance and other must-pay bills. Then add your current savings, your monthly contribution, and your HYSA rate. You'll see your targets, your progress, and a timeline to a fully funded six-month cushion.

How big should your fund be?

3 months — a solid starting goal, especially with stable dual income.
6 months — the common recommendation for most households.
12 months — sensible if your income is variable or your job is less secure.

Keep it safe and accessible. An emergency fund belongs in a high-yield savings account, not the stock market — you may need it exactly when markets are down. The calculator includes HYSA interest as your balance grows.

Frequently asked questions

How much should I save?

Typically 3–6 months of essential expenses, up to 12 if your income is variable. The calculator shows all three targets.

What counts as essential?

Housing, food, transport, utilities, insurance and other must-pay bills — not discretionary spending you'd cut in a pinch.

Where should I keep it?

In a safe, accessible high-yield savings account — not invested, since you may need it during a downturn.

Related calculators & guides

This calculator is for educational and planning purposes only and provides estimates, not financial advice. See how we calculate.

Emergency fund calculator