Emergency Fund Calculator

Enter your monthly expenses. See exactly how much you need saved to survive 3, 6, or 12 months without income.

A common guideline is 3 to 6 months of essential expenses (FINRA).

Monthly expenses

Months of coverage

Your emergency fund target

$7,500

If your income stopped tomorrow, $7,500 would keep you afloat for 3 months. No debt, no panic, no asking anyone for help.

Without it, one car repair or medical bill could cost you months of recovery.

Starter milestone

$1,000

Full target

$7,500

What is an emergency fund?

Money you set aside for things you didn't see coming. A job loss, a medical bill, a car that breaks down. The stuff that turns a bad week into a bad year if you're not ready.

Without one, a single surprise expense can put you into debt or set you months behind. With one, you handle it and move on.

How much emergency fund do you need?

3 to 6 months of essential living expenses. Rent, utilities, groceries, insurance, transportation, minimum debt payments. Not your full income. Just what you need to get by.

Stable job with predictable income? 3 months may be enough. Self-employed, freelancing, or supporting dependents? Aim for 6 to 12 months. If you're unsure whether a purchase fits your budget, try our Can I Afford This? calculator.

Why 3 to 6 months of expenses?

It's not random. Finding a new job can take months. Medical recovery can take just as long. Major repairs can come in waves.

Three months gives you a real buffer. Six months lets you be picky. You can wait for the right job instead of taking the first thing that comes along.

The #1 mistake: waiting until you need it

Fewer than half of Americans (47%) say they could cover a $1,000 emergency expense, and only 30% say they would pay it from savings (Bankrate survey, January 2026). People without a fund find out when the emergency hits. Then it's credit cards, loans, or calling family. Not having one can cost more than building one.

Frequently asked questions

How much emergency fund do I need?

A common guideline is 3 to 6 months of essential expenses (FINRA). Use the calculator above to get your number based on what you actually spend. Start with 3 months and build from there.

Is $1,000 enough for an emergency fund?

It can cover a small emergency, like a minor car repair or a medical copay. But it won't cover a job loss. Think of $1,000 as your first milestone, not the finish line.