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Money & Finance · Free tool

Emergency Fund Calculator

How big should your emergency fund be, and how fast can you reach it? Enter monthly expenses and savings rate to see.

Updated April 2026

Required monthly deposit

$776

You’ll end up with ~$9,807 after 12 months at 4% APY.

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What it does

An emergency fund calculator. The first question: how big should your emergency fund actually be? Standard guidance says 3-6 months of essential expenses (rent/mortgage, utilities, groceries, insurance, minimum debt payments). Self-employed or single-income households lean toward 6-12 months. Dual-income households with stable jobs can lean toward 3 months.

The second question: how fast can you get there? Enter your target amount, how much you’ve already saved, and your monthly savings rate. The calculator shows the timeline plus the interest you’ll earn at current high-yield savings rates. Pair with our emergency fund guide.

Example input & output

Input

Essential monthly expenses: $4,000
Target: 6 months = $24,000
Starting balance: $3,000
HYSA APY: 4%
Timeline: 24 months

Output

Required monthly deposit: ~$820
Total saved in 24 months: ~$24,800 (including interest)

The HYSA interest covers about half a month of deposits over 24 months — not huge, but better than 0%.

How to use it

  1. Calculate your essential monthly expenses.
  2. Multiply by 3, 6, or 12 to get your target.
  3. Enter that target as the goal amount.
  4. Enter current savings balance and HYSA APY.
  5. Read the monthly deposit needed to reach the goal by your date.

When to use this tool

  • When starting an emergency fund.
  • When rebuilding after an emergency depleted savings.
  • When switching to self-employment or a less stable income.

When not to use it

  • For long-term savings — money beyond the emergency fund should be invested, not kept in cash.

Common use cases

  • Building a first emergency fund from zero.
  • Sizing a fund around a specific risk (job loss, medical, house repair).
  • Comparing a 3-month vs 6-month target timeline.

Frequently asked questions

Where should I keep my emergency fund?
In a high-yield savings account (HYSA) at an FDIC-insured bank. Instant access, meaningful interest (typically 4% in 2026), zero risk.
Should I invest my emergency fund?
No. The point is it’s available when something goes wrong — exactly when investments are most likely to be down.