Emergency fund calculator

How much to set aside for the unexpected, how much is still missing, and the month you’ll get there.

Your emergency fund target

$9,000

3 months of essential costs

$7,000 to go
Reached in September 2028

Aim for $9,000: 3 months of your essential costs. Saving $300 a month, you’ll get there in 24 months, in September 2028.

You already have $2,000: 22% of the way there.

Your target

Already saved$2,00022%
Still to save$7,00078%

I’m not an accountant or a financial advisor. This is an estimate, for information only. Check with a professional before you decide.

Your numbers

example: change the numbers

Currency

This changes the symbol and the examples. It does not convert your numbers.

Monthly essential costs

What you can’t skip: rent or mortgage, utilities, groceries, transportation, insurance and minimum debt payments.

Type of work

The less predictable your income, the bigger the cushion.

Steady job3 monthsContract or temporary6 monthsSelf-employed9 months

The only income in your household?

If yours is the only paycheck in the household, the target adds 2 months.

YesNo

Already saved

Money set aside for emergencies that you could use tomorrow.

What you can save each month

Even a small amount counts. Try a few different amounts.

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The milestones, month by month
Milestone	Amount	Reached
1 month of costs	$3,000	January 2027
2 months of costs	$6,000	November 2027
3 months of costs	$9,000	September 2028

How it works

Add up one month of essential costs: what you’d still have to pay if your income stopped tomorrow, such as housing, utilities, food, transportation, insurance and minimum debt payments.
Multiply by the months that fit your work: 3 with a steady job, 6 on contract or temporary work, 9 if you’re self-employed, plus 2 if yours is the only income in your household. The less predictable your income, the bigger the cushion. These counts are this calculator’s rule of thumb, built around the common three-to-six-month guideline.
Subtract what you’ve already saved: that’s what’s missing. Divide it by what you can put away each month and round up. That’s how many months it takes, and the calendar gives you the month you’ll get there.

Worked example

$3,000 of essential costs a month and a steady job: 3 months, so a $9,000 target. You have $2,000 saved, so $7,000 is missing. At $300 a month, $7,000 ÷ $300 = 23.3, rounded up to 24 months: starting in September 2026, you get there in September 2028. On contract work, the target would be $18,000; if you’re self-employed, $27,000.

Sources

Text checked on September 30, 2026

Good to know

The month counts are a rule of thumb, not a rule. Health costs, an older car, children or a single income can call for more; very steady income and good insurance may need less.
Count only essential costs: the point is to cover what you can’t cut if your income stops, not your usual spending.
Interest isn’t counted. A savings account pays some, so you may get there a little sooner.
Any amount helps. As the CFPB puts it, even a small amount can give you some financial security, and a recurring transfer to savings keeps it growing.

Frequently asked questions

How many months of expenses should I save?

The usual guideline is three to six months of essential costs; that’s how MoneyHelper, the UK’s government-backed money service, puts it. This calculator picks a number within, or just beyond, that range depending on how steady your income is: 3 months for a steady job, 6 for contract work, 9 if you’re self-employed, and 2 more if you’re the only earner at home.

Where should I keep my emergency fund?

Somewhere safe that you can reach quickly. MoneyHelper suggests an instant access savings account; the CFPB calls a bank or credit union account one of the safest places for your money. In the US, deposits are insured to at least $250,000 at each FDIC-insured bank; in the UK, the FSCS protects up to £120,000 per person, per bank.

What counts as an emergency?

Something unplanned that you have to pay for: losing your income, a medical bill, an urgent car or home repair. Those are the examples the CFPB gives. A sale or a vacation isn’t one.

How many people have an emergency fund?

In the Federal Reserve’s survey of US households in 2025, 55% of adults said they had three months of expenses set aside in an emergency or rainy day fund, and 63% would cover a surprise $400 expense with cash or its equivalent.

What if I can only save a little?

Start anyway, then look at the date above and try a little more each month. Recurring transfers to savings and putting part of a tax refund aside are two ways the CFPB suggests to build the fund faster.