Emergency Fund Calculator
Determine how much cash you should keep liquid for unexpected expenses
Why You Need an Emergency Fund
An emergency fund is money set aside to cover unexpected expenses like medical bills, car repairs, or job loss. Having liquid cash prevents you from tapping retirement accounts (which incur penalties and taxes) or relying on high-interest credit cards.
Best Practice: Keep your emergency fund in a high-yield savings account separate from your regular checking account.
Your Monthly Essential Expenses
Your Emergency Fund Targets
Based on your monthly expenses, here's how much you should save:
Minimum Safety Net
For stable income + safety net
Standard Cushion
Recommended for most households
Maximum Protection
For variable income or extra security
Emergency Fund Guidelines
Minimum recommended for those with stable income, dual-income households, or existing financial safety nets (family support, disability insurance, etc.).
Standard recommendation for most households, especially those with children, mortgages, or single-income families. This is the sweet spot between security and liquidity.
Recommended for freelancers, contractors, commissioned salespeople, or anyone with variable income. Also provides maximum protection in the current high-interest environment without tying up too much capital that could be invested for growth.