Free Emergency Fund Calculator: How Much You Need and How Fast
An emergency fund covers your must-pay costs if your income stops or a big surprise bill hits. A common target is 3 to 6 months of those costs. Enter what you'd still have to pay in a bad month below to see the targets, how many months you have covered now, and what to save each month to get there.
It runs in your browser. Nothing you type is saved or sent anywhere. The numbers filled in below are a made-up example; change them to yours.
Must-pay costs, $ a month:
How the math works
- Target = must-pay monthly costs × the number of months.
- Months covered now = what you've saved ÷ monthly must-pay costs.
- Per month = (target − saved) ÷ months to reach it.
Example (made up): $2,070 a month of must-pay costs makes a 3-month target of $6,210 and a 6-month target of $12,420. With $1,000 saved, reaching 3 months in a year takes about $434.17 a month.
If that's too much right now, a first goal of one month, or even $500 to $1,000, still covers a lot of surprises. Keep the fund somewhere separate and easy to reach. This is general information, not financial advice.
Save for it alongside other goals
The Sinking Funds Tracker ($5) is a spreadsheet for up to 20 savings goals at once (an emergency fund, car repairs, holidays, a trip) that shows how much to set aside per month and per paycheck to hit each date. Works in Excel and Google Sheets.
Get the tracker on Gumroad – $5
This template is also in the Complete Household Money Bundle (what's inside): all 13 home money spreadsheets for $29 (about $69 if bought one by one).
We make this template, so take that into account. The calculator above is free to use either way.
Related free guides
- Emergency Fund Basics: How Much to Save and How to Start
- How to Budget After a Job Loss (Bare-Bones Plan)
- Behind on Bills? How to Catch Up and What to Pay First
- How to Budget for Car Repairs and Maintenance
More free tools: all calculators.
See all Cedar & Ledger templates