Emergency fund calculator
How much cushion is enough? Enter what you spend each month on the essentials and how many months of cover you’d like. You’ll get a target, the gap to it, and how many months your savings cover today.
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How it works
- Enter your monthly essentials: housing, food, utilities, transport, insurance, minimum debt payments and anything else you can’t skip.
- Choose how many months of cover you want. Many people aim for three to six; your situation may call for more or less.
- Optionally enter what you’ve already set aside. The calculator multiplies, subtracts and shows the result straight away. Nothing you type leaves this page, and nothing is saved.
What your result means
The target is your monthly essentials multiplied by the months of cover you chose. The gap is the target minus what you have saved. “Months covered” is your savings divided by your monthly essentials.
It is arithmetic, not a recommendation. Your own circumstances (how stable your income is, how many people depend on it, what insurance you have) decide how much cushion makes sense.
Why months, not a fixed amount
An emergency fund exists to keep your essentials paid while income is interrupted. Thinking in months of essentials makes the target personal: the same number means very different things to two households.
This is a planning calculator, not financial advice. If you’re unsure what’s right for you, a qualified adviser can help.
Frequently asked questions
How many months should an emergency fund cover?
Three to six months of essential spending is a common starting point, but there is no single right answer. Less predictable income, dependants or limited insurance are common reasons people choose more. This calculator lets you try different numbers.
What counts as “essentials”?
Costs you would still need to pay if income stopped: housing, food, utilities, transport to work, insurance, minimum debt payments, medication and childcare. Leave out things you could pause, like subscriptions and dining out.
Is my information stored or sent anywhere?
No. The calculation happens in your browser and nothing you enter is saved, not even on this device. Closing or refreshing the page clears it.
Is this financial advice?
No. It is a planning calculator that does arithmetic on the numbers you give it. It can’t know your circumstances, so please treat the result as a starting point for your own decision.
Try another free tool
Turn the target into a Money goal
In BalanceIt you can save a target like this as a Money goal, break it into steps, and see it alongside the rest of your life. You choose what to keep; nothing is created automatically.