Emergency Fund Calculator

    Find out exactly how much to save for emergencies based on YOUR situation and risk factors.

    Your Financial Situation

    Tell us about your expenses and income stability

    💡 Why These Questions Matter

    Income stability: Variable income needs a larger buffer

    Dependents: More people = more emergency scenarios

    Homeownership: Repairs and maintenance can be costly

    Your Emergency Fund Plan

    Recommended savings breakdown

    Protection Level
    Minimal
    0 months coverage
    Monthly Expenses
    $3,000
    Essential costs only
    Time to Goal
    0 months
    At $200/month

    What Your Fund Covers

    • • Job loss or income reduction
    • • Medical emergencies and co-pays
    • • Major home or car repairs
    • • Unexpected travel (family emergency)
    • • Essential appliance replacement

    Savings Milestones

    $1,000 Starter Fund
    Covers small emergencies
    â—‹
    3 Months Coverage
    $9,000
    â—‹
    6 Months Coverage
    $18,000
    â—‹
    Your Goal: 0 Months
    $0
    🎯

    Your Emergency Fund Goal

    $0
    0 months of expenses
    Based on your situation
    Stable income

    Timeline to Goal

    Monthly savings:$200
    Months to goal:0 months
    Goal date:Nov 2025

    Recommended Challenge

    52-Week Challenge - save $1,378 in a year

    Building Your Fund

    1.Start with $1,000 mini emergency fund
    2.Keep in high-yield savings account
    3.Automate monthly transfers on payday
    4.Only use for true emergencies

    Emergency Fund FAQs

    How much should be in an emergency fund?

    Most experts recommend 3-6 months of essential expenses. However, this varies based on income stability, dependents, and homeownership. Freelancers should aim for 6-12 months, while stable W-2 employees can start with 3 months.

    Where should I keep my emergency fund?

    Keep emergency funds in a high-yield savings account - accessible but separate from your checking account. This provides liquidity (can access quickly) while earning interest. Avoid stocks or CDs that penalize early withdrawal.

    What counts as an emergency?

    True emergencies: job loss, medical bills, essential home/car repairs, urgent family travel. NOT emergencies: sales, vacations, holiday gifts, routine expenses. If it's planned or optional, it's not an emergency.

    Start Building Your Safety Net Today

    Turn your $0 goal into reality with a structured savings challenge