Emergency Fund Calculator

Your emergency fund target is monthly expenses multiplied by the number of months you want covered.

Quick answer

Your emergency fund target is monthly expenses multiplied by the number of months you want covered. With the default inputs (Monthly expenses $3,200, Months 6, Current savings $4,500) the result is Target fund $19,200, Gap $14,700, Coverage now 1.41.

Method

Target fund = monthly expenses x months of coverage. Gap = target fund minus current savings (never below zero). Coverage now = current savings divided by monthly expenses, shown in months.

Choose the months of coverage that match your situation. Many planners cite three to six months of essential expenses as a starting point; a single income, irregular income or dependants usually argue for the longer end.

Worked example

Monthly expenses	$3,200
Months	6
Current savings	$4,500
Target fund	$19,200
Gap	$14,700
Coverage now	1.41

Assumptions and limits

Enter essential monthly expenses (housing, food, utilities, insurance, minimum debt payments), not your full lifestyle budget.
The calculator does not model investment returns or inflation on the savings balance.

Educational estimate only. It is not financial, tax, legal, or investment advice.

FAQ

How much should an emergency fund be?

A common rule of thumb is three to six months of essential expenses. With the default inputs ($3,200 a month for 6 months) the target is $19,200.

What counts as monthly expenses for this calculator?

Use the essential costs you must keep paying if income stops: housing, food, utilities, insurance, transport and minimum debt payments.

How is the gap calculated?

Gap = target fund minus current savings, never below zero. With the defaults it is $14,700.

What does "Coverage now" mean?

It is how many months of your monthly expenses your current savings would pay for. With the defaults it is 1.41 months.

Is my data stored?

No. The calculation runs in your browser and the inputs are not sent to or saved by this site.