An emergency fund is cash set aside for genuine surprises — job loss, medical bills, urgent repairs. The usual target is 3–6 months of essential expenses. This calculator finds your fund target, how much you still need, how many months your current savings cover, and a monthly plan to close the gap.
Reviewed: June 20, 2026 · Author: Naveen P N, Founder — AI Calculator · Verified against: standard emergency-fund guidance, recomputed in code.
How it's sized
Use only must-pay costs — rent or mortgage, food, utilities, insurance and minimum debt payments — not discretionary spending. Three months is a reasonable floor for stable dual incomes; six months or more suits variable income, single earners or anyone with dependents. Keep the fund in a separate, easy-access account so it's there when you need it and out of sight day to day.
Worked examples
$3,000/month, 6-month target, $5,000 saved:
$2,500/month, 3-month target, $9,000 saved:
$4,000/month, 6-month target, $0 saved:
The "months covered" figure is a quick gut check: current savings divided by monthly expenses. If it's already at or above your target months, you're set; if not, the monthly plan shows a steady path to close the gap within a year.
Frequently Asked Questions
3–6 months of essential expenses. At $3,000/month that's $9,000–$18,000.
Essential monthly expenses × months. $3,000 × 6 = $18,000.
Current savings ÷ monthly expenses. $5,000 ÷ $3,000 ≈ 1.7 months.
A separate, easy-access high-yield savings account — not invested in stocks.
Job loss, medical bills, essential repairs — not holidays or planned purchases.