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Budget

Emergency Fund Calculator

Work out your emergency fund target, current shortfall, and months to reach it at your savings rate.

Inputs

Housing, utilities, food, insurance, minimum debt payments, whatever you'd still have to pay with no income.

Common guidance is 3-6 months; more if your income is variable or a single earner supports the household.

Result

Target emergency fund

$18,000.00

Current shortfall$13,000.00
Time to close the gap44 months

How the calculation works

Multiplies your essential monthly expenses, the bare minimum you'd need to keep paying with no income, by how many months of coverage you want, giving your target fund size. Subtracting your current savings from that shows your shortfall, and dividing the shortfall by how much you can contribute each month shows roughly how long it'll take to close the gap.

Formula

Target Fund = Essential Monthly Expenses × Months of Coverage. Shortfall = max(0, Target Fund − Current Savings). Months to Goal = Shortfall ÷ Monthly Contribution.

Examples

  • $3,000 essential expenses, 6 months coverage, $5,000 saved, $300/month

    $18,000.00 target, $13,000.00 shortfall, 44 months to close it

  • $4,000 essential expenses, 3 months coverage, $15,000 saved, $500/month

    $12,000.00 target, already fully funded

FAQ