Emergency Fund Calculator

2 min

Estimate how much emergency savings you may need and how long they’ll last.

GlobalNo account required

Your 4-month fund

$15,520

Essentials run $3,880 a month. You have $6,000 set aside, which covers 1.5 months.

$9,520 to go

At $400 a month you close the gap in 24 months.

Reaching the 3-month floor of $11,640 is the first milestone.

What a month of essentials costs

Housing$1,90049%
Utilities$2506%
Groceries$70018%
Transportation$3008%
Insurance$1805%
Debt payments$3509%
Other essentials$2005%

Where you stand

You are covered for 1.5 months$6,000
4-month target$15,520

Still to save$9,520

Why 4 months

Your target is built from your situation, not a generic rule.

3 months as a base for stable employment income

1 more for 1 dependant

Milestones

One month of essentials$3,880

Three months (the floor)$11,640

4 months (your target)$15,520

Time to target at your contribution24 months

Estimates are based on the information and assumptions you provide and are for educational purposes only. This is not financial, tax, legal or lending advice.

What this means

Your target is 4 months: 3 months as a base for stable employment income, 1 more for 1 dependant.
At $400 a month you close the $9,520 gap in 24 months.
An emergency fund buys time, not returns. Its job is to keep a job loss or a furnace failure off a credit card.

Set this up as a savings goal

Assumptions & methodology

Only essential expenses are counted. Discretionary spending would likely be cut during an emergency.
The fund is held in cash, so no investment return is assumed.
Emergency savings are kept separate from other savings goals.

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