Find out how large your emergency fund should be, based on your essential monthly expenses.
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Your Emergency Fund Target
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Amount Still Needed—
Formula
Target Fund = Essential Monthly Expenses × Number of Months of Coverage.
Example
Essential expenses of $3,000 per month with a 6 month target means a $18,000 emergency fund goal.
Not tax or financial advice. This calculator provides general estimates based on published 2026 figures. Always confirm important figures with the IRS, SSA, your state tax agency, a licensed lender, or a qualified professional.
Frequently Asked Questions
How many months of expenses should I save?
A common guideline is 3 to 6 months of essential expenses, though those with less stable income sometimes target more.
Where should I keep an emergency fund?
Typically in a liquid, low-risk account such as a high-yield savings account, so it is accessible without penalty when needed.