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Emergency Fund Calculator
Calculate how much emergency savings you need and track your progress
Your Information
$
Total monthly essential expenses
$
$
How much you can save each month
Target Emergency Fund
$18,000
6 months of expenses
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Current Savings
$5,000
27.78% complete
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Amount Needed
$13,000
To reach your goal
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Months to Goal
26 months
2.2 years
⏱️
Progress to Goal
Progress
27.78%
Monthly Expense Breakdown
Why You Need an Emergency Fund
An emergency fund is a financial safety net that covers unexpected expenses like medical bills, car repairs, or job loss. It prevents you from going into debt when emergencies arise.
Recommended Coverage
- 3 months: Minimum for stable employment and dual-income households
- 6 months: Recommended for most people (balanced protection)
- 9-12 months: Self-employed, single income, or unstable industry
Pro Tips
- Keep your emergency fund in a high-yield savings account for easy access
- Automate monthly transfers to build your fund consistently
- Only use it for true emergencies, not planned expenses
- Replenish immediately after using it
- Start small - even $500-$1,000 can help with minor emergencies