How this calculator works & sources ↓
Work out how big your emergency fund should be, based on your essential monthly costs, and how long it'll take to build.
Switching region updates the currency and swaps in typical starting figures for that country — every number stays fully editable.
Work out how big your safety net should be, based on your essential monthly costs, and how long it'll take to build.
Want to turn this into a full plan? Grab the free Budgeting Checklist — a checklist plus 3 worksheets to put these numbers to work.
Get the free checklist →A common guideline is 3-6 months of essential expenses, though people with variable income or dependants often aim for 6-12 months.
Focus on essential monthly costs — housing, utilities, food, insurance, minimum debt payments — rather than discretionary spending, since this fund exists to cover necessities if your income stops.
Most people keep it in an easily accessible savings account rather than investments, since the priority is being able to reach it quickly without risk of loss.
Grab the free Budgeting Checklist below — a checklist plus 3 fill-in worksheets, delivered straight to your inbox.
Divides the savings target by your chosen monthly essential spending to show an illustrative number of months of cover. No official minimum is assumed.
Sources and further reading: Uses the inputs you provide and the calculation assumptions described above.