An emergency fund target is monthly expenses times the months of cover you want: at 2,000 a month for 6 months the target is 12,000; with 5,000 saved you still need 7,000 and are 2.5 months covered.
Estimates for information only — not financial advice. Actual terms, fees, and rates depend on your provider.
Enter your monthly expenses, how many months of cover you want (commonly three to six), and your current savings. The calculator returns your target fund, the shortfall still to save, and how many months your current savings already cover.
Formula & methodology
Target fund = monthly expenses × months of cover
Shortfall = target − current savings (never below zero)
Months covered = current savings ÷ monthly expenses
Base monthly expenses on essential spending you would still face in a job loss or emergency — housing, food, utilities, insurance, minimum debt payments — rather than total spending. A three-to-six-month range is a common starting point; adjust to your own job stability and dependents.
How many months to hold is a personal judgement about income stability, dependents, and access to other resources — this tool computes the arithmetic once you decide. It is an information aid, not financial advice.
Frequently asked questions
How many months of expenses should an emergency fund cover?
A common starting range is three to six months of essential expenses, with more for variable or single incomes and fewer for very stable, dual-income households. There is no single right number — the calculator lets you set the months and shows the target and shortfall for your choice.
Should I count all my spending or just essentials?
Base the fund on essential expenses you could not pause in an emergency — housing, food, utilities, insurance, and minimum debt payments. Discretionary spending can be cut in a real emergency, so including it inflates the target beyond what the fund needs to protect.
