Emergency Fund Calculator

Written byOleh Soloninupdated 27 September 2026

Currency

Expenses a month

Months of cover

Saved already

You put aside a month

Savings account rate, %

Advanced options

Income a month

Shows what share of your income you put aside.

Build it within, months

For the monthly amount needed to reach the target by then.

Result

Target

$21,000.00

Still to save

$16,000.00

Months to the target

Built in

3 years 4 months

Without interest it would take

3 years 4 months

Months covered right now

1.4

Of that, interest

$162.92

Put aside to build it in time

$1,329.43

Working

Target: 3,500.00 × 6 = 21,000.00 Still to save: 21,000.00 − 5,000.00 = 16,000.00 Without interest: 16,000.00 ÷ 400.00 = 40 → 40 months

Saving plan

  Year         Paid in         Balance  Months covered
     1        4,800.00        9,827.40             2.8
     2        9,600.00       14,673.18             4.2
     3       14,400.00       19,537.40             5.6
   3+4       16,000.00       21,162.92               6

This result is informational only and is not professional advice.

The fund measured in months of expenses, and how long it takes to build

How big an emergency fund your expenses call for, how long it takes to build at your monthly saving with and without interest, how much to put aside to finish by a set month, a month-by-month plan, and where to keep the money.

An emergency fund is money set aside for a lost income, an illness or an urgent repair. Its size is counted in months of expenses: monthly expenses × number of months. The calculator works out that target, how many months your savings already cover, and how long the rest takes at your monthly saving and savings account rate.

If you have a deadline, enter the number of months and it works out the monthly amount needed. The saving plan shows the balance month by month and how many months of expenses it covers at each step.

How to use

Enter your monthly expenses: the essentials and anything you would not want to give up in a hard month.
Choose how many months the fund should cover: tap 3, 6 or 12, or type your own.
Enter what you have saved, what you put aside each month and your savings account rate.
In the extra settings you can add your income and the number of months you want to build the fund in.
Read the target, the time needed, the Working lines and the saving plan.

How big the fund needs to be

Size = monthly expenses × months of cover. The number of months is your call: think about how long it could take to replace your income, and how many people depend on it. The table shows the target for common levels of spending.

Fund size. Worked out with this calculator.
Monthly expenses	3 months	6 months	12 months
2,000	6,000	12,000	24,000
3,500	10,500	21,000	42,000
5,000	15,000	30,000	60,000
8,000	24,000	48,000	96,000

How long it takes to build

With 3,500 of monthly expenses and six months of cover, the target is 21,000. With 5,000 already saved, 16,000 is left. Putting aside 400 a month, it takes 3 years 4 months, and at the FDIC's national average savings rate of 0.38% (August 2026) interest adds only 162.92. At 4% the same fund would be ready a quarter of a year sooner, in 3 years 1 month, with 1,578.68 of interest.

Starting from nothing, the monthly amount matters far more than the rate at those levels:

A 21,000 target with nothing saved, interest added monthly. Worked out with this calculator.
Saved each month	No interest	At 0.38%	Interest
200	8 years 9 months	8 years 8 months	342.89
400	4 years 5 months	4 years 5 months	175.49
600	2 years 11 months	2 years 11 months	113.44
1,000	1 year 9 months	1 year 9 months	66.63

How much to save to finish by a deadline

Enter the number of months in the extra settings and the calculator works out the monthly amount. To reach 21,000 in 12 months from 5,000 at 0.38%, you need to put aside 1,329.43 a month. Add your income and it shows the share you are saving: 400 of 4,500 is 8.9%.

Where to keep an emergency fund

The money needs to be safe and quick to reach. In the US, the FDIC insures deposits up to $250,000 per depositor, per FDIC-insured bank, for each account ownership category. Money kept as cash earns no interest, and money in investments can fall in value just when you need it.

What this calculator shows

The fund target and how much is still to save
How long it takes at your monthly saving, with and without interest
How many months your savings already cover
The monthly amount needed to finish by a deadline, and the share of income
A saving plan by month or year

What to keep in mind

Interest is added monthly to the balance, as in a savings account; the monthly amount goes in at the end of each month and stays the same.
Expenses are treated as constant; recalculate when they change.
Tax on interest is not included.

Where the numbers come from

Checked against FDIC national savings rate (August 2026) and FDIC deposit insurance rules · verified September 2026.

FAQs

How do I work out how big my emergency fund should be?

Multiply your monthly expenses by the months of cover you want: 3,500 × 6 = 21,000. Include the essentials and anything you would not give up in a hard month.

How long will it take to build an emergency fund?

It depends on the monthly amount and the rate. 16,000 at 400 a month takes 3 years 4 months at 0.38%, or 3 years 1 month at 4%.

How much should I save each month for an emergency fund?

Enough to finish by your deadline. Reaching 21,000 in 12 months from 5,000 at 0.38% takes 1,329.43 a month; set the number of months in the extra settings.

How many months do my current savings cover?

Divide savings by monthly expenses: 5,000 ÷ 3,500 = 1.4 months. The calculator shows it as months covered right now, and the saving plan tracks it month by month.

Does interest make much difference?

Only at higher rates or longer periods. At 0.38%, building 21,000 from nothing at 400 a month earns 175.49 of interest and saves no time; the monthly amount matters far more.

Where should I keep my emergency fund?

Somewhere safe and quick to reach, such as an insured savings account. In the US the FDIC insures deposits up to $250,000 per depositor, per bank, for each ownership category.

Worked example

Six months of cover

Input: Expenses 3,500 a month, 6 months, 5,000 saved, 400 a month, 0.38%

Output: Target 21,000; built in 40 months, with 162.92 of interest

Note: To finish in 12 months instead, put aside 1,329.43 a month.

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