Emergency Fund Calculator
See how big your safety net should be and how long it will take to build it. Results update instantly.
Written and reviewed per our independent editorial methodology.
This free emergency fund calculator shows how much cash you should set aside for the unexpected, and how long it will take to save it. Enter your starting balance, what you add each month, your APY and a time frame, and the results update instantly, no sign-up required.
How this emergency fund calculator works
The calculator multiplies your monthly essential expenses by the months of coverage you want, then uses your current savings and monthly contribution to estimate how long the goal takes. The chart splits your total into what you put in versus interest earned, so you can see exactly how much the bank is paying you.
Your real return depends on the rate staying competitive. A national-average account and a high-yield account look identical on day one but drift worlds apart over a few years, which is why the APY you choose matters more than any other input.
How many months should an emergency fund cover?
Anything near the national average is leaving money on the table. If you are not sure what to aim for, start with our guide on how to choose a high-yield savings account and the basics of what APY means. You can also cross-check the concepts with the U.S. Consumer Financial Protection Bureau.
The compound interest formula we use
The target is simply your essential monthly spending multiplied by the number of months you want covered:
Target = Monthly expenses × Months of coverage
Example: $3,000 of monthly expenses × 6 months = an $18,000 target. With $2,000 saved and $400 a month, you reach it in about 40 months.
