Emergency Fund Calculator
Total the costs you would still pay in a thin month, then see how long it takes to set that many months aside.
Target fund
$18,000.00
$3,000.00 of essentials × 6 months. The gap is $14,000.00.
Three months covers a short gap, such as a repair or a few weeks with a thinner paycheck. Six months or more fits a longer stretch without income, or costs that cannot be cut. This target uses the essential costs you listed, not every dollar you spend.
- Monthly essentials
- $3,000.00
- Already saved
- $4,000.00
- Gap
- $14,000.00
- Months to reach it
- 35
- Target date
- August 2029
The guide is a plan for building and keeping an emergency fund.
Personal Finance MasteryShow month-by-month savings planHide month-by-month savings plan
Month-by-month savings plan
| Month | Date | Deposit | Balance |
|---|---|---|---|
| 1 | Oct 2026 | $400.00 | $4,400.00 |
| 2 | Nov 2026 | $400.00 | $4,800.00 |
| 3 | Dec 2026 | $400.00 | $5,200.00 |
| 4 | Jan 2027 | $400.00 | $5,600.00 |
| 5 | Feb 2027 | $400.00 | $6,000.00 |
| 6 | Mar 2027 | $400.00 | $6,400.00 |
| 7 | Apr 2027 | $400.00 | $6,800.00 |
| 8 | May 2027 | $400.00 | $7,200.00 |
| 9 | Jun 2027 | $400.00 | $7,600.00 |
| 10 | Jul 2027 | $400.00 | $8,000.00 |
| 11 | Aug 2027 | $400.00 | $8,400.00 |
| 12 | Sep 2027 | $400.00 | $8,800.00 |
| 13 | Oct 2027 | $400.00 | $9,200.00 |
| 14 | Nov 2027 | $400.00 | $9,600.00 |
| 15 | Dec 2027 | $400.00 | $10,000.00 |
| 16 | Jan 2028 | $400.00 | $10,400.00 |
| 17 | Feb 2028 | $400.00 | $10,800.00 |
| 18 | Mar 2028 | $400.00 | $11,200.00 |
| 19 | Apr 2028 | $400.00 | $11,600.00 |
| 20 | May 2028 | $400.00 | $12,000.00 |
| 21 | Jun 2028 | $400.00 | $12,400.00 |
| 22 | Jul 2028 | $400.00 | $12,800.00 |
| 23 | Aug 2028 | $400.00 | $13,200.00 |
| 24 | Sep 2028 | $400.00 | $13,600.00 |
| 25 | Oct 2028 | $400.00 | $14,000.00 |
| 26 | Nov 2028 | $400.00 | $14,400.00 |
| 27 | Dec 2028 | $400.00 | $14,800.00 |
| 28 | Jan 2029 | $400.00 | $15,200.00 |
| 29 | Feb 2029 | $400.00 | $15,600.00 |
| 30 | Mar 2029 | $400.00 | $16,000.00 |
| 31 | Apr 2029 | $400.00 | $16,400.00 |
| 32 | May 2029 | $400.00 | $16,800.00 |
| 33 | Jun 2029 | $400.00 | $17,200.00 |
| 34 | Jul 2029 | $400.00 | $17,600.00 |
| 35 | Aug 2029 | $400.00 | $18,000.00 |
How it's calculated
The monthly essential total is the sum of the lines you enter. The target is that total times the months of coverage. The gap is the target minus what you have already saved. Each month in the plan adds the amount you can set aside, and the last month adds only what is left to reach the target. If nothing is set aside, the gap stays put and no date is shown. The plan stops at 50 years.
Reviewed by WH2L Digital. Last reviewed October 31, 2026.
Questions
Which costs belong in the monthly total?
Use costs you would still pay if income dropped: housing, utilities, food, transport, insurance, minimum debt payments, and other essentials. Leave out spending you could pause.
How is the target fund calculated?
The monthly essential total is multiplied by the months of coverage you choose. The gap is that target minus what you have already saved. The plan divides the gap by the amount you can set aside each month.
How many months of coverage should I use?
Three months covers a short gap, such as a repair or a few weeks with a thinner paycheck. Six months or more fits a longer stretch without income, or costs that cannot be cut.
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Educational estimates only, not financial advice.