Emergency Fund Calculator
See how many months of expenses your savings covers and how much more you need to reach a 3–6 month emergency-fund target.
Result
- Current runway5.0 months
- StatusPartially funded (within 3–6 month band)
- Target (6 months)$24,000.00
- Still needed$4,000.00
- 3-month / 6-month band$12,000.00 – $24,000.00
Step-by-step
- Runway = savings ÷ monthly expenses = $20,000.00 ÷ $4,000.00 = 5.0 months.
- Target = 6 months × $4,000.00 = $24,000.00.
- You need $4,000.00 more to reach the target.
How to use this calculator
- Enter your essential monthly expenses (not your full spending).
- Enter your current liquid savings.
- Set your target months of runway (3–6 is typical).
- Read your current runway and the amount still needed to hit the target.
About this calculator
An emergency fund is liquid savings set aside to cover essential expenses if your income stops or an unexpected cost hits. The standard guideline is three to six months of essential expenses — enough to weather a job loss or major repair without going into debt. This calculator divides your current savings by your monthly essential expenses to show how many months of runway you have, compares it to your target, and tells you the dollar gap remaining. It also shows the 3-to-6-month band in dollars so you can see where you fall. Use essential expenses — rent or mortgage, food, utilities, insurance, and minimum debt payments — rather than your full discretionary budget, since in a true emergency you would cut non-essentials. People with variable income, a single earner, or dependents often aim for the higher end or beyond.
How it works — the formula
Runway (months) = Savings ÷ Monthly essential expenses
Target = Target months × Monthly expenses
Gap = max(0, Target − Savings)Savings divided by burn rate gives runway; the target scales expenses by the chosen number of months.
Worked examples
- Inputs:
- expenses=4000, savings=20000, targetMonths=6
- Output:
- 5 months runway, $4,000 to target
- Inputs:
- expenses=3000, savings=18000, targetMonths=6
- Output:
- 6 months — fully funded
- Inputs:
- expenses=5000, savings=5000, targetMonths=3
- Output:
- 1 month — under-funded
Limitations
- A guideline; ideal size depends on income stability and dependents.
- Uses current expenses; emergencies may change the burn rate.
- Does not account for unemployment benefits or other backstops.
General guidance, not personalized financial advice.