Emergency Fund Calculator
An emergency fund helps to protect your finances when the unexpected happens - especially the loss of a job. Most experts recommend an emergency fund of between three and nine month's spending for a worst-case scenario.
Some emergency savings is always better than none. Consider an automated checking-to-savings transfer to grow an emergency fund over time.
If needed, I could reduce monthly spending by:
I can likely find a new job in:
An emergency fund of $14,250 would last 3 months when spending $4,750 per month.
Key Insights
- Your monthly spending is $4,000
- With a 5% reduction, your emergency spending would be $3,800
- For a 3-month emergency fund, you should save $11,400
- Each month of unemployment will use approximately $3,800 of your emergency fund