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CalcTortoise

Emergency Fund Calculator

An emergency fund covers job loss, medical bills and surprise repairs without debt. Find your target and the date you’ll reach it.

Written by the CalcTortoise editorial team · How we work

Rent or mortgage, groceries, utilities, insurance, minimum debt payments.

One income in the household?

Is your income steady?

Anyone depends on you?

months

Suggested for you: 4 months.

Your emergency fund target

$24,000

You have 1.5 months covered and need $18,000 more. Saving $600 a month, you get there in 2 years 4 months. A high-yield savings or money market account keeps it safe, FDIC-insured and available the same day.

Saved so far
$6,000
Still to save
$18,000
Time to get there
2 years 4 months
Months covered today
1.5

Illustration only, not investment, tax or legal advice.

Saved vs still to save
Total$24,000
  • Saved$6,000 (25%)
  • Still to save$18,000 (75%)

Month by month

MonthSavingsStill to save
Month 1$6,620$17,380
Month 2$7,242$16,758
Month 3$7,866$16,134
Month 4$8,492$15,508
Month 5$9,121$14,879
Month 6$9,751$14,249
Month 7$10,384$13,616
Month 8$11,018$12,982
Month 9$11,655$12,345
Month 10$12,294$11,706
Month 11$12,935$11,065
Month 12$13,578$10,422
Month 13$14,223$9,777
Month 14$14,871$9,129
Month 15$15,520$8,480
Month 16$16,172$7,828
Month 17$16,826$7,174
Month 18$17,482$6,518
Month 19$18,140$5,860
Month 20$18,801$5,199
Month 21$19,463$4,537
Month 22$20,128$3,872
Month 23$20,795$3,205
Month 24$21,465$2,535
Month 25$22,136$1,864
Month 26$22,810$1,190
Month 27$23,486$514
Month 28$24,164$0

How to use this calculator

  1. Enter your essential monthly expenses.
  2. Answer three questions for a suggested number of months.
  3. Add your current savings and monthly contribution.

Frequently asked questions

How big should an emergency fund be?

Three to six months of essential expenses is the common guideline, toward the high end with one income, variable pay or dependents. At $4,000 a month for 6 months, the target is $24,000.

Where should I keep it?

In a high-yield savings or money market account at an FDIC-insured bank: safe, liquid and still earning interest.

Should I build it before paying off debt?

Many people build a starter fund first, then pay down high-interest debt, then finish the full fund. Without savings, the next surprise lands on a credit card.

Sources and method

Standard compound-interest formulas, tested against worked examples. Nothing here depends on outside data; the rates you type in are your own assumptions.

No outside data is used. The numbers you type in are the only inputs.

Page and formula last reviewed . How we calculate · Editorial policy · Corrections and change log

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Last updated 10 October 2026. For information only — not financial advice. Check the final figures with your lender or bank.