Emergency Fund Calculator
Calculate how much you need in your emergency fund and create a personalized savings plan.
Your Financial Information
Emergency Fund Plan
Your Emergency Fund Goal
$0
6 months of essential expenses
Current Status
Current savings:
$0
Still needed:
$0
Progress:
0%
Savings Timeline
Monthly savings:
$0
Time to goal:
0 months
Target completion:
-
Recommendations
Savings Milestones
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Enter your financial information to calculate your emergency fund needs
Why You Need an Emergency Fund
🏥
Medical Emergencies
Unexpected medical bills can be financially devastating without proper preparation.
💼
Job Loss
Maintain your lifestyle while searching for new employment opportunities.
🏠
Home Repairs
Major home repairs like HVAC, plumbing, or roof issues can be costly.
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Car Troubles
Vehicle repairs or replacement can disrupt your budget and transportation.
Emergency Fund Tips
Where to Keep Your Emergency Fund
- ✓ High-yield savings account for easy access and growth
- ✓ Money market account with debit card access
- ✓ Short-term CDs for portion of fund (3-6 month terms)
- ✗ Stock market or volatile investments
Building Your Fund
- ✓ Start with $1,000 as your initial goal
- ✓ Automate transfers to make saving effortless
- ✓ Use windfalls like tax refunds or bonuses
- ✓ Cut unnecessary expenses temporarily to boost savings