Financial Tools

Emergency Fund Calculator

Estimate a target emergency fund size based on your essential monthly expenses, and see how close your current savings are to that target.

An emergency fund is money set aside — usually in a high-interest savings account — that can absorb a lost paycheque, a car repair, or another unexpected cost without creating new debt. This calculator gives a simple target based on your essential expenses.

Your Numbers

Essential monthly expenses ($) Months of coverage desired Current emergency savings ($)

How This Is Calculated

Target fund size is your essential monthly expenses multiplied by the number of months of coverage you'd like. The gap remaining is simply that target minus your current emergency savings — if your current savings already meet or exceed the target, the result shows a surplus instead.

Assumptions

"Essential" expenses generally means housing, utilities, food, transportation, insurance, and minimum debt payments — not discretionary spending.
3-6 months is a common general guideline; the right number depends on job stability, household income sources, and dependents.
Where the fund is held and what it earns is not factored into this estimate.

Illustration only. This tool is for educational and illustrative purposes only and does not represent financial, investment, tax, or legal advice.

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