Quickly calculate your Emergency Savings based on your monthly income and expenses.
1: Emergency Savings Goal
Use your income, living expenses (necessities, not wants), and months of savings to calculate how much your emergency savings goal should be. Many experts recommend 3 - 6 months of living expenses.
Living Expenses: 0%
$0
per month
Months of Savings: 0
2: Current Savings
Enter your current emergency savings and how much you can increase your savings each month to see when you'll reach your goal.
Summary
Please enter your income and expense percentage to see your savings goal.
$0
Emergency Savings Goal
0
Months To Goal
-
Goal Achievement Date
Starting an emergency fund?
If you're just starting out, your first goal should be to save $1,000 in your emergency fund.
Why $1,000?
Having $1,000 in a savings account for emergencies only is your first buffer against the unexpected. What if you drive over a nail? What if you chip your tooth? It's an amount that you can achieve no matter where you starting from. Without at least a starter emergency fund, some of those unexpected costs could start you down the rabbit hole of debt. And staying out of debt is much easier than climbing your way out of debt. You can do both but it's better to avoid that trap. The $1,000 emergency fund is a good starting point. that trap. The $1,000 emergency fund is a good starting point.
$ 1000
Recommended Starter Fund
Loading...