An emergency fund is the foundation of financial security. Use the calculator above to personalize your target based on risk, income stability, and dependents.

Why You Need One

• Job loss or reduced hours
• Unexpected medical costs
• Major car or home repairs
• Family emergencies and travel

How Much to Save

The classic rule of thumb

Aim for 3–6 months of essential expenses. Our calculator adjusts this for your situation.

Personalized targets

• Conservative (6–12 months): single income, variable work, dependents, higher health risk
• Moderate (3–6 months): dual income, stable jobs, good insurance
• Aggressive (1–3 months): no dependents, high job mobility, low fixed costs

Where to Keep It

• High‑yield savings (FDIC insured, instant access)
• Money market accounts (check‑writing, may require higher balances)
• Short‑term CDs (ladder part of your fund for higher yield)
• Avoid: stocks, long‑term CDs, checking, or cash at home

Build It Faster

• Automate transfers or split direct deposit
• Use windfalls (tax refunds, bonuses)
• Round‑up savings and weekly micro‑saves
• Temporary spending cuts; dedicate side‑income

When to Use It

• Use: job loss, essential medical, essential car/home repairs, emergency travel
• Don’t use: vacations, upgrades, predictable expenses, investments