{
  "id": "emergency-fund",
  "version": "1f9de6560392",
  "status": "published",
  "name": "Emergency Fund Calculator",
  "question": "What emergency fund do I need?",
  "summary": "Works out an emergency fund target from essential monthly expenses and the months to cover, what is still to save, and how many months of saving it takes.",
  "category": "finance",
  "subcategory": "investing",
  "url": "https://www.acalculator.org/finance/emergency-fund-calculator",
  "markdown": "https://www.acalculator.org/finance/emergency-fund-calculator.md",
  "kind": "function",
  "method": "Target = (housing + food + transportation + insurance + other) × months; still to save = max(0, target − saved); months to reach it = still to save ÷ monthly saving, rounded up.",
  "assumptions": [
    "Only essential expenses count: what you must pay each month if your income stopped.",
    "The fund earns no interest, and expenses stay the same while you save.",
    "Saving amounts are deposited once a month; the last month may need less than the full amount."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "home": {
        "title": "Housing",
        "description": "Rent or mortgage payment, property tax and utilities each month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "food": {
        "title": "Food",
        "description": "Groceries and essential household supplies each month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "car": {
        "title": "Transportation",
        "description": "Car payment, fuel, transit and parking each month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "ins": {
        "title": "Insurance and health",
        "description": "Health, car, home and life insurance and medical costs each month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "other": {
        "title": "Debt and other",
        "description": "Minimum debt payments, child care, phone and other must-pay bills each month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "m": {
        "title": "Months to cover",
        "description": "How many months of essential expenses the fund should hold: often 3 to 6.",
        "type": "number",
        "minimum": 1,
        "maximum": 36
      },
      "saved": {
        "title": "Already saved",
        "description": "Money already set aside for emergencies.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000
      },
      "save": {
        "title": "Saving each month",
        "description": "How much you can add to the fund each month. Leave empty to skip the timeline.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0.01,
        "maximum": 10000000
      }
    }
  },
  "outputs": {
    "target": {
      "label": "Emergency fund target",
      "description": "Essential monthly expenses × months to cover.",
      "format": "money"
    },
    "expenses": {
      "label": "Essential expenses per month",
      "description": "The sum of the five expense boxes.",
      "format": "money"
    },
    "gap": {
      "label": "Still to save",
      "description": "The target minus what is already saved, or $0 once it is reached.",
      "format": "money"
    },
    "monthsToGoal": {
      "label": "Months to reach the target",
      "description": "Still to save ÷ saving each month, rounded up to a whole month.",
      "format": "integer"
    },
    "covered": {
      "label": "Months covered now",
      "description": "Already saved ÷ essential monthly expenses.",
      "format": "number"
    },
    "funded": {
      "label": "Share of the target saved",
      "description": "Already saved ÷ target, in percent.",
      "format": "percent"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "home": 1500,
      "food": 500,
      "car": 400,
      "ins": 300,
      "other": 300,
      "m": 6,
      "saved": 2000,
      "save": 500
    },
    "outputs": {
      "target": 18000,
      "expenses": 3000,
      "gap": 16000,
      "monthsToGoal": 32,
      "covered": 0.6666666666666666,
      "funded": 11.11111111111111
    },
    "text": "Covering $3,000.00 a month for 6 months needs an emergency fund of $18,000.00; $16,000.00 is still to save."
  },
  "examples": [
    {
      "given": {
        "home": 1500,
        "food": 500,
        "car": 400,
        "ins": 300,
        "other": 300,
        "m": 6,
        "saved": 2000,
        "save": 500
      },
      "expect": {
        "expenses": 3000,
        "target": 18000,
        "gap": 16000,
        "monthsToGoal": 32,
        "covered": 0.6666666666666666,
        "funded": 11.11111111111111
      },
      "source": "FDIC Consumer Resource Center, Saving for the Unexpected and Your Future (at least six months of living expenses), https://www.fdic.gov/consumer-resource-center/2025-01/saving-unexpected-and-your-future; hand calculation in content.mdx: 3,000 × 6 = 18,000; 16,000 ÷ 500 = 32 months"
    },
    {
      "given": {
        "home": 1200,
        "food": 450.5,
        "car": 0,
        "ins": 210.25,
        "other": 139.25,
        "m": 3,
        "saved": 1000,
        "save": 250
      },
      "expect": {
        "expenses": 2000,
        "target": 6000,
        "gap": 5000,
        "monthsToGoal": 20
      },
      "source": "FINRA, Financial Foundations: Start an Emergency Fund (three to six months of living expenses), https://www.finra.org/investors/personal-finance/start-emergency-fund; hand calculation in content.mdx: 1,200 + 450.50 + 210.25 + 139.25 = 2,000; × 3 = 6,000"
    },
    {
      "given": {
        "home": 2000,
        "food": 600,
        "car": 300,
        "ins": 100,
        "other": 0,
        "m": 6,
        "saved": 18000,
        "save": 300
      },
      "expect": {
        "target": 18000,
        "gap": 0,
        "monthsToGoal": 0,
        "covered": 6,
        "funded": 100
      },
      "source": "FDIC Consumer Resource Center, Saving for the Unexpected and Your Future (at least six months of living expenses), https://www.fdic.gov/consumer-resource-center/2025-01/saving-unexpected-and-your-future; hand calculation in content.mdx: 3,000 × 6 = 18,000, all saved"
    },
    {
      "given": {
        "home": 1000,
        "food": 0,
        "car": 0,
        "ins": 0,
        "other": 0,
        "m": 4.5,
        "saved": 0,
        "save": 0.07
      },
      "expect": {
        "target": 4500,
        "monthsToGoal": 64286
      },
      "source": "FINRA, Financial Foundations: Start an Emergency Fund (three to six months of living expenses), https://www.finra.org/investors/personal-finance/start-emergency-fund; hand calculation in content.mdx: 4,500 ÷ 0.07 = 64,285.7, rounded up"
    }
  ],
  "sources": [
    "FINRA, Financial Foundations: Start an Emergency Fund (three to six months of living expenses). https://www.finra.org/investors/personal-finance/start-emergency-fund (retrieved 2026-10-01)",
    "FDIC Consumer Resource Center, Saving for the Unexpected and Your Future (at least six months of living expenses in a federally insured product). https://www.fdic.gov/consumer-resource-center/2025-01/saving-unexpected-and-your-future (retrieved 2026-10-01)",
    "CFPB, An essential guide to building an emergency fund. https://www.consumerfinance.gov/an-essential-guide-to-building-an-emergency-fund/ (retrieved 2026-10-01)"
  ],
  "related": [
    "savings",
    "budget",
    "net-worth"
  ],
  "changelog": []
}