Emergency fund calculator
Work out how much to keep in your emergency fund based on your living costs and type of income, and how many months it takes to get there.
How to useHow big should your emergency fund be?
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Emergency fund calculator: what it is for
Enter your monthly living costs and your type of income: stable public job (3 months), salaried employee (6 months) or self-employed and business owner (12 months). The calculator shows the ideal size of the fund, how much is missing and, from what you can save each month and the interest rate, how many months it takes to reach the goal.
How to use
- Type your monthly living costs.
- Choose your type of income.
- Enter what you already have and what you save.
When to use it
- Start getting your finances in order.
- Set a goal before investing in stocks.
- Plan the move from a salaried job to freelancing.
Frequently asked questions
How many months of expenses should I save?
The most common rule is 6 months of living costs for salaried employees and 12 months for freelancers, business owners and anyone with variable income. People with very stable jobs, such as tenured civil servants, often use 3 months.
Where should I keep the fund?
Somewhere safe that you can withdraw from the same day, such as a high-yield savings account or a money market fund at a solid institution. The goal is to have the money available, not the highest return.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 are free.