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Emergency Fund Calculator

Find your target amount and see exactly how long it'll take to build your financial safety net.

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Rent, groceries, utilities, insurance, minimum debt payments, transportation.
Financial experts recommend 3-6 months. Freelancers should aim for 6-12.
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Even $25/month makes a difference. Start small and increase over time.

Your Emergency Fund Plan

🎯 Target Amount
$0
📊 Still Need
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📅 Months to Goal
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Progress 0%

📅 You'll reach your goal by

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🏦 Grow your savings faster

A high-yield savings account earns 10-20x more interest than a regular account. SoFi offers 4.5% APY with no minimum balance.

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How Much Emergency Fund Do I Need?

Most financial experts recommend saving 3 to 6 months of essential expenses. Here's a quick guide:

  • 3 months — If you have a stable job, dual income household, or low fixed expenses
  • 6 months — The gold standard for most people. Covers job loss, medical emergencies, car repairs
  • 9-12 months — Recommended if you're self-employed, freelance, have variable income, or are the sole earner

Where to Keep Your Emergency Fund

Your emergency fund should be in a high-yield savings account (HYSA) — accessible when you need it, but earning interest while it sits there. Avoid investing your emergency fund in stocks — you need it liquid and safe.