Emergency Fund Calculator
Calculate exactly how large your emergency fund should be and how long to build it.
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Frequently Asked Questions
How large should my emergency fund be?
Financial experts recommend 3-6 months of essential living expenses. Use 3 months if you have a stable job, low debt, dual income and low fixed expenses. Use 6-12 months if you are self-employed, have variable income, are a single-income household, or work in a volatile industry.
Where should I keep my emergency fund?
Keep your emergency fund in a high-yield savings account (HYSA) or money market account. These are FDIC insured, earn 4-5% interest (as of 2026) and are accessible within 1-3 days. Do not invest emergency funds in stocks — they can lose value exactly when you need them.
Should I build an emergency fund or pay off debt first?
Build a small starter emergency fund ($1,000-$2,000) first to avoid using credit cards for unexpected expenses, then focus aggressively on high-interest debt. Once high-interest debt is paid off, build your full emergency fund. Low-interest debt (under 5%) can be repaid more slowly while building your fund.