🚨 Emergency Fund Calculator
Calculate how much you need in your emergency fund based on your expenses, job stability, and dependents.
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Frequently Asked Questions
How much should I have in my emergency fund?
3-6 months of expenses for most people. 6-12 months if self-employed, single income household, or unstable job. Consider: job security, dependents, health issues, home/car age. Start with $1,000, then build to 1 month, then full amount.
Where should I keep my emergency fund?
High-yield savings account (HYSA) with 4-5% APY. Must be: liquid (access within 24 hours), safe (FDIC insured), separate from spending accounts. Do not invest it - you need guaranteed access without market risk. Online banks offer best rates.
What counts as an emergency?
Job loss, medical emergency, major car or home repairs, unexpected vet bills. NOT vacations, wants, or planned expenses. If you can save up for it or put it on a payment plan, it is not an emergency. Be disciplined to preserve the fund.
Should I pay off debt or build emergency fund?
Both! Save $1,000 first (starter emergency fund), then aggressively pay high-interest debt (>7% APR). Once debt is manageable, build full 3-6 month emergency fund. Never let emergency fund hit $0 - rebuild it after using it.
How fast should I build my emergency fund?
As fast as possible while maintaining other obligations. Save 20% of take-home pay if possible. Cut unnecessary expenses temporarily. Consider side income. Having 6 months expenses saved gives immense peace of mind and financial security.
Financial Disclaimer
This calculator is provided for educational and informational purposes only. The results are estimates based on the information you provide and should not be considered as financial, legal, or tax advice.
Actual results may vary based on your specific circumstances, market conditions, and other factors. Always consult with qualified financial, legal, and tax professionals before making any financial decisions.
We make no guarantees about the accuracy, completeness, or reliability of the calculations. Use this tool at your own risk.