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What is the Emergency Fund Calculator?
An emergency fund calculator helps you determine how much money you should set aside for unexpected expenses like medical bills or job loss.
How to Use This Calculator
1
Enter your total monthly essential expenses (housing, food, utilities).
2
Select the number of months you want to be covered (usually 3-6 months).
3
Click 'Calculate' to see your target emergency fund amount.
Example Calculation
$3,000 monthly expenses for 6 months
If your monthly expenses are $3,000 and you want 6 months of coverage, you should aim to save $18,000 in your emergency fund.
Frequently Asked Questions
Pro Tips
- Start small if you can't save the full amount immediately.
- Only use this fund for true emergencies, not planned expenses.
- Replenish the fund immediately after using it.