Savings Calculators
Emergency Fund Calculator
Size an emergency fund against your essential monthly costs and see how long it takes to build.
Emergency fund target
$19,200
- Still to save
- $14,200
- Months to reach the target
- 29 months
- Cover you have now
- 2 months
How this calculator works
Target = essential monthly expenses × months of cover
- essential expenses
- housing, food, utilities, transport and minimum debt payments
Example calculation
Illustrative example — not advice
Worked example — the emergency fund calculator as it loads, using the default figures below.
- 01Enter essential monthly expenses: $3,200.
- 02Enter months of cover: 6.
- 03Enter current emergency savings: $5,000.
- 04Enter monthly saving: $500.
- 05Read the emergency fund target from the results panel: $19,200.
Emergency fund target: $19,200. Still to save: $14,200. Months to reach the target: 29 months. Cover you have now: 2 months.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- Keep the fund somewhere accessible, not locked away or invested.
- Variable or self-employed income argues for more months of cover.
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- Money Market CalculatorHigh-yield savings balance over time.
Terms used here
Frequently asked questions
Three months or six?
Three is a reasonable floor for stable employment; six or more suits variable income or a single-earner household.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01