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Emergency Fund Calculator: Start Saving Now!

Emergency Fund Calculator: Start Saving Now!
Betsalel Cohen
UpdatedApr 29, 2020
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    1 min read
Key Takeaways:
  • Emergencies happen, but are you prepared?
  • The Emergency Fund Calculator helps you calculate if you have enough reserves for unexpected events.
  • A good rule of thumb is to keep six months of expenses in a special savings account.

Do You Have Enough Savings in the Case of an Emergency?

Who doesn't face an unexpected event and a surprise bill? The most common are medical expenses, home repairs, car repairs, and unforeseen travel expenses. A sudden loss or drop in income can make almost any bill challenging to pay.

Use the Emergency Fund Calculator to figure out how much money you need to save and protect yourself in cases of distress.

Emergency Fund Saving Calculator

Calculate Your Emergency Fund Needs

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Emergency Savings and Your Financial Health

Your emergency fund is a vital part of your overall financial situation. However, it is crucial that you make savings a part of your overall game plan.

Take's Financial Health Survey to analyze how you score on Spending, Borrowing, Saving, and Planning. Get recommendations and tools. Then take steps to improve your financial health.


BBetsalel Cohen, Jan, 2021

Should I stop saving for emergency funds if I can't afford my credit card payments?

JJosh, Aug, 2021

Hello Betsalel. 

Thank you for reaching out today. Please, do not take my answer to be legal advice as I am not an attorney. Only attorneys can offer legal advice. 

 Everyone's debt is different, so the first step is figuring out what might be the best solution for you. Our partners can help you learn more about debt relief options like debt resolution, consumer credit counseling, paying off debt more efficiently on your own, or using your home equity to consolidate debt or consolidation loans.

We would encourage you to save money in case of an emergency. If you can not afford your credit card payments you might also find saving money difficult. 

If you would like to learn more please contact Freedom Debt Relief at 800-852-1431. You can also look them up online at 

Regards, Josh 

EEdith L, Apr, 2019

Thanks for the calculator. Not only did I realize how much I needed to save, but I immediately started a new account. I decided to put away $400 each month. Once I build up my emergency account, I plan on putting away money to buy a home.

BBetsalel Cohen, Apr, 2019

Edith, thanks for your positive feedback. That is a great plan! I suggest that you look at some of our other tools including our Financial Health Survey and Monthly Savings Calculator.