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Banking & Budgeting

How Much Do I Need For Emergencies?

Very Good (223 Ratings)

3.206278/5

You may decide to set aside at least three to six months of cash or liquid assets (investments you can easily convert to cash) in the event of a loss of job, medical emergency, short-term disability, etc. Use this calculator to help determine how much you need to set aside monthly or as a lump sum to create your desired emergency fund.

Assumptions	Input
Current gross monthly income	$
Current emergency funds available	$
Number of months for fund to last	(1-360)
Before tax return on savings: (%)	(0-12)%
Marginal tax bracket: (%)	(0-50)%
Number of months to accumulate funds	(1-360)

Expenses	Input
Total monthly living expenses, if plan to itemize below then leave at 0.	$

Or Itemize Monthly	Input
Mortgage payment or rent	$
Vacation home (mortgage)	$
Automobile loan(s)	$
Personal loan(s)	$
Charge accounts	$
Federal income taxes	$
State income taxes	$
FICA (social security taxes)	$
Real estate taxes	$
Other taxes	$
Utilities	$
Household repairs and maintenance	$
Food	$
Clothing and laundry	$
Educational expenses	$
Child care	$
Automobile expenses (gas, repairs, etc.)	$
Other transportation expenses	$
Life insurance premiums	$
Homeowners (renters) insurance	$
Automobile insurance	$
Medical, dental and disability insurance	$
Entertainment and dining	$
Recreation and travel	$
Club dues	$
Hobbies	$
Gifts	$
Major home improvements and furnishings	$
Professional services	$
Charitable contributions	$
Other and miscellaneous expenses	$

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Emergency fund analysis
Total monthly living expenses
Number of months
Emergency fund needed
Emergency fund (cash) available
Emergency fund shortfall/(surplus)

Recommended savings
Lump sum needed to fund shortfall/(surplus)
OR Monthly savings needed to fund shortfall/(surplus)
Monthly cash available for savings

Ratio analysis
Living expenses/earned income
Recommended savings/earned income

See All Calculators

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Very Good (223 Ratings)

3/5

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.74%	5.72%
  15 Year Fixed	5.33%	5.29%
  1 Year ARM	5.92%	5.90%
  30 Year Fixed Jumbo	6.95%	7.04%
  5/1 ARM	5.19%	5.31%
  3/1 ARM	5.14%	5.28%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	7.41%	7.42%
  $50K Home Equity Loan	7.26%	7.26%
  $75K Home Equity Loan	7.50%	7.51%
  $30K HELOC	5.03%	5.06%
  $50K HELOC	4.17%	4.18%
  $75K HELOC	4.16%	4.17%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	2.72%	2.75%
  1 year CD	3.01%	3.01%
  3 year CD	3.16%	3.15%
  MMA	2.35%	2.37%
  $10K MMA	2.54%	2.56%
  $25K MMA	2.93%	2.94%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.67%	6.63%
  48 Month New Car Loan	6.57%	6.76%
  60 Month New Car Loan	6.57%	6.75%
  72 Month New Car Loan	7.10%	7.10%
  36 Month Used Car Loan	7.16%	7.18%
  48 Month Used Car Loan	6.89%	7.09%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Balance Transfer	10.31%	10.03%
  Low Interest	11.01%	10.97%
  For Bad Credit	13.02%	13.12%
  Cash Back	11.47%	11.46%
  Business	11.10%	10.91%
  Airline	12.75%	12.69%

  Source: CreditCards.com

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