Answer
How much should be in an emergency fund?
Most guidance says 3 to 6 months of essential expenses: with $4,000 of essentials a month, that’s $12,000 to $24,000. Lean toward six months with one income, irregular pay or children.
Open the savings goal calculator
Targets by monthly essentials
| Essentials a month | 3 months | 6 months |
|---|---|---|
| $2,500 | $7,500 | $15,000 |
| $3,000 | $9,000 | $18,000 |
| $4,000 | $12,000 | $24,000 |
| $5,000 | $15,000 | $30,000 |
| $6,000 | $18,000 | $36,000 |
| $8,000 | $24,000 | $48,000 |
What counts as essential
Rent or mortgage, utilities, groceries, insurance, transport, childcare and minimum debt payments: what you’d still pay if your income stopped.
More questions
Where should I keep it?
In a separate savings account you can reach quickly; many people use a high-yield savings account.
What if 3 months feels impossible?
Start with a first goal such as $1,000, then build month by month.
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