How many months of expenses should an emergency fund cover?

The standard recommendation is 3–6 months. Self-employed workers, those with variable income, or single-income households should target 6–12 months.

Where should I keep my emergency fund?

A high-yield savings account is ideal — accessible within days, FDIC/FSCS insured, and earning interest. Avoid investment accounts where a market downturn could hit when you need it most.

Emergency Fund Target Calculator

Calculate your ideal emergency fund size in months of expenses. Adjust for job stability, income variability, dependants, and health factors to find your personalised target.

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Enter the values for the scenario you are assessing. Calculate your ideal emergency fund size in months of expenses. Adjust for job stability, income variability, dependants, and health factors to find your personalised target. Use the emergency fund target result to inform your calculation.

Emergency Fund Target Calculator

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Frequently Asked Questions

How many months of expenses should an emergency fund cover?

Where should I keep my emergency fund?