Inputs
Use essential expenses only (housing, food, insurance, minimum debt payments, utilities).
Target fund
โ
Gap to target
โ
Time to reach target
โ
Estimated target date
โ
Monthly savings needed (to reach in 12 months)
โ
| Month | Start | Interest | Contribution | End |
|---|---|---|---|---|
| Calculate to see a preview | ||||
How to use
- Enter your essential monthly expenses (not your full lifestyle spending).
- Choose a target coverage (commonly 3โ6 months).
- Add current savings and monthly contribution.
- Optional: add a rough APY for a savings account (estimates only).
How it works
The calculator sets your target as: Target = Monthly essentials ร Target months. If APY is provided, it approximates monthly growth using an effective monthly rate.
Math assumptions (click)
- If APY is set, monthly rate is approximated as: (1 + APY)^(1/12) โ 1.
- Time-to-target is computed with a month-by-month simulation.
- โMonthly savings needed for 12 monthsโ is solved using a standard future value formula (or simple division if APY is 0).
Privacy & disclaimer
Local-only: All calculations run in your browser. This page does not upload your data.
Disclaimer: Educational estimates only. Not financial advice. Real outcomes can differ due to rates, taxes, fees, account rules, and personal circumstances.
Public PC warning: If youโre on a shared device, avoid entering sensitive numbers, or use rough estimates.
Disclaimer: Educational estimates only. Not financial advice. Real outcomes can differ due to rates, taxes, fees, account rules, and personal circumstances.
Public PC warning: If youโre on a shared device, avoid entering sensitive numbers, or use rough estimates.
FAQ
How big should my emergency fund be?
Many people use 3โ6 months of essential expenses, but the โrightโ number depends on income stability and risk tolerance.
Should I invest my emergency fund?
Most people keep it in cash-like accounts for liquidity and safety. This toolโs APY option is an estimate.
Does this include taxes, fees, or account restrictions?
No. Itโs a simplified estimate so you can plan quickly.