Free calculator · Personal Finance
Emergency Fund
Calculates an emergency fund target as a chosen number of months of essential expenses, the gap between that target and the current fund, and roughly how many months closing the gap could take at a given saving pace. Inputs are monthly essential expenses, the months of coverage, the current fund balance, and the monthly amount saved toward it.
By Devon Coombs, CPA, MBA · Teaching Professor of Finance, Santa Clara University · Reviewed August 2026
From the author: Devon Coombs, CPA, MBA teaches finance at Santa Clara University and works with corporate teams on practical AI.
AI training for finance teams · Consulting · The 10 Laws of Finance
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Emergency Fund
Emergency fund target
$21,000
6 months × $3,500 of essentials
Gap to close
$17,000
19% funded so far
Coverage today
1.1 mo
current fund ÷ essentials
Months to fill
43
at $400/mo
Target = $3,500 × 6 = $21,000 · Gap = $21,000 − $4,000 = $17,000 · Months = ⌈17,000 ÷ 400⌉ = 43
Three to six months of essentials is a common range; households with variable income or a single earner often aim closer to the high end.
Learn the concept
This calculator comes from the free Corporate Finance: The 10 Laws of Finance course, where the concept is taught with readings, worked examples, and practice questions.
Precomputed reference tables
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Built by Devon Coombs, CPA, MBA, Teaching Professor of Finance at Santa Clara University.