Emergency fund calculator
How many months your savings will last if your income suddenly stops, and how much you should keep in reserve.
Money left by month
Table
How big your emergency fund should be
An emergency fund is money for when your income stops: job loss, illness, relocation, closing a business. Keep it where you can withdraw the money within a day or two.
- 3 months of expenses is the minimum with a stable salaried job.
- 6 months for a family with children, a mortgage or a single source of income.
- 6–12 months for business owners, freelancers and people who live between countries.
Keep your emergency fund in the currency you spend and across several banks. Anything above the reserve works better invested than sitting on a card.
The Wealth Plan financial checkup assesses your emergency fund together with other risks to your wealth: family protection, currency and capital in one country.
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The financial checkup reviews five risks to your wealth: emergency fund, family protection, currency, single country and inheritance — and shows where to start. Free, 10 minutes.
FAQ
How many months should an emergency fund cover?
Usually 3–6 months of expenses. If your income is irregular, you run a business or you live between countries, 6–12 months is sensible.
Where should I keep my emergency fund?
Somewhere you can get the money within a day or two without losses: a savings account, a short deposit with withdrawals, a money market fund. An emergency fund is not invested in stocks or long-term instruments.
Do investments and property count as an emergency fund?
No. In a crisis you may have to sell them cheaply or slowly. An emergency fund is liquid money that does not lose value when you need it.
What should I do with money above my emergency fund?
Put it towards your goals and your own pension: investments matched to your horizon and risk profile. That is the next step of a financial plan.