Emergency Fund Savings Planner

Emergency Savings Goal Calculator

Input Fields

Medical emergencies

EM

Auto repair emergencies

EA

Legal emergencies

EL

Property damage emergencies

EP

Other emergencies

EO

Insurance deductible medical

IM

Insurance deductible auto

IA

Insurance deductible property

IP

Insurance deductible other

IO

Monthly living expenses

L

Months of unemployment

M

Currently saved amount

S

Monthly savings

MS

Rate of return (after tax)

R

%

CalculateReset

Your Results

Total Amount to Save

Number of Months to Save

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Emergency Fund Calculation Formula

$$\text{TotalEmergency} = EM + EA + EL + EP + EO$$ $$\text{TotalInsurance} = IM + IA + IP + IO$$ $$\text{LivingBuffer} = L \times M$$ $$\text{TotalToSave} = \text{TotalEmergency} + \text{TotalInsurance} + \text{LivingBuffer} – S$$ $$\text{PeriodsToSave} = \begin{cases} \frac{\log\left(\frac{MS + \frac{R}{1200} \cdot \text{TotalToSave}}{MS}\right)}{\log\left(1 + \frac{R}{1200}\right)} & \text{if } R > 0 \\ \frac{\text{TotalToSave}}{MS} & \text{if } R = 0 \end{cases}$$

This formula estimates how much you need to save for emergencies, including:

• EM, EA, EL, EP, EO: medical, auto, legal, personal, and other emergency expenses
• IM, IA, IP, IO: different types of insurance shortfalls
• L × M: monthly living expenses multiplied by the number of months to buffer
• S: current savings
• MS: monthly saving amount
• R: annual interest rate (as a percentage)

It then calculates how many months (`PeriodsToSave`) are needed to reach the savings goal with or without interest.

The Emergency Fund Savings Planner is perfect for anyone building a financial buffer. It factors in emergency expenses (EM = emergency medical, EA = auto, EL = legal, EP = personal, EO = other), insurance shortfalls (IM, IA, IP, IO), a living expense multiplier (L × M), current savings (S), monthly savings (MS), and interest rate (R). The result shows your total savings goal and how long it will take to reach it. Ideal for families, freelancers, and financial planners preparing for life’s uncertainties.