Emergency Fund Calculator: How Much Will Protect You?

Aim to save three to six months' worth of expenses in your emergency fund.

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An emergency fund cushions against surprise financial setbacks. Use our emergency fund calculator below to help you pinpoint your savings goal.

How much to save in your emergency fund

Sudden car repairs, medical emergencies or job loss can all lead to unexpected debt if you're not prepared. How much should you save to safeguard your finances? It's difficult to predict how much these or other emergencies could cost — but three to six months' worth of expenses is a good goal. If that seems too steep, saving even $500 will help you avoid going into debt to finance a small car repair or medical bill.

(If you need more info, here's our emergency fund explainer. And for inspiration, learn more about how to save money.)

Where to stash your emergency fund

Once you have a target, find a savings account with a competitive interest rate where you can store your cash. (Some of NerdWallet's favorite online savings accounts are here.)

A savings account is the best place to keep your emergency fund — it provides easy access to cash if you need it. And a high-yield savings account will help you grow your balance by paying a higher-than-average interest rate.

» Find high rates across checking, savings and other accounts in NerdWallet's list of high-interest accounts.

Check out the top rates on some of NerdWallet's favorite savings accounts

LendingClub Bank logo
Learn More

Member FDIC

LendingClub High-Yield Savings

LendingClub Bank logo
APY

0.60%

Min. balance for APY

$2,500

Discover Bank logo
Learn More

Member FDIC

Discover Bank Online Savings

Discover Bank logo
APY

0.40%

Min. balance for APY

$0

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