Emergency Fund Calculator

An emergency fund is a crucial component of financial planning that provides a safety net during unexpected situations like job loss, medical emergencies, or major repairs. Our calculator helps you determine the right amount and create a savings plan.

The general recommendation is to maintain 3-6 months of living expenses in an easily accessible account, though the exact amount depends on your job stability and personal circumstances.

Emergency Fund Guidelines:

• 3 Months: Stable job, dual income household
• 6 Months: Standard recommendation for most people
• 9-12 Months: Irregular income, single income household, high-risk job

What Qualifies as an Emergency:

• Job Loss: Unexpected unemployment
• Medical Emergency: Unplanned medical expenses
• Major Repairs: Home or vehicle repairs
• Family Emergency: Supporting family members
• Natural Disasters: Unexpected property damage

Where to Keep Emergency Fund:

• High-Yield Savings Account: Easy access with better returns
• Liquid Mutual Funds: Slightly higher returns, 1-day redemption
• Fixed Deposits: Premature withdrawal option available
• Avoid: Stocks, long-term investments, or illiquid assets

Building Your Emergency Fund:

• Start with a small goal (₹10,000-₹25,000)
• Automate monthly transfers to emergency fund
• Use windfalls (bonus, tax refund) to boost the fund
• Keep it separate from other savings
• Replenish immediately after using it

Features:

• Calculate recommended emergency fund amount
• Monthly savings plan to reach your goal
• Time to goal calculation
• Expense category breakdown
• Visual progress tracking