Emergency Fund Calculator
How much to keep aside for a job loss or a medical bill, and how long it takes to get there.
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₹1,90,000 to go: at ₹10,000 a month that is 1 year 7 months.
- Still to set aside₹1,90,000
- Time to get there1 year 7 months
- Months covered today1.2
How this is worked out
- Target = essential spending a month × months to cover.
- Time = (target − already set aside) ÷ what you add each month, rounded up.
Assumptions
- Essentials are rent, food, bills, EMIs, school fees and insurance: what you would still pay without an income.
- Keep it where you can reach it within a day, such as a savings account, a sweep-in FD or a liquid fund.
The formula
Target = essential spending a month × months to cover
Months to get there = (target − already set aside) ÷ monthly saving
- Essential spending: rent, food, bills, EMIs, school fees and insurance premiums
The time is rounded up to whole months.
A worked example
With ₹40,000 of essentials a month, a 6-month fund is ₹2,40,000. Holding ₹50,000 and adding ₹10,000 a month, it takes 1 year 7 months.
Questions people ask
How many months of expenses should an emergency fund cover?
Commonly three to six months of essential spending, and more if your income is irregular, you support others, or one person earns for the household. Pick the months that let you sleep, then work towards them.
Where should I keep my emergency fund?
Somewhere you can reach within a day without a large penalty: a savings account, a sweep-in fixed deposit or a liquid fund. Bank deposits are insured by DICGC up to five lakh per bank.
Should I build an emergency fund before investing?
Usually yes. Without one, a sudden bill can force you to sell investments at a bad time or borrow on a credit card at a high rate. Many people build a few months first and then invest alongside.
From the Savingy Guide
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Sources
Estimates are for illustration only and assume constant returns. Actual returns vary with market conditions. This is not investment advice.