Emergency Fund Target Worksheet: Find Your Number

In this worksheet

Key points: An interactive emergency fund calculator plus a printable worksheet that turn "how much should I have saved?" into three clear numbers.

Who it's for: You, if you know you need a safety net but have no idea what your number is, or how long it would take to get there.

What you'll walk away with: Your one month of essentials, your target, a weekly savings pace, and a timeline for each milestone.

How much should I have saved? It's one of the most common money questions there is, and the usual answer, "three to six months of expenses," raises two more: Which expenses? And how would I ever get there?

This worksheet answers both, for your real life, in about 15 minutes.

What You'll Find Out

• Your one month of essentials. Not everything you spend, just what you'd still have to pay in a tough month: housing, utilities, food, transportation, insurance, childcare, the minimum due on your credit cards and other debts, and the giving you've committed to. It's smaller and more reachable than you might expect.
• Your target. Starter ($500), Steady ($1,000), Secure (one month of essentials), and your full safety net at 3 or 6 months.
• Your timeline. How long each milestone takes at a weekly amount you can actually keep.

An emergency fund is money set aside only for true surprises: a car repair, an urgent medical bill, a short gap in pay. Its one job is to keep a bad week from turning into new debt.

How many months is right for you?

Lean toward 3 months if your paycheck is steady or your household has two incomes. Lean toward 6 months or more if you're the only income, others depend on you, or your income changes month to month. Either way, you don't start at the end. You start with $500.

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