See your months of runway, how long to build your target fund, what happens if you lose your job, and the best place to keep it earning interest.
Estimates only. Unemployment benefit amounts and durations vary by state. Not financial advice.
This calculator answers five practical questions about your emergency fund: how many months of expenses you can currently cover, how long it will take to reach your target, what happens in different job loss scenarios, how large your fund should be for your specific situation, and where to keep it to earn meaningful interest.
Use essential expenses only — rent or mortgage, utilities, groceries, minimum debt payments, insurance, and basic transportation. Do not include dining out, subscriptions, entertainment, or discretionary spending. An emergency fund covers survival, not your current lifestyle.
A $15,000 emergency fund in a 4.5% HYSA earns about $675 per year passively. The same money in a typical checking account earns about $15. That $660 difference compounds over time and costs nothing extra. The only reason not to keep an emergency fund in a HYSA is if your bank requires a minimum notice period for withdrawals — always confirm funds are accessible within 1–2 business days.
Three months is the minimum for a stable dual-income household with predictable expenses. Six months is appropriate for single-income households, anyone with dependents, or jobs where re-employment could take several months. Freelancers and the self-employed who receive no unemployment benefits should target 9–12 months of essential expenses.