Emergency Fund Calculator
Determine exactly how much you should have in your emergency fund with this personalized calculator. Factor in your monthly expenses, job stability, dependents, health considerations, and current savings to get a tailored recommendation. See how long it will take to reach your goal and track your progress. Perfect for financial advisors, banks, and personal finance websites helping people build financial security.
Try the Calculator
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export function emergencyFundCalculator(form: FormTs) {
form.addRow(row => {
row.addTextPanel('header', {
computedValue: () => 'Emergency Fund Calculator',
customStyles: { 'font-size': '1.5rem', 'font-weight': '600', 'color': '#1e293b' }
});
});
form.addSpacer({ height: 20 });
// Monthly Expenses Section
const expensesSection = form.addSubform('expenses', { title: 'Monthly Expenses' });
expensesSection.addRow(row => {
row.addMoney('housing', {
label: 'Housing (Rent/Mortgage)',
min: 0,
max: 50000,
defaultValue: 1500,
isRequired: true,
tooltip: 'Monthly rent or mortgage payment'
}, '1fr');
row.addMoney('utilities', {
label: 'Utilities',
min: 0,
max: 5000,
defaultValue: 200,
tooltip: 'Electric, gas, water, internet, phone'
}, '1fr');
});
expensesSection.addRow(row => {
row.addMoney('food', {
label: 'Food & Groceries',
min: 0,
max: 10000,
defaultValue: 600,
tooltip: 'Monthly grocery and dining expenses'
}, '1fr');
row.addMoney('transportation', {
label: 'Transportation',
min: 0,
max: 5000,
defaultValue: 400,
tooltip: 'Car payment, insurance, gas, public transit'
}, '1fr');
});
expensesSection.addRow(row => {
row.addMoney('insurance', {
label: 'Insurance (Health, Life)',
min: 0,
max: 10000,
defaultValue: 300,
tooltip: 'Health insurance, life insurance premiums'
}, '1fr');
row.addMoney('debtPayments', {
label: 'Minimum Debt Payments',
min: 0,
max: 20000,
defaultValue: 200,
tooltip: 'Credit cards, student loans, personal loans'
}, '1fr');
});
expensesSection.addRow(row => {
row.addMoney('otherExpenses', {
label: 'Other Essential Expenses',
min: 0,
max: 20000,
defaultValue: 300,
tooltip: 'Childcare, medications, subscriptions, etc.'
});
});
// Risk Factors Section
const riskSection = form.addSubform('risk', { title: 'Your Situation' });
riskSection.addRow(row => {
row.addDropdown('incomeStability', {
label: 'Income Stability',
options: [
{ id: 'very-stable', name: 'Very Stable (Government, tenured)' },
{ id: 'stable', name: 'Stable (Salaried employee)' },
{ id: 'moderate', name: 'Moderate (Contract, commission-based)' },
{ id: 'variable', name: 'Variable (Freelance, seasonal)' },
{ id: 'unstable', name: 'Unstable (Gig economy, new business)' }
],
defaultValue: 'stable',
isRequired: true,
tooltip: 'How predictable is your income?'
}, '1fr');
row.addDropdown('incomeEarners', {
label: 'Household Income Earners',
options: [
{ id: 'single', name: 'Single Income' },
{ id: 'dual', name: 'Dual Income' }
],
defaultValue: 'single',
tooltip: 'Does your household have one or two earners?'
}, '1fr');
});
riskSection.addRow(row => {
row.addInteger('dependents', {
label: 'Number of Dependents',
min: 0,
max: 20,
defaultValue: 0,
tooltip: 'Children, elderly parents, or others who depend on you'
}, '1fr');
row.addDropdown('healthStatus', {
label: 'Health Considerations',
options: [
{ id: 'excellent', name: 'Excellent - No ongoing issues' },
{ id: 'good', name: 'Good - Minor concerns' },
{ id: 'moderate', name: 'Moderate - Ongoing conditions' },
{ id: 'significant', name: 'Significant - High medical costs' }
],
defaultValue: 'good',
tooltip: 'Do you have health issues that could lead to unexpected costs?'
}, '1fr');
});
riskSection.addRow(row => {
row.addDropdown('jobMarket', {
label: 'Job Market for Your Field',
options: [
{ id: 'high-demand', name: 'High Demand - Easy to find work' },
{ id: 'moderate', name: 'Moderate - Average job market' },
{ id: 'competitive', name: 'Competitive - Harder to find work' },
{ id: 'specialized', name: 'Specialized - Very few opportunities' }
],
defaultValue: 'moderate',
tooltip: 'How quickly could you find a new job if needed?'
});
});
// Current Savings Section
const savingsSection = form.addSubform('savings', { title: 'Current Savings' });
savingsSection.addRow(row => {
row.addMoney('currentEmergencyFund', {
label: 'Current Emergency Savings',
min: 0,
max: 1000000,
defaultValue: 5000,
tooltip: 'Amount currently saved for emergencies'
}, '1fr');
row.addMoney('monthlySavings', {
label: 'Monthly Amount You Can Save',
min: 0,
max: 50000,
defaultValue: 500,
tooltip: 'How much can you put toward your emergency fund monthly?'
}, '1fr');
});
form.addSpacer({ height: 20, showLine: true, lineStyle: 'dashed' });
// Results Section
const resultsSection = form.addSubform('results', { title: 'Your Emergency Fund Goal' });
resultsSection.addRow(row => {
row.addPriceDisplay('monthlyExpenses', {
label: 'Total Monthly Expenses',
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
return housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
},
variant: 'default'
}, '1fr');
row.addTextPanel('monthsRecommended', {
label: 'Months Recommended',
computedValue: () => {
const incomeStability = riskSection.dropdown('incomeStability')?.value() || 'stable';
const incomeEarners = riskSection.dropdown('incomeEarners')?.value() || 'single';
const dependents = riskSection.integer('dependents')?.value() || 0;
const healthStatus = riskSection.dropdown('healthStatus')?.value() || 'good';
const jobMarket = riskSection.dropdown('jobMarket')?.value() || 'moderate';
let baseMonths = 3;
// Income stability factor
const stabilityFactors: Record<string, number> = {
'very-stable': 0,
'stable': 1,
'moderate': 2,
'variable': 3,
'unstable': 4
};
baseMonths += stabilityFactors[incomeStability] || 1;
// Dual income reduces need
if (incomeEarners === 'dual') {
baseMonths -= 1;
}
// Dependents increase need
baseMonths += Math.min(dependents, 3);
// Health factors
const healthFactors: Record<string, number> = {
'excellent': 0,
'good': 0,
'moderate': 1,
'significant': 2
};
baseMonths += healthFactors[healthStatus] || 0;
// Job market factors
const jobFactors: Record<string, number> = {
'high-demand': -1,
'moderate': 0,
'competitive': 1,
'specialized': 2
};
baseMonths += jobFactors[jobMarket] || 0;
// Ensure reasonable bounds
baseMonths = Math.max(3, Math.min(baseMonths, 12));
return `${baseMonths} months`;
},
customStyles: { 'font-size': '1.5rem', 'font-weight': '600', 'text-align': 'center', 'color': '#0284c7' }
}, '1fr');
});
resultsSection.addRow(row => {
row.addPriceDisplay('targetFund', {
label: 'Target Emergency Fund',
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
const monthlyTotal = housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
const incomeStability = riskSection.dropdown('incomeStability')?.value() || 'stable';
const incomeEarners = riskSection.dropdown('incomeEarners')?.value() || 'single';
const dependents = riskSection.integer('dependents')?.value() || 0;
const healthStatus = riskSection.dropdown('healthStatus')?.value() || 'good';
const jobMarket = riskSection.dropdown('jobMarket')?.value() || 'moderate';
let baseMonths = 3;
const stabilityFactors: Record<string, number> = {
'very-stable': 0,
'stable': 1,
'moderate': 2,
'variable': 3,
'unstable': 4
};
baseMonths += stabilityFactors[incomeStability] || 1;
if (incomeEarners === 'dual') {
baseMonths -= 1;
}
baseMonths += Math.min(dependents, 3);
const healthFactors: Record<string, number> = {
'excellent': 0,
'good': 0,
'moderate': 1,
'significant': 2
};
baseMonths += healthFactors[healthStatus] || 0;
const jobFactors: Record<string, number> = {
'high-demand': -1,
'moderate': 0,
'competitive': 1,
'specialized': 2
};
baseMonths += jobFactors[jobMarket] || 0;
baseMonths = Math.max(3, Math.min(baseMonths, 12));
return monthlyTotal * baseMonths;
},
variant: 'large'
});
});
// Progress Section
const progressSection = form.addSubform('progress', { title: 'Your Progress' });
progressSection.addRow(row => {
row.addPriceDisplay('currentSaved', {
label: 'Currently Saved',
computedValue: () => {
return savingsSection.money('currentEmergencyFund')?.value() || 0;
},
variant: 'success'
}, '1fr');
row.addPriceDisplay('amountNeeded', {
label: 'Still Needed',
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
const monthlyTotal = housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
const incomeStability = riskSection.dropdown('incomeStability')?.value() || 'stable';
const incomeEarners = riskSection.dropdown('incomeEarners')?.value() || 'single';
const dependents = riskSection.integer('dependents')?.value() || 0;
const healthStatus = riskSection.dropdown('healthStatus')?.value() || 'good';
const jobMarket = riskSection.dropdown('jobMarket')?.value() || 'moderate';
let baseMonths = 3;
const stabilityFactors: Record<string, number> = {
'very-stable': 0,
'stable': 1,
'moderate': 2,
'variable': 3,
'unstable': 4
};
baseMonths += stabilityFactors[incomeStability] || 1;
if (incomeEarners === 'dual') {
baseMonths -= 1;
}
baseMonths += Math.min(dependents, 3);
const healthFactors: Record<string, number> = {
'excellent': 0,
'good': 0,
'moderate': 1,
'significant': 2
};
baseMonths += healthFactors[healthStatus] || 0;
const jobFactors: Record<string, number> = {
'high-demand': -1,
'moderate': 0,
'competitive': 1,
'specialized': 2
};
baseMonths += jobFactors[jobMarket] || 0;
baseMonths = Math.max(3, Math.min(baseMonths, 12));
const targetFund = monthlyTotal * baseMonths;
const currentSaved = savingsSection.money('currentEmergencyFund')?.value() || 0;
return Math.max(0, targetFund - currentSaved);
},
variant: 'default'
}, '1fr');
});
progressSection.addRow(row => {
row.addTextPanel('progressPercent', {
label: 'Progress',
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
const monthlyTotal = housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
const incomeStability = riskSection.dropdown('incomeStability')?.value() || 'stable';
const incomeEarners = riskSection.dropdown('incomeEarners')?.value() || 'single';
const dependents = riskSection.integer('dependents')?.value() || 0;
const healthStatus = riskSection.dropdown('healthStatus')?.value() || 'good';
const jobMarket = riskSection.dropdown('jobMarket')?.value() || 'moderate';
let baseMonths = 3;
const stabilityFactors: Record<string, number> = {
'very-stable': 0,
'stable': 1,
'moderate': 2,
'variable': 3,
'unstable': 4
};
baseMonths += stabilityFactors[incomeStability] || 1;
if (incomeEarners === 'dual') {
baseMonths -= 1;
}
baseMonths += Math.min(dependents, 3);
const healthFactors: Record<string, number> = {
'excellent': 0,
'good': 0,
'moderate': 1,
'significant': 2
};
baseMonths += healthFactors[healthStatus] || 0;
const jobFactors: Record<string, number> = {
'high-demand': -1,
'moderate': 0,
'competitive': 1,
'specialized': 2
};
baseMonths += jobFactors[jobMarket] || 0;
baseMonths = Math.max(3, Math.min(baseMonths, 12));
const targetFund = monthlyTotal * baseMonths;
const currentSaved = savingsSection.money('currentEmergencyFund')?.value() || 0;
if (targetFund === 0) return '0%';
const percent = Math.min(100, Math.round((currentSaved / targetFund) * 100));
return `${percent}% funded`;
},
customStyles: { 'font-size': '1.25rem', 'font-weight': '600', 'text-align': 'center', 'color': '#059669' }
}, '1fr');
row.addTextPanel('timeToGoal', {
label: 'Time to Goal',
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
const monthlyTotal = housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
const incomeStability = riskSection.dropdown('incomeStability')?.value() || 'stable';
const incomeEarners = riskSection.dropdown('incomeEarners')?.value() || 'single';
const dependents = riskSection.integer('dependents')?.value() || 0;
const healthStatus = riskSection.dropdown('healthStatus')?.value() || 'good';
const jobMarket = riskSection.dropdown('jobMarket')?.value() || 'moderate';
let baseMonths = 3;
const stabilityFactors: Record<string, number> = {
'very-stable': 0,
'stable': 1,
'moderate': 2,
'variable': 3,
'unstable': 4
};
baseMonths += stabilityFactors[incomeStability] || 1;
if (incomeEarners === 'dual') {
baseMonths -= 1;
}
baseMonths += Math.min(dependents, 3);
const healthFactors: Record<string, number> = {
'excellent': 0,
'good': 0,
'moderate': 1,
'significant': 2
};
baseMonths += healthFactors[healthStatus] || 0;
const jobFactors: Record<string, number> = {
'high-demand': -1,
'moderate': 0,
'competitive': 1,
'specialized': 2
};
baseMonths += jobFactors[jobMarket] || 0;
baseMonths = Math.max(3, Math.min(baseMonths, 12));
const targetFund = monthlyTotal * baseMonths;
const currentSaved = savingsSection.money('currentEmergencyFund')?.value() || 0;
const monthlySavings = savingsSection.money('monthlySavings')?.value() || 0;
const remaining = targetFund - currentSaved;
if (remaining <= 0) return 'Goal reached!';
if (monthlySavings <= 0) return 'Start saving to see timeline';
const monthsToGoal = Math.ceil(remaining / monthlySavings);
if (monthsToGoal <= 12) {
return `${monthsToGoal} month${monthsToGoal !== 1 ? 's' : ''}`;
} else {
const years = Math.floor(monthsToGoal / 12);
const remainingMonths = monthsToGoal % 12;
if (remainingMonths === 0) {
return `${years} year${years !== 1 ? 's' : ''}`;
}
return `${years}y ${remainingMonths}m`;
}
},
customStyles: { 'font-size': '1.25rem', 'font-weight': '600', 'text-align': 'center', 'color': '#0284c7' }
}, '1fr');
});
// Summary Section
const summarySection = form.addSubform('summary', {
title: 'Recommendation',
isCollapsible: false,
sticky: 'bottom'
});
summarySection.addRow(row => {
row.addTextPanel('summaryText', {
computedValue: () => {
const housing = expensesSection.money('housing')?.value() || 0;
const utilities = expensesSection.money('utilities')?.value() || 0;
const food = expensesSection.money('food')?.value() || 0;
const transportation = expensesSection.money('transportation')?.value() || 0;
const insurance = expensesSection.money('insurance')?.value() || 0;
const debtPayments = expensesSection.money('debtPayments')?.value() || 0;
const otherExpenses = expensesSection.money('otherExpenses')?.value() || 0;
const monthlyTotal = housing + utilities + food + transportation + insurance + debtPayments + otherExpenses;
const currentSaved = savingsSection.money('currentEmergencyFund')?.value() || 0;
const currentMonths = monthlyTotal > 0 ? (currentSaved / monthlyTotal) : 0;
if (currentMonths >= 6) {
return 'Excellent! You have a solid emergency fund. Consider investing any additional savings.';
} else if (currentMonths >= 3) {
return 'Good progress! Keep building toward your full goal for greater security.';
} else if (currentMonths >= 1) {
return 'You have a start. Prioritize reaching at least 3 months of expenses.';
} else {
return 'Building an emergency fund should be a top priority. Start with a goal of $1,000, then build from there.';
}
},
customStyles: { 'font-size': '0.95rem', 'font-weight': '500', 'text-align': 'center', 'color': '#1e293b' }
});
});
summarySection.addRow(row => {
row.addTextPanel('disclaimer', {
computedValue: () => 'This calculator provides general guidance. Your actual needs may vary based on personal circumstances.',
customStyles: { 'font-size': '0.8rem', 'color': '#64748b', 'text-align': 'center' }
});
});
form.configureSubmitButton({
label: 'Save My Plan'
});
}
Frequently Asked Questions
How much should I have in my emergency fund?
Most experts recommend 3-6 months of essential expenses. However, those with variable income, dependents, or specialized careers may need 6-12 months. This calculator personalizes the recommendation based on your situation.
What counts as an emergency?
True emergencies include job loss, major medical expenses, essential car or home repairs, and unexpected family obligations. Sales, vacations, and predictable expenses are not emergencies.
Where should I keep my emergency fund?
Keep your emergency fund in a high-yield savings account that's easily accessible but separate from your checking account. Avoid investments that could lose value when you need the money most.
Should I pay off debt or build an emergency fund first?
Start with a small emergency fund ($1,000-$2,000) to avoid going deeper into debt for minor emergencies. Then focus on high-interest debt, then complete your full emergency fund.