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Building an emergency fund: Calculate how much to save

Saving for a rainy day, whether medical mishap or loss of income, requires regular contributions.

Many financial advisers agree that it’s best to have an emergency saving fund that’s equal to 3 - 6 months of your expenses. Our calculator will help you identify what your monthly expenses are so you can determine what could be a good emergency fund amount. After you have determined your total monthly expenses you can multiply that amount by the number of months you’d like to have an emergency account for.

Build an emergency fund: How much to save

All fields are required. If something doesn't apply, place 0 in the field.

Job loss

Emergencies

Deductibles

 

Results

Savings for job loss
$0
Savings needed for emergencies
$0
Savings needed for deductibles
$0
Total target amount
$0
Number of months to save
0
Loading result

Neither State Farm® nor its agents provide tax or legal advice. This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. Please consult your own adviser regarding your particular circumstances.



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