An emergency fund is a savings account that you can use in times of financial difficulty. This emergency fund calculator can help you estimate exactly how much you will need to save for your emergency fund to last your desired timeframe. With its detailed breakdown of the incomes and expenses this tool can show you areas that have the potential for reductions in spending. This tool differs from other emergency fund calculators as it has a future event facility which allows you to forecast your savings into the fund, with a summary of how much the funds will last. An example of how this would be beneficial would be in anticipation of a future job loss due to COVID19.
Emergency Fund Questions
What is your current emergency fund balance?
How many months do you think you have until the fund is needed?
What % of your net disposable income will you save until that point?
Net Remuneration
Monthly net allowances income
Monthly net commission income
Monthly net subsidy income
Monthly net other income total
(A)
Net remuneration total
Net Other Income
Monthly net child support income
Monthly net dividend income
Monthly net pension income
(B)
Other income total
Operational Expenses
Monthly cleaning expenses
Monthly clothing expenses
Monthly donation expenses
Monthly education expenses
Monthly entertainment and dining out expenses
Monthly gardening expenses
Monthly groceries expenses
Monthly investment expenses
Monthly life insurance expenses
Monthly medical insurance expenses
Monthly maintenance payment expenses
Monthly medical expenses
Monthly memberships expenses
Monthly property tax expenses
Monthly rent paid expenses
Monthly repairs/maintenance expenses
Monthly subscription-based services expenses
Monthly utility expenses (power etc)
Monthly vehicle fuel expenses
Monthly vehicle maintenance expenses
Monthly vehicle insurance expenses
Monthly other operational expenses
(C)
Total operational expenses
Financing Expenses
Monthly bank charges expenses
Monthly credit card repayment expenses
Monthly technology financing expenses
Monthly furniture financing expenses
Monthly vehicle financing expenses
Monthly mortgage repayment expenses
Monthly personal loan payment expenses
Monthly other financing expenses
(D)
Total financing expenses
Net Disposable Income Calculation
Monthly net remuneration total (A)
Monthly net other income total (B)
Net incomes total
Monthly net operational expenses total (C)
Monthly net financing expenses total (D)
Net expenses total
Monthly net disposable income
Emergency Fund New Balance Summary:
Net disposable saving at % of $ each month
Amount saved additionally until the fund is needed in months
New total emergency fund balance after additional months of saving
Emergency Fund Drawdown Summary:
Number of month emergency fund balance of $ will last with expenses per month of $
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