How much should your emergency fund be?

The common guideline is three to six months of essential expenses. The right number for you depends on how steady your income is and who depends on it.

Count essentials only

• Housing and utilities
• Groceries
• Transportation to work
• Insurance premiums
• Minimum debt payments
• Childcare and medications
• Leave out things you'd cut in an emergency: eating out, subscriptions, extra savings

Aim higher if

• Your income is irregular, seasonal or commission-based
• You're the only earner, or you have dependents
• Your job would be hard to replace quickly
• You own an older home or car

Aim lower to start if

You're paying off high-interest debt. Many people build a small starter fund first, then focus on debt, then grow the fund. Try our emergency fund calculator to see your number.

General educational information, not financial advice. Stretching Funds Today isn't paid by any bank or company.