Emergency fund calculator
Get a target for your cash cushion in months of essential costs, matched to your job and household, and see when you'll get there.
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Aim for €6,400, 4 months of essential costs.
You have €2,000; €4,400 to go. At €250 a month you get there in 1 year 6 months.
- Target
- €6,400
- Your cash covers
- 1.3 months
- Still to save
- €4,400
- Time to fill
- 1 year 6 months
4 months, on instant access
- Already saved€2,000
- Still to save€4,400
- Cash
- Target
What if… time to fill
See the figures
| Reason | Months |
|---|---|
| Base for a secure job | 3 |
| No second income to lean on | +1 |
| Recommended | 4 |
| × essential costs of €1,600 | €6,400 |
Next step
How the calculator works
An emergency fund pays for what you can’t stop paying when income stops or a big bill arrives. So the calculator measures it in months of essential costs: rent or mortgage, energy, insurance, food, loan payments and transport. Holidays, eating out and saving don’t count; you would cut them first.
The number of months follows a simple rule:
| Situation | Months |
|---|---|
| Base, for a secure job | 3 |
| Living alone, no second income to lean on | +1 |
| Couple living on one income | +2 |
| Fixed-term contract | +1 |
| Self-employed or freelance | +3 |
| Civil servant (no job loss) | −1 |
| Children in the household | +1 |
| Own home (repairs no landlord pays) | +1 |
The result never drops below 3 or rises above 12 months. Months × essential costs is your target. The calculator then subtracts the cash you have and divides the gap by what you can put aside each month, rounding up to whole months. Interest on the savings account is not counted, which keeps the estimate on the safe side.
Example: living alone, €1,600 a month
Someone living alone with a permanent contract and €1,600 of essential costs gets a target of 4 months: €6,400. With €2,000 already saved, €4,400 are missing. Putting aside €250 a month fills the gap in 1 year 6 months.
As a freelancer the same person would aim for 7 months, €11,200. A family with two incomes, in its own home and with €3,200 of essential costs, would aim for 5 months: €16,000.
Where to keep it
Keep the fund in an instant-access savings account (Tagesgeld in German) at a bank covered by statutory deposit protection, up to €100,000 per person and bank. A separate account helps: the money is out of sight in daily life but there within a day. A fixed-term deposit, shares or ETFs are not suited: they lock the money or can be worth less exactly when you need it. Above the target, money you don’t need for planned purchases can be invested; the ETF savings plan calculator shows what it could grow to.
When to use it, and refill it
Use the fund for the things it is for: losing income, a repair, a medical or legal bill. Planned expenses, like a new car or a move, need their own savings goal. After you dip into it, fill it again first, before investing more. Check the target once a year: costs rise with inflation, and a child, a home or a new job changes the months you need.
How to build it faster
- Automate it. A standing order on payday moves the monthly amount to the savings account before you can spend it.
- Use one-off money. A tax refund, a bonus or holiday and Christmas pay (Urlaubs- and Weihnachtsgeld) can fill months of the gap at once.
- Look at fixed costs. Lower essential costs help twice: the target shrinks and you can save more. Energy, insurance, phone contracts and unused subscriptions are the usual places to look.
- Start with one month. If the full target feels far away, a first month of essential costs already keeps most surprises off the overdraft.
What it can’t see
The calculator works with a rule of thumb. It doesn’t know what your insurance pays (unemployment benefit, sick pay or income protection), whether a partner could cover your share, or which big costs are already coming. It also doesn’t know about debt: with an expensive overdraft, the debt payoff calculator helps decide what to pay first. Zenarios sees all of it in one plan, so your cushion fits the rest of your finances.
Common questions
How big should an emergency fund be?
Three months of essential costs is the base for a household with a secure income. Add a month if you live alone, two if a couple lives on one income, one for a fixed-term contract, three if you are self-employed, one with children and one if you own your home. The calculator keeps the result between 3 and 12 months. A common German rule of thumb, two to three months' net pay, lands in the same range for many employees.
Where should I keep my emergency fund?
In an instant-access savings account (Tagesgeld), separate from your current account so it doesn't get spent, but available within a day or two. German statutory deposit protection covers up to €100,000 per person and bank. Shares or ETFs are no place for it: they can be down just when you need the money.
How much should a self-employed person keep?
At least six months of essential costs in this calculator: the 3-month base plus 3, because income swings and there is usually no unemployment benefit. Keep money for income tax and VAT due separately; it is not part of the cushion.
Doesn't unemployment benefit cover me?
Partly. Arbeitslosengeld I pays 60 % of a flat-rate net pay, 67 % with children, and only after you qualify. The cushion covers the difference and the costs no benefit pays, like a broken car or a dentist's bill.
Should I pay off debt or build the fund first?
A small buffer first, so the next surprise doesn't land on the overdraft. Then overdraft and credit card debt usually cost more than any savings account pays, so paying them off is worth more; after that, fill the rest of the fund. The debt payoff calculator shows the order.