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§ Calculator · Savings
Emergency fund
Standard guideline: 3 months of fixed costs for stable dual-income households, 6 months for single income / variable income.
What this is
Why an emergency fund?
Cash buffer that covers your fixed costs if income stops (layoff, illness, surprise bill). Lets you make decisions from a position of safety instead of panic.
- ·3 months of fixed costs is the floor — works for stable dual-income households with steady jobs.
- ·6 months is the standard — single income, variable income (consulting, commission, gig), or single-earner family.
- ·Keep it in a HISA (3.5-4% in 2026) — separate from chequing so you don't accidentally spend it.
Target
$19,200
You have
$8,000
Months covered
2.5
Gap
$11,200
Insufficient buffer
Educational guideline. Not financial advice. Cash should sit in a HISA (3.5-4% range as of 2026), separate from chequing so you don't accidentally spend it.