Know how much to save each month to reach your emergency goal
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Emergency Fund Calculator – Monthly Savings Planner
Saving for an emergency fund doesn’t happen at once, especially for the average Indian family. That’s also why we developed the Emergency Fund Monthly Savings Planner. It is a smart calculator that allows you to assess how much you need to save on a monthly basis in order to reach your emergency fund goal.
Why Monthly Savings Make More Sense in India
Most families in India will not have large amounts of savings that can be set aside quickly – instead it is more realistic for them to build an emergency fund over time.
When you save a fixed amount every month, you can prepare for:
- Medical expenses that may be unexpected
- Loss of a job or a fall in business
- Family emergencies
- Car or home repairs
Even a small amount saved will add up over time – consistency is the story.
How This Calculator Will Help You
With the calculator, you enter your intended emergency fund amount (for instance, ₹3,00,000), how many months you want to reach this goal and your income every month. The calculator will give you back, immediately:
- Monthly saving required
- % of your income
- A practical suggestion if your target looks too ambitious
This helps you to plan better – and to ensure you are not going to stretch the limits of your budget.
Start Your Emergency Fund Journey
Whether you’re a salaried employee, freelancer, or small business owner, this calculator empowers you to take the first step. Remember, saving gets you to a strong safety net!
Frequently Asked Questions (FAQs)
1. What is an Emergency Fund Monthly Savings Planner?
It is a calculator that allows you to know how much to save each month in order to reach your emergency fund goal in a specified timeframe.
2. Who should use this calculator?
Everyone in India who wants to have a financial safety net, in particular folks who may not be able to set aside a lump sum amount in one shot.
3. How does this calculator work?
You enter the amount you want in your fund, timeframe (in months), and your monthly income. It will tell you how much to save, and what % of income that amount is.
4. What if the saving amount is ridiculously high?
You will get a warning that indicates it is “too aggressive”. You would then adjust your timeframe to be longer, or reduce the goal to have a realistic plan.
5. How is this different from other emergency fund calculators?
Most calculators just tell you the amount you should be saving. This calculator will tell you how you will get there per your income and time plan.
6. Do I need to show my total income in the form?
Yes, having your monthly income is useful for the calculator to show what % of your total income you would need to save (which is useful in determining feasibility).
7. Is it safe to use it online?
Yes. This calculator runs client side within your browser and does not store or send any data anywhere.
8. What’s a realistic time horizon to build an emergency savings plan?
Typically speaking, 12 – 36 months is ideal. Anything less than 6 months will likely make your budget uncomfortable.
9. Should I set up my emergency savings on autopilot?
Absolutely. Set up a monthly SIP on a liquid fund or a recurring deposit so you can save consistently without thinking about it.
10. Can I use this planner if I already have savings?
Yes. Just deduct any money you have saved from your target amount and then put whatever’s left in the calculator.
Disclaimer: This monthly savings planner provides an estimate of how much you should save monthly to reach your emergency fund goal. It does not take into account changes in income, inflation, or other financial obligations. Use this tool as a general guide only. For tailored advice, consult a professional financial advisor.