How much do I need for emergencies?

It is prudent planning to have at least three to six months of liquid/cash assets set aside in the event of a loss of job, medical emergency, short-term disability, etc. Use this calculator to help determine how much you need to set aside monthly or as a lump sum to create an emergency fund.

Assumptions

Current gross monthly income ($)

Current emergency funds available ($)

Number of months for funds to last (1 to 360)

Before tax return on savings (-12% to 12%) help

Marginal tax bracket (0% to 75%) help

Number of months to accumulate funds (1 to 360)

Expenses

Total monthly living expenses, if plan to itemize below then leave at 0. ($)

Or Itemize Monthly

Mortgage payment or rent ($)

Vacation home (mortgage) ($)

Automobile loan(s) ($)

Personal loan(s) ($)

Charge accounts ($)

Federal income taxes ($)

State income taxes ($)

FICA (social security taxes) ($)

Real estate taxes ($)

Other taxes ($)

Utilities ($)

Household repairs and maintenance ($)

Food ($)

Clothing and laundry ($)

Educational expenses ($)

Child care ($)

Automobile expenses (gas, repairs, etc.) ($)

Other transportation expenses ($)

Life insurance premiums ($)

Homeowners (renters) insurance ($)

Automobile insurance ($)

Medical, dental and disability insurance ($)

Entertainment and dining ($)

Recreation and travel ($)

Club dues ($)

Hobbies ($)

Gifts ($)

Major home improvements and furnishings ($)

Professional services ($)

Charitable contributions ($)

Other and miscellaneous expenses ($)

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This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. Marquis, Inc., First Horizon Bank, and its affiliated companies do not assume any fiduciary duties and do not provide any investment advice in providing calculations. Calculations provided may differ from calculations made by other commercial or financial institutions or entities. In addition, such service should not be relied upon as the only source of information. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. Use of service is provided without warranty of any kind, either express, implied or statutory, including FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, AND ACCURACY. Use of service is entirely at the user's own risk, and user should seek professional financial and legal advice without reliance on service and calculations. Marquis, Inc., First Horizon Bank, and its affiliated companies shall not be liable for any differences in calculations with other financial institutions or entities, lost profits, lost business, losses of any kind, direct or indirect damages, punitive or consequential damages or damages of any kind arising out of the use of this service. User agrees to indemnify and hold Marquis, Inc., First Horizon Bank, and its affiliated companies harmless from any and all liabilities and costs (including attorney fees) for any improper use or violation of these terms.