Emergency Fund Calculator

What is an emergency fund?

An emergency fund is money you save to cover unexpected expenses that may occure in your life. This could be a sudden loss of income, unexpected house or car repairs, costs not covered by your insurance.

The emergency fund is fundamental for managing the financial risks of your lifestyle and an essential part of building your wealth. Use LyfStyled’s Emergency Fund Calculator as the first step to build your wealth. Find out how much you money need to cover the essential life expenses at each phase of your life.

Essential Expenses

Months

This is the number of months your emergency fund needs to cover. We recommend taking your age or and other lifestyle circumstances into account.

Early Career (20s-30s): Build an emergency fund that covers 3-6 months of essential lifestyle expenses.

Family Stage (30s-50s): Increase your fund to cover 6-9 months of essential lifestyle expenses.

Later Years (50s+): Maintain a 9-12 month fund of essential lifestyle expenses.

Recurring Expenses

A recurring expense/charge is a cost that happens regularly (ie each month/bi-weekly) and is necessary to maintain your current lifestyle. Think about:

Rent or mortgage repayments
Insurances (Car, Home, Health etc)
Essential Subscriptions (Communication)
Other (Dependents, Groceries)

Personal Care

Taking care of yourself is not a luxury. It’s a necessity that directly impacts your physical health, mental well-being, and ability to perform at your best in both personal and professional settings. Think about: