How Much Should I Have in Savings?
A widely used guideline is to keep about 3–6 months of expenses in savings. If you spend $3,000 a month, that’s roughly $9,000–$18,000. Check your own cushion below.
Keep about 3–6 months of expenses in savings — on $3,000/month of spending, that’s about $9,000–$18,000.
Enter your monthly expenses and current balance below to see how many months of cushion you have. Check your number ↓
Keep this money liquid — a checking or high-yield savings account, not investments you might have to sell at a loss.
How you compare
Months of expenses your balance covers vs. the guideline
How big should your cushion be?
The standard rule of thumb is 3–6 months of essential expenses set aside in cash you can reach quickly. Toward the lower end works if your income is stable and predictable; lean higher if you’re self-employed, a single earner, or your income varies. This is separate from retirement savings — it’s the buffer that keeps an unexpected bill or job gap from turning into debt.
How it’s calculated
Targets = 3 and 6 × your monthly expenses. Your cushion = current balance ÷ monthly expenses, expressed in months. The gauge compares your months of coverage to the 3–6-month range.
A guideline, not advice — the right cushion depends on your job security, dependents, and fixed costs.
Frequently asked questions
Where should I keep it?
Somewhere safe and liquid — a high-yield savings account is ideal, so it earns interest but stays instantly available.
Expenses or income?
Base it on essential monthly expenses (housing, food, utilities, minimum debt payments), not gross income — that’s what you’d actually need to cover.