How much should I set aside for emergencies?
Inputs Next Steps

Uninsured or unexpected emergencies
Medical & dental costs
$
Legal suits
$
Auto repairs
$
Property damage
$
Other losses or expenses
$

Insurance deductibles
Medical
$
Auto
$
Property
$
Other
$

Loss of job or income
Monthly living expenses
$
Months unemployed

Savings you can use
Current savings
$
Savings rate
%
Federal & state tax rate
%
Amount you can save monthly
$

This tool shows how much you need to save, in total and on a monthly basis, to create an emergency reserve fund for unanticipated expenses or loss of income.


Note: This tool is meant to estimate emergency expenses for a minor incident. It is not intended to calculate incidents that may cause a long-term disability. Because of the nature of unexpected emergencies, the amount estimated here is very rough and may be overly simplified for major incidents.
Tax rates: The percentage of your taxable income that is owed to the state and federal governments. The tax rate increases as the taxable base amount increases.
Deductible: A deductible is the dollar amount that you must pay on an insurance policy before the insurance company begins to pay your claim. A higher deductible means you pay more before the insurer begins to pay. The benefit of having a higher deductible is that you will pay a smaller premium.
Savings interest rate: The yearly interest rate you earn on your savings.
Combined income tax rate: Enter your combined federal and state income tax rates. For example, if you are in the 25% income tax bracket for federal income-tax purposes, and pay a state income tax rate of 5%, enter 30%.
Leadfusion CALCULATORS: Budgeting Email Results

The Northwestern Mutual Life Insurance Company, 720 E. Wisconsin Avenue, Milwaukee, Wisconsin, 53202-4797.

The calculators are provided by a third party service provider, Leadfusion, Inc. The figures entered on the input page of this calculator are for hypothetical purposes only. You should enter figures that are appropriate to your individual situation. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed by Northwestern Mutual. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Northwestern Mutual, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. Please consult with qualified professionals to discuss your situation.

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