How Long to Save a $10,000 Emergency Fund at $500/Month?

Saving $500 per month with a 4% interest rate gets you to a $10,000 emergency fund in less than 20 months.

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How to use this tool

Enter savings goal, current savings, monthly deposit and annual interest rate in the fields above.
Results update instantly as you type — or click Calculate.
Read your months to reach goal and the full breakdown beneath it.

Calculate how many months it takes to build a $10,000 emergency fund when you save $500 each month.

Frequently asked questions

Does interest speed things up?: Yes. With a positive rate your balance compounds while you save, so you reach the goal a little sooner than deposits alone would suggest.