{
  "slug": "freelance-emergency-fund",
  "title": "Freelance Emergency Fund Calculator",
  "heading": "Freelance Emergency Fund Calculator",
  "category": "financial",
  "url": "https://www.revenuelab.fyi/toolbox/freelance-emergency-fund",
  "summary": "How big a buffer irregular income really needs.",
  "description": "Salaried advice says three months. Freelancers with lumpy invoicing need more. This sizes the buffer from monthly costs, income volatility and how long a dry spell usually lasts.",
  "formula": "Months = 3 + volatility ÷ 20 + longest gap. Target = expenses × months.",
  "dateModified": "2026-09-30",
  "run_url": "https://www.revenuelab.fyi/api/public/calc?tool=freelance-emergency-fund",
  "inputs": [
    {
      "id": "expenses",
      "label": "Essential monthly expenses",
      "kind": "number",
      "hint": null,
      "default": 4200,
      "unit": "$",
      "min": null,
      "max": null
    },
    {
      "id": "volatility",
      "label": "Income month-to-month swing",
      "kind": "number",
      "hint": null,
      "default": 35,
      "unit": "%",
      "min": 0,
      "max": 100
    },
    {
      "id": "gap",
      "label": "Longest dry spell seen",
      "kind": "number",
      "hint": null,
      "default": 2,
      "unit": "months",
      "min": 0,
      "max": null
    },
    {
      "id": "saved",
      "label": "Currently saved",
      "kind": "number",
      "hint": null,
      "default": 6000,
      "unit": "$",
      "min": null,
      "max": null
    },
    {
      "id": "monthlySave",
      "label": "Can save per month",
      "kind": "number",
      "hint": null,
      "default": 900,
      "unit": "$",
      "min": null,
      "max": null
    }
  ],
  "outputs": [
    {
      "id": "target",
      "label": "Target buffer",
      "format": "currency",
      "hint": null,
      "primary": true
    },
    {
      "id": "months",
      "label": "Months of cover",
      "format": "decimal",
      "hint": null,
      "primary": false
    },
    {
      "id": "gap",
      "label": "Still to save",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "monthsToFund",
      "label": "Months to fully fund",
      "format": "decimal",
      "hint": null,
      "primary": false
    }
  ],
  "worked_example": {
    "inputs": [
      "Essential monthly expenses: 4200 $",
      "Income month-to-month swing: 35 %",
      "Longest dry spell seen: 2 months",
      "Currently saved: 6000 $",
      "Can save per month: 900 $"
    ],
    "outputs": [
      "Target buffer: $28,350",
      "Months of cover: 6.8",
      "Still to save: $22,350",
      "Months to fully fund: 24.8"
    ]
  },
  "how_to": {
    "title": "How to use this",
    "steps": [
      "Enter essential monthly expenses ($).",
      "Enter income month-to-month swing (%).",
      "Enter longest dry spell seen (months).",
      "Enter currently saved ($).",
      "Enter can save per month ($).",
      "Read your target buffer on the right — it updates as you type.",
      "Hit Share to keep the scenario or send it to someone."
    ]
  },
  "scenarios": [
    {
      "name": "Conservative",
      "description": "Lower-end numbers — what if things land soft?",
      "values": {
        "expenses": 2500,
        "volatility": 20,
        "gap": 1,
        "saved": 3500,
        "monthlySave": 550
      }
    },
    {
      "name": "Typical",
      "description": "Defaults — the most common real-world setup.",
      "values": {
        "expenses": 4200,
        "volatility": 35,
        "gap": 2,
        "saved": 6000,
        "monthlySave": 900
      }
    },
    {
      "name": "Ambitious",
      "description": "Higher-end numbers — what if things really pop?",
      "values": {
        "expenses": 6700,
        "volatility": 55,
        "gap": 3,
        "saved": 9500,
        "monthlySave": 1450
      }
    }
  ],
  "limitations": [
    "Results are estimates before tax, fees, and inflation unless an input explicitly covers them.",
    "Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.",
    "This is educational maths, not financial advice. Check anything contractual with the lender or your accountant."
  ],
  "faq": [
    {
      "q": "How does the freelance emergency fund calculator work?",
      "a": "Salaried advice says three months. Freelancers with lumpy invoicing need more. This sizes the buffer from monthly costs, income volatility and how long a dry spell usually lasts. The underlying maths is: Months = 3 + volatility ÷ 20 + longest gap. Target = expenses × months."
    },
    {
      "q": "What do I need to enter?",
      "a": "5 values: essential monthly expenses, income month-to-month swing, longest dry spell seen, currently saved, and can save per month. Each field starts with a sensible default, so you can change one number at a time and watch the result move."
    },
    {
      "q": "What does the target buffer result mean?",
      "a": "It is returned as a money amount in US dollars and updates live as you edit the inputs, so you can compare two or three versions of a scenario in a few seconds."
    },
    {
      "q": "Is this calculator free, and do I need an account?",
      "a": "Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser."
    },
    {
      "q": "How accurate is the result?",
      "a": "It applies the standard formula exactly, so the arithmetic is precise. Results are estimates before tax, fees, and inflation unless an input explicitly covers them."
    },
    {
      "q": "Who is this tool for?",
      "a": "It's built for anyone comparing money scenarios before committing — budgeting a payment, sanity-checking a quote, or seeing what a change in rate or term actually costs."
    }
  ],
  "related": [
    "https://www.revenuelab.fyi/toolbox/self-employed-quarterly-set-aside",
    "https://www.revenuelab.fyi/toolbox/irregular-income-budget"
  ],
  "license": "CC-BY-4.0",
  "citation": "RevenueLab — Freelance Emergency Fund Calculator (https://www.revenuelab.fyi/toolbox/freelance-emergency-fund)"
}