Calculate your ideal emergency fund size and build a monthly savings plan.
FinCalc Smart.
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Financial Calculator
Monthly Expenses
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Results
Monthly Essentials
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Target Fund Size
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Still Need to Save
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Months to Full Fund
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Progress
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Interest Earned
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Frequently Asked Questions
Yes — this is a popular Canadian strategy. A TFSA HISA earns tax-free interest and remains accessible within 1–3 business days. Any withdrawals add back to your TFSA room on January 1 the following year. Keep 1–2 months in a regular HISA for instant access, rest in TFSA HISA for better interest.
3 months: dual income, stable job, low debts. 6 months: single income or one variable-income earner. 9–12 months: self-employed, freelancer, or commission-based. Homeowners and parents with dependents should hold more.
Canada: EQ Bank, Oaken Financial, Simplii (3.5–4.5% in 2025). USA: Marcus, Ally, SoFi, Discover (4–5%). Using a TFSA for your emergency fund combines accessibility with tax-free growth.
⚠️ Interest rate estimates based on 2025 rates. Verify current rates with your institution.