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GMFSI Emergency Fund & Income Interruption Planner

GMFSI PLANNING TOOLS · PROTECT • GROW • PRESERVE

If your income stopped, how long would your savings last?

Explore your household’s monthly shortfall, the time your accessible savings could cover, and a reserve for the period you choose.

Canadian dollarsNo sign-upPrintable plan
What you’ll need

Your essential monthly expenses, savings available for emergencies, and an estimate of household income that would continue. No name, email or account details are required. Calculations run in your browser; this tool does not save your figures.

1 · EXPLORE YOUR FIGURES

Your household scenario

Example figures are shown. Replace them with your own estimates.

Include housing, groceries, utilities, essential transport, insurance and minimum debt payments. Use after-tax spending amounts.

Include money you can access for this purpose. Exclude credit limits, home equity and funds you do not intend to withdraw.

Use an after-tax estimate, such as a partner’s continuing income or confirmed benefits. Enter 0 to explore a complete interruption.

Choose 1–60 months. This is your scenario period, not a personalized recommendation.

Does the continuing income start later?

Enter 0 if it continues immediately. During a delay, this model assumes no household income. If some income continues immediately and some starts later, compare separate scenarios instead.

2 · SEE YOUR ESTIMATE

Your savings runway

Ongoing monthly shortfallAfter continuing income begins
Reserve for your selected period
Additional savings to reach itAbove the accessible savings entered
Selected-period reserve covered

Compare interruption lengths

Savings remaining and uncovered spending at different interruption lengths
PeriodSavings remainingUnfunded shortfall

Assumes continuing income lasts for the period shown. Surplus income is not added back to savings.

Opens a print-ready summary with your figures and a checklist. You can also save it as a PDF.

FROM INFORMATION TO ACTION

Turn your estimate into a practical plan

  1. Confirm your starting point. Check your actual essential spending and which savings are available without penalties or unwanted tax consequences.
  2. Check what would continue. Review workplace sick pay, disability coverage and other household income. Confirm amounts, waiting periods, duration and tax treatment.
  3. Choose your next step. Consider a manageable savings contribution, expenses you could reduce, or a review of your protection needs with GMFSI.
Contact GMFSI about your plan →Explore GMFSI disability insurance →Explore GMFSI cash-flow resources →

Understand your estimate

How is the savings runway calculated?

Ongoing monthly shortfall = essential expenses minus continuing income, with a minimum of zero. With no income delay, savings runway = accessible savings divided by the monthly shortfall. If a delay is entered, savings first cover the full expenses during that delay, then the ongoing shortfall. The model spreads spending evenly through each month.

Your selected-period reserve is the total modeled spending shortfall over that period. Additional savings = that reserve minus your accessible savings, with a minimum of zero. This income-interruption reserve differs from a general emergency fund for unexpected costs.

What if income covers my expenses?

If continuing income starts immediately and covers the expenses entered, there is no modeled drawdown of emergency savings. If income starts later, savings must first cover the delay. This does not mean you no longer need emergency savings: unexpected bills and changes in income are outside this illustration.

What should I keep in mind?

This is an educational illustration, not a personalized financial plan, insurance quote or determination of benefit eligibility. Expenses and income are held constant. It does not model inflation, investment returns, new emergency costs, benefit approval delays beyond the delay entered, or different benefit expiry dates. Verify actual coverage and income before relying on them.

Confirm with an official source: FCAC: Setting up an emergency fund (opens a new tab) ↗. FCAC describes emergency savings and suggests working toward three to six months of regular expenses. Your appropriate reserve depends on your circumstances.

Source checked October 14, 2026. All figures are CAD and rounded for display; calculations use unrounded values.

HELP SOMEONE TAKE THE NEXT STEP

Know someone building their financial safety net?

Share the GMFSI planner so they can explore their own figures. Your inputs are not included in the shared link.

Email this GMFSI planner ↗

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