There is no fixed rule for an emergency fund amount. How much ($500, 10K, or 30k) should be in an emergency fund depends on your family size, monthly expenses, financial goals, and risk tolerance level. Many finance experts suggest saving up three to six months' worth of living expenses. For example, if your overall monthly expenses are $3,000, aim to save $9,000 to $18,000. However, saving up 12 months' worth of living expenses ($36,000 in this example) would be even better.