Savings tool
Emergency Fund Calculator
Estimate how much emergency savings you may need based on your essential monthly costs, then see how long it could take to build a 3, 6, 9, or 12 month safety buffer.
What counts as essential?
This calculator focuses on essential costs you would still need to cover during an emergency, such as housing, bills, food, transport, and debt repayments.
Target emergency fund
£12,660
Based on 6 months of essential costs.
Time to target
46 months
Based on your current monthly saving.
Emergency fund summary
Early stage
Progress: 9.5%
Your emergency fund is still in the early stage, so building a basic buffer should be a priority.
Monthly essentials
£2,110
Gap to target
£11,460
Emergency fund target levels
3 months of essentials
£6,330
6 months of essentials
£12,660
9 months of essentials
£18,990
12 months of essentials
£25,320
What monthly saving would close the gap?
To close the gap in 12 months
£955/month
To close the gap in 6 months
£1,910/month
What this means
An emergency fund is there to reduce pressure when income drops or unexpected costs appear. Even a small starter buffer can make a big difference before building towards a larger target.
How to use this result
A 3 month fund can be a useful starter target, while 6 months or more may feel safer if your income is less predictable or your essential costs are high.
The right target depends on your household, job security, debts, dependants, and how quickly you could replace income if needed.
This calculator gives estimates only and does not provide financial advice.
FAQs
How much should I have in an emergency fund?
Many people use 3 to 6 months of essential expenses as a starting benchmark, but the right amount depends on your circumstances.
Should I save before paying off debt?
A small starter emergency fund can help avoid relying on more credit, but high-interest debt may also need attention.
Where should I keep an emergency fund?
Emergency money is usually best kept somewhere accessible and low risk, rather than locked away or exposed to large market swings.