Emergency Fund Calculator
Enter your monthly essential costs and the months of cover you want. Add what you have saved and what you can add each month.
Essential costs: housing, food, bills, transport, insurance and debt payments.
Worked examples
Six months of costs
£2,000 a month, 6 months, £3,000 saved, £500 added each month
£12,000 target, 18 months
The gap is £9,000, which takes 18 months at £500 a month with no interest.
About Emergency Fund Calculator
An emergency fund is money you keep in an easy access account for things you cannot plan, such as losing your job, a broken boiler or a big car repair. A common aim is three to six months of essential costs. Aim nearer six months or more if you are self-employed, have dependants, rely on one income, or work in a field where finding a new job takes time.
Enter your monthly essential costs, leaving out wants such as takeaways and holidays, and choose how many months of cover you want. Add what you have already saved, what you can add each month and the interest rate on your savings. The page shows your target, the gap, how long it will take to close and the share of the target you already have.
How to use Emergency Fund Calculator
- Add up your essential monthly costs.
- Choose the number of months of cover you want.
- Enter what you have saved and what you can add each month.
- Enter your savings rate, then read the target and the time to reach it.
Common uses
- Setting a first savings goal
- Checking if your cushion is enough after a change of job
- Planning to rebuild a fund after using it
- Deciding how much to keep in cash rather than invest
Sources
Last reviewed 18 October 2026.
Frequently asked questions
How much should be in an emergency fund?
Most advice is three to six months of essential costs. A smaller first goal of one month is a good start, and some people keep a year if their income is uncertain.
What counts as an essential cost?
Housing, utilities, food, transport to work, insurance, minimum debt payments and childcare. Leave out costs you could pause in a crisis.
Where should I keep it?
In an instant access savings account, so you can reach it quickly and the value cannot fall. A cash ISA is a good choice if you want the interest not to be taxed.
Should I clear debt first?
Many people build a small buffer first, then clear high-interest debt, then grow the fund. A small buffer stops an unexpected bill going on a credit card.
What if I cannot add anything each month?
Then the time to reach the target depends only on interest, and may never be reached. Even a small regular amount helps.