Emergency Fund Calculator
Size an emergency fund from your essential monthly costs and how many months you want covered.
About the Emergency Fund Calculator
Enter your essential monthly costs (housing, food, utilities, transport, insurance, minimum debt payments and other must-pays), the months of cover you want and what you've saved. The calculator gives your target and how long it takes to reach.
An emergency fund covers essential bills if you lose income or face a big unexpected cost. Common guidance is 3–6 months of essential expenses; aim for more if your income is irregular or you're the only earner. Keep it in an easy-access savings account.
The formula
Target = monthly essential costs × months of cover
Worked example
Essentials of 3,300 a month, 6 months of cover, nothing saved yet
- Target: 3,300 × 6 = 19,800
- Saving 1,650 a month gets there in a year
Questions people ask
Essentials only?
Yes: only what you must pay to keep a roof, food, insurance and debt payments going.
Where should I keep it?
A separate high-yield savings account you can reach in a day or two.