Emergency Fund Calculator
Emergency Fund Target
£15,000
Current Progress
20%
Still Need
£12,000
Time to Goal
24 months (104 weeks)
Interest Earned
£376
£3,000 of £15,000
Start Small
Aim for £1,000 as a starter emergency fund, then build to your full target.
Recommended Target
6 months
Recommended for most people
Monthly Expenses
£2,500
Essential costs only (rent, food, bills)
Fully Funded In
24 months
Saving £500/month
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Why 3–6 Months of Expenses?
The standard guidance to hold 3–6 months of essential expenses is based on typical UK unemployment durations and notice periods. It's designed to cover the gap between losing an income source and finding replacement work or benefits kicking in, without needing to rely on high-interest credit.
How Many Months Should You Target?
3 Months
Dual-income household, stable employment, low job-loss risk.
6 Months
The standard recommendation for most single-income households.
9–12 Months
Self-employed, freelance, commission-based, or variable income.
Building Your Fund When Money Is Tight
If a full 3–6 month target feels unreachable right now, start with a smaller £1,000 starter fund first. This covers most common one-off costs (a boiler repair, a car issue) without derailing your finances, and gives you time to build towards the full target without feeling like you're getting nowhere.
⚠️ Important Disclaimer
This calculator provides illustrative projections only, based on a constant monthly contribution and interest rate. It is not financial advice. Keep emergency funds in an easily accessible account rather than invested assets that could lose value when you need to withdraw.
100% private — your figures are calculated in your browser and never stored or shared.
Frequently Asked Questions
How much emergency fund do I need?
3-6 months of essential expenses. Single income? Aim for 6 months. Dual income or stable job? 3 months may suffice. Self-employed? Consider 6-12 months.
Where should I keep my emergency fund?
Easy-access savings account with decent interest. Not invested in stocks (too volatile). Some use fixed-rate bonds for part of it.
How long does it take to build?
Depends on your savings rate. Saving £500/month for 6-month target of £9k = 18 months. Automate contributions to build faster.
Should I pay debt or save first?
Build £1k starter emergency fund, then tackle high-interest debt (>10%), then complete your 3-6 month fund.
Key Terms Explained
Plain-English definitions of the financial terms used in this calculator.
- Emergency Fund
- A cash buffer — typically 3 to 6 months of essential outgoings — kept in an easy-access account to cover job loss, repairs or unexpected bills without borrowing.
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Not Financial Advice: This calculator is for informational and educational purposes only. Results are estimates and do not constitute financial advice, recommendations, or regulated advice. We are not authorised or regulated by the Financial Conduct Authority (FCA). Always consult a qualified financial adviser for personalised advice. Tax treatment depends on your individual circumstances and may change. Tax laws and rates may change. Past performance does not guarantee future results.
