Emergency Fund Calculator
An emergency fund is the foundation of financial security. Calculate your target amount, how long it will take to build, and whether your current savings rate will get you there.
Building Your Emergency Fund
What Counts as Essential Expenses?
Only non-negotiable costs: rent/mortgage, utilities, food, transport to work, minimum debt payments, insurance. Do NOT include restaurants, subscriptions, entertainment, or savings. These can be cut in a genuine emergency.
Where to Keep It
An emergency fund should be: (1) instant access — no notice period, (2) separate from your current account — so you don't accidentally spend it, (3) earning interest — high-yield easy-access savings account. Premium Bonds are suitable for larger funds.
When 6 Months Isn't Enough
Self-employed, freelance, or commission-based workers should hold 9–12 months. Single-income households should hold 6+ months. People with health conditions or in specialist roles should also aim for the higher end.
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