Emergency Fund Calculator
Work out how many months of essentials you should hold in cash, how far off you are, and how long it takes to get there at your current saving rate.
Your details
Rent or mortgage, council tax, energy, food, transport, insurance, minimum debt payments. Not the gym, not Netflix. The number you would cut back to if you lost your income tomorrow.
Sets the suggested number of months. Change it below if you know better.
Children, a partner who does not work, or family you support. Adds two months to the suggestion.
Suggested: 4 months, based on your answers above.
Cash you could reach within a few days. Not your ISA investments, not your pension.
Updates as you change the figures. No submit button needed.
Result
£6,400
4 months of essentials at £1,600 a month. You are 19% of the way there.
0.8 months covered today
Where people get this wrong
The two common mistakes run in opposite directions. Counting an investment ISA as the emergency fund, when it can be down 20% in the month you need it. And holding a year of cash when three months would do, while the extra sits earning less than inflation. The fund exists to stop a bad month becoming expensive debt. Once it is full, stop and move on to the next goal.
How we calculate this
Target = essential monthly spending multiplied by the number of months of cover. We suggest 3 months for steady salaried income, 4 for typical, 6 for self-employed or variable income, and add 2 months if anyone depends on you. That is a rule of thumb, not a regulation, so the slider lets you set your own.
Time to reach it = the shortfall divided by what you can add each month, rounded up. We ignore interest because the fund should sit in easy-access cash where the return is small and the point is availability, not growth. Deposits up to £120,000 per person per bank are protected by the FSCS.
This tool is for general guidance only and is not financial or tax advice. Always check your own circumstances, ideally with a qualified adviser or accountant, before making decisions.
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