Emergency Fund Calculator
Work out how big your emergency fund should be, how far along you already are, and how long it will take to close the gap.
Calculate Your Safety Net
Enter your essential monthly expenses, how many months of cover you want, and what you’ve already saved to see your target, your shortfall, and your timeline.
Your Expenses & Savings
Enter your current financial situation
Safety Net Evaluation
Your emergency fund target and timeline
How Much Coverage Is Right?
General guidance on how many months of expenses to save, based on your income situation.
| Situation | Description | Suggested Cover |
|---|---|---|
| Dual income, stable jobs | Two steady incomes, low job insecurity | 3 months |
| Standard recommendation | Typical employee, moderate stability | 6 months |
| Single income household | One earner supporting the household | 6–9 months |
| Variable or self-employed income | Freelancers, contractors, business owners | 9–12 months |
Emergency Fund FAQ
Everything you need to know about building and sizing your emergency fund.
Most financial guidance suggests keeping between three and six months of essential living expenses in an emergency fund. People with less stable income, such as freelancers or single-income households, often aim for six to nine months or more for extra security.
Essential expenses typically include rent or mortgage payments, utility bills, groceries, insurance, minimum debt repayments, transport, and childcare. Discretionary spending like holidays, dining out, or entertainment subscriptions is usually left out of the calculation.
An emergency fund should be kept somewhere safe and easily accessible, such as an easy-access savings account, rather than invested in stocks or locked away in accounts with withdrawal penalties. The priority is being able to access the money quickly without loss of value.
An emergency fund is money set aside specifically to cover unexpected costs or a loss of income, such as a job loss, car repair, or medical bill. General savings can be used for planned goals like a holiday or a house deposit, and are usually kept separate so the emergency fund isn’t accidentally spent.