Emergency Fund Calculator

How to size an emergency fund

1. Enter your essential monthly expenses: rent or mortgage, food, bills, insurance and minimum debt payments.
2. Choose how many months to cover, usually 3 to 6.
3. Enter what you have saved and what you can save each month to see how long it will take.

Frequently asked questions

How many months should I cover?

Three months is a common minimum. Six or more makes sense if your income is irregular, you are the only earner or your job would be hard to replace.

Where should I keep an emergency fund?

Somewhere safe that you can reach quickly, such as a savings account, rather than in shares that may be down just when you need the money.

Which expenses count?

Only the essentials: housing, food, utilities, insurance, transport and minimum debt payments. Leave out spending you would cut in an emergency.