Emergency Fund Calculator

Calculate exactly how much you need to save for life’s unexpected moments. Our simple calculator helps you build a financial safety net that fits your lifestyle.

Calculator

Select Currency:

Monthly Expenses

Housing (Rent/Mortgage)

Utilities

Food & Groceries

Transportation

Insurance

Other Essential Expenses

Your Savings

Current Savings

Monthly Contribution

Your Emergency Fund Goals

3-Month Fund

Target: \$0

Time to reach: 0 months

Amount still needed: \$0

6-Month Fund

Target: \$0

Time to reach: 0 months

Amount still needed: \$0

How to Use This Calculator

Enter your total monthly expenses (Include: Rent/mortgage, utilities, food, insurance, transportation, Skip: Non-essential items like entertainment or luxury purchases)
Choose your coverage period (Most experts recommend 3-6 months, Self-employed? Consider 6-12 months, Stable job? 3 months might be enough)
Add your current savings (Include only easily accessible funds, Don’t count investments or retirement accounts)

Your results will show exactly how much to save and a monthly saving target to reach your goal.

Understanding Your Results

Total Emergency Fund Goal

This is your target amount – enough to cover essential expenses during unexpected situations like:

Job loss
Medical emergencies
Major repairs
Family emergencies

Amount Still Needed

The gap between your current savings and your goal. Don’t worry if it seems large – even small regular contributions add up over time.

Smart Emergency Fund Building Tips

Where to Keep Your Fund

✅ High-yield savings account ✅ Money market account ✅ Traditional savings account

❌ Avoid: Stocks, cryptocurrencies, or long-term investments

Building Your Fund

Start small – even £25 per week helps
Automate your savings
Use windfalls (tax returns, bonuses)
Review and adjust quarterly

Frequently Asked Questions

Q: How much should I save each month? A: Use our calculator’s suggested monthly savings as a starting point. Adjust based on your income and expenses.

Q: Where should I keep my emergency fund? A: Choose an easily accessible account with some interest earnings, like a high-yield savings account.

Q: What counts as an emergency? A: True emergencies are unexpected, necessary expenses like medical bills, urgent car repairs, or job loss. Not impulse purchases or planned expenses.

Q: How long will it take to build my fund? A: It depends on your target amount and monthly contributions. Focus on consistent saving rather than speed.