Emergency fund calculator
An emergency fund covers essential costs if your income stops. Enter your monthly essential spending, how many months you want to cover and what you have saved, and see the target, the gap and how long it takes at your monthly saving.
Runs in your browser: nothing you enter is sent anywhere.
How to use it
- Enter your essential spending for one month.
- Choose how many months you want the fund to cover.
- Enter what you have saved and how much you can put aside each month.
How it works
- Target = monthly spending × months to cover.
- Still to save = target − saved (never below zero).
- Months covered now = saved ÷ monthly spending.
- Months to reach the target = still to save ÷ monthly saving, rounded up. Interest is not included.
Worked example
With 2,500 of essential spending and a 6-month goal the target is 15,000. You have 3,000, which covers 1.2 months, so 12,000 is missing. Saving 400 a month takes 30 months.
Tips
- Start with one month of spending, then build up in steps.
- Automatic transfers on payday make the habit stick.
- This is a planning aid, not financial advice.
Frequently asked questions
How many months should an emergency fund cover?
There is no single answer. Three to six months of essential spending is a common starting point, and people with irregular income or dependants often aim for more. Set the number that fits your situation.
What counts as essential spending?
Costs you must keep paying if income stops, such as housing, utilities, food, transport, insurance and minimum debt payments. Leave out things you can pause.
Where should the money be kept?
Somewhere you can reach quickly and that does not swing in value, such as an easy-access savings account. The calculator does not add interest, so real progress may be slightly faster.
Why does it round the months up?
You reach the target during the last month of saving, so the calculator counts that month in full.