How this calculator helps
An emergency fund can help you think through irregular or unexpected bills. It is useful to base any target on your actual essential costs rather than total spending.
Before you decide
People's circumstances differ. The number of months is your own choice, not a recommendation from this site.
A practical example
With £1,600 of essential monthly costs, three months would mean a target of £4,800. If £500 is already saved, the remaining gap is £4,300.
Frequently asked question
Should everyone save the same number of months?
No. Your job stability, dependants, debts and other financial circumstances all affect the amount you may want available.
What next?
Change the figures and see the estimate update instantly. For another practical check, browse our free tools library or try the daily challenge.