Emergency Fund Calculator

How much cash do you need set aside for emergencies? Enter your essential monthly costs, your situation, and your current savings to find out exactly where you stand.

Essential Monthly Expenses

Only include costs you absolutely must pay even if you lost your job tomorrow.

Rent / Mortgage

Bills (Gas, Electric, Water, Council Tax)

Food & Groceries

Transport

Insurance

Minimum Debt Repayments

Your Situation

Number of Dependents

Job Security

Current Emergency Savings

How Much Can You Save Monthly?

Your Emergency Fund Target

Essential Monthly Costs

£2,000

Months to Cover

Target Amount

£6,000

Still Needed

£4,500

Progress25%

23 Months to Go

Saving £200/month, you will reach your £6,000 target in about 23 months (1.9 years).

Where to Keep Your Emergency Fund

•Easy-access savings account — The best place. You need instant access. Chase, Chip, and Marcus by Goldman Sachs consistently offer the best rates.
•Not in investments — Stocks and funds can drop 30-50% in a crash, which is precisely when you might need your emergency fund.
•Separate from daily spending — Keep it in a different bank to reduce the temptation to dip into it.
•FSCS protected — Make sure the bank is covered by the Financial Services Compensation Scheme (up to £85,000 per institution).

This calculator provides general guidance only. Your ideal emergency fund depends on your personal circumstances. Consider speaking to a financial adviser for tailored advice.