An emergency fund is money set aside for unexpected costs or a drop in income, so you do not have to borrow when something goes wrong. Use the calculator below to estimate a target based on your own essential costs, then see how long it could take to build.
How big should your emergency fund be?
Add up your essential monthly costs (the bills you would still have to pay if your income stopped), choose how many months to cover, and see your target and how long it could take to get there.
Assumptions: a common rule of thumb is three to six months of essential costs; people with irregular income, dependants or less job security often aim higher. The time to reach your target ignores interest and assumes you save the same amount every month.
This tool gives general information and simple arithmetic only. It is not financial advice and Crypto Financial Care is not authorised by the FCA. Nothing you enter is sent or stored. Free, impartial help: MoneyHelper; free debt advice: StepChange, National Debtline, Citizens Advice.
How to use the results
Treat the numbers as a starting point for your own planning, not a recommendation. Your situation, priorities and any professional advice you receive matter more than any rule of thumb. You may also find our guide on why an emergency fund comes before investing useful.
