How much is enough?
There's no single official number. The UK's MoneyHelper suggests three to six months of essential outgoings. The US Consumer Financial Protection Bureau doesn't set a figure and suggests basing your goal on what past emergencies actually cost you. In France, the Banque de France's education site suggests two to six months of income, usually three.
Aim higher if your income is irregular, you're self-employed, you're the only earner, or you have dependants. Lower can be fine if you have a very stable job and a partner's income.
Start small
The first few hundred matter most. In the Federal Reserve's 2025 survey of household economics, 63% of US adults said they'd cover a $400 emergency expense with cash or its equivalent; the rest would borrow, sell something or couldn't pay. A first target of one month of essentials, then three, is easier to hold than six months in one go.
Where to keep it
Somewhere safe, separate from your everyday account, and available within days: an instant-access savings account covered by deposit insurance (FDIC or NCUA up to $250,000 in the US, FSCS up to £120,000 in the UK since December 2025). Not in shares, which can fall exactly when you need the money.
Read the full guide: how to build an emergency fund. For expenses you know are coming, like car insurance or back-to-school, use sinking funds instead.
About this calculator
The months-to-goal estimate assumes you save the same amount every month and ignores interest. Nothing you type leaves your browser.
Frequently asked questions
Should the fund cover income or expenses?
Essential expenses is the usual basis: what you must pay to keep a roof, food and transport. Using income gives a larger, more protective target.
Should I pay off debt or build the fund first?
Many advisers suggest a small starter fund first, then high-interest debt, then the full fund, so an emergency doesn't push you back onto a credit card.
What counts as an emergency?
Something necessary, urgent and unexpected: job loss, a medical bill, an essential repair. A sale or a holiday isn't one.