Emergency Fund Calculator
How much cash should you keep for emergencies?
What This Calculator Does
This calculator helps you work out how much you need in your emergency fund based on your monthly essential spending, and how long it will take to build it. It is designed for anyone building a financial safety net for unexpected expenses.
How the Calculation Works
Most financial advisers recommend 3-6 months of essential expenses. The calculator takes your monthly outgoings, multiplies by your chosen coverage period, and shows a savings plan to reach your target.
Common Scenarios
With £2,000/month in essential costs, a 3-month fund is £6,000 and a 6-month fund is £12,000. Saving £300/month into a high-interest savings account, you could build a 3-month fund in about 20 months.
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