Emergency Fund Calculator
Work out a fund to cover your essential costs and see how much you still need to save.
Your emergency fund
Work out what you’d need to cover your essential costs if your income stopped.
1. Your essential costs
Add the payments you’d still need to make: housing, bills, food and other essentials. Enter each payment once. Leave out optional spending and money you plan to save.
2. Choose your cover
How many months of essential costs would you like your fund to cover?
Choose from 1 to 60 months.
3. What you have saved
Money already set aside for emergencies, rather than upcoming bills or another goal.
Your emergency fund target
Add your essential costs to set a target.
- Essential costs per month
- £0.00
- Already saved
- £0.00
- Still to save
- £0.00
- Current savings cover
- —
Add essential costs to see your progress.
How much should I save each month?
Add essential costs to make a savings plan.
No interest included. The amount rounds up to the next penny.
Your essential costs, biggest first
| Essential cost | Average per month | Per year |
|---|---|---|
| Total essential costs | £0.00 | £0.00 |
Add an essential cost to see your breakdown.
What should I include?
Use recent bills and statements to estimate housing payments, utilities, groceries, essential travel, insurance, childcare and minimum debt repayments. Add other costs that are essential for your household. For debt, use the regular repayment amount, not the outstanding balance.
If bills are combined, enter either the combined payment or the individual costs. Don’t count both. For annual bills, select Yearly so they’re spread across a monthly average.
How we calculate your fund
We convert weekly payments using 52 payments a year, every two weeks using 26, every four weeks using 13, monthly using 12 and yearly using 1. Annual costs are divided by 12 to give an average month. Your target is essential monthly costs multiplied by your chosen months of cover.
We subtract existing emergency savings to show what’s left to save, with a minimum of £0. Current cover is existing savings divided by essential monthly costs. The optional savings plan divides the remaining amount by the number of saving months. Interest, tax, fees and inflation aren’t included. Monthly averages may differ from the timing of your actual bills. Displayed figures are rounded.
Essential cost
What you pay each time.
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