How many months of expenses should I save?

3 months is the minimum recommended buffer. 6 months is more appropriate if you are self-employed, have an irregular income, or work in a volatile industry. Couples with dual incomes may be comfortable with 3 months.

Where should I keep my emergency fund?

Keep your emergency fund in an easy-access savings account, not a stocks and shares ISA or fixed-term account. The priority is accessibility and capital protection, not maximum return.

What counts as monthly expenses?

Include only essential costs: rent or mortgage, utilities, food, transport, insurance, and minimum debt repayments. Leave out discretionary spending like dining out and subscriptions — you would cut these in an emergency.

Emergency Fund Planner

Calculate how much you should hold in an emergency fund. Most financial advisers recommend 3–6 months of essential expenses as a cash buffer for unexpected events.

How it's calculated

Target Fund = Monthly Expenses × Target Months
Shortfall = Target Fund − Current Savings
Months to Target = Shortfall ÷ Monthly Savings

Frequently Asked Questions

How many months of expenses should I save?: 3 months is the minimum recommended buffer. 6 months is more appropriate if you are self-employed, have an irregular income, or work in a volatile industry. Couples with dual incomes may be comfortable with 3 months.
Where should I keep my emergency fund?: Keep your emergency fund in an easy-access savings account, not a stocks and shares ISA or fixed-term account. The priority is accessibility and capital protection, not maximum return.
What counts as monthly expenses?: Include only essential costs: rent or mortgage, utilities, food, transport, insurance, and minimum debt repayments. Leave out discretionary spending like dining out and subscriptions — you would cut these in an emergency.