Emergency Fund Calculator 2026/27

Find out how large your emergency fund should be based on your spending, employment type and circumstances · and how long it will take to build it.

Your Recommended Emergency Fund
£0
Based on your circumstances
Total Monthly Essentials
£0
Months of Cover Needed
3
Current Savings
£0
Amount Still Needed
£0
Time to Reach Target
-
% of Target Saved
0%
Enter your details to calculate your emergency fund target.
Progress Towards Your Emergency Fund
How It Works

An emergency fund is a pot of cash set aside to cover unexpected expenses or a sudden loss of income · job loss, illness, an urgent car repair, or a boiler breakdown. Without one, people often turn to expensive credit cards or loans.

How much do you need? The standard guidance is 3 to 6 months of essential expenses. The exact figure depends on your job security and responsibilities. Permanently employed workers with no dependants can often manage with 3 months. Self-employed, contractors and those with dependants need more buffer because income can be unpredictable and unexpected costs hit harder.

Where to keep it: Your emergency fund should sit in an easy-access savings account · not invested in stocks. Good options include Marcus by Goldman Sachs, Chip, Plum, NS&I easy access, or NS&I Premium Bonds (accessible within a few days). Avoid fixed-rate bonds where early withdrawal incurs penalties.

Once your emergency fund is fully funded, redirect those savings into a Stocks and Shares ISA, pension, or other long-term investments.

Emergency Fund by Monthly Spending

Required emergency fund across different spending levels and months of cover

Monthly Spending 3 Months 4 Months 6 Months Who Needs This
£500£1,500£2,000£3,000Student / part-time
£1,000£3,000£4,000£6,000Single, low cost area
£1,500£4,500£6,000£9,000Single, average expenses
£2,000£6,000£8,000£12,000Couple or family starter
£2,500£7,500£10,000£15,000Family · self-employed
£3,000£9,000£12,000£18,000Higher spending · dependants

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Emergency Fund FAQs

How much should I have in an emergency fund in the UK?
Most financial experts recommend 3 to 6 months of essential living expenses. If you are permanently employed with no dependants, 3 months is a solid starting target. If you are self-employed, a contractor, or have children or other dependants, aim for 5 to 6 months. Unemployed individuals should target at least 6 months to bridge gaps between roles.
Where should I keep my emergency fund in the UK?
Your emergency fund should be in an easy-access savings account so you can withdraw within 1 to 2 working days without penalty. Good options in 2026/27 include Marcus by Goldman Sachs, Chip, Plum, NS&I easy access accounts, and Premium Bonds (3-5 day withdrawal). Avoid locking it in fixed-rate bonds or investing it in stocks and shares where values can fall sharply at the worst moment.
Should I pay off debt or build an emergency fund first?
A common approach is to build a small starter emergency fund of £1,000 to £2,000 first · enough to handle minor emergencies without resorting to credit. Then focus on paying down high-interest debt (credit cards, personal loans). Once high-interest debt is cleared, return to building your full 3 to 6 month emergency fund. This prevents a small setback from pushing you further into debt.
Can NS&I Premium Bonds count as an emergency fund?
Premium Bonds are a reasonable home for your emergency fund. Your capital is 100% government-backed with no risk of loss, and withdrawals typically arrive within 3 to 5 working days. The trade-off is that returns come from monthly prize draws rather than guaranteed interest · in any given month you may earn nothing. Many people keep a smaller float in a regular easy-access account for truly immediate needs and hold the bulk in Premium Bonds.
What expenses should I include when calculating my emergency fund?
Only include essential expenses · costs you must meet regardless of your income situation. This means rent or mortgage, utilities (gas · electricity · water · broadband), food and groceries, transport to work or medical appointments, minimum debt repayments, and essential insurance premiums. Exclude subscriptions, dining out, clothing, holidays and other discretionary spending · in a genuine emergency these are the first things you cut.

For informational purposes only · Not financial advice · Tax rates shown are for 2026/27 · Easy-access savings rates change frequently · always compare current accounts