Emergency Fund Calculator
Work out how much you need in your emergency fund and how long it will take to get there at your current saving rate.
Learn how this calculator works →Your numbers
Just the essentials: rent or mortgage, bills, groceries, transport, insurance.
3 months for stable salaried jobs; 6 to 12 for self-employed, single-income, or volatile sectors.
Cash ISA interest is tax-free. Easy-access savings interest above your Personal Savings Allowance is taxed at your marginal rate.
What happens to my data?
Your target
£12,000
Time to reach target
4 yrs 7 mos
Estimated to be funded by December 2030.
You will earn roughly £1,191 in interest along the way.
Personal Savings Allowance check
At £12,000 earning 4.5%, you would earn roughly £540 a year in interest. Basic-rate taxpayers have a £1,000 Personal Savings Allowance; higher-rate £500. Anything above gets taxed at your marginal rate.
A Cash ISA has no PSA limit and pays interest fully tax-free, which is usually the better home for an emergency fund of this size.
How many months should I aim for?
- 3 months: stable salary, dual-income household, easy-to-replace job.
- 6 months: single-income household, sole breadwinner, or you are the household's primary carer.
- 9 to 12 months: self-employed, contractor, commission-heavy pay, or a sector going through layoffs.