Our free Emergency Fund Calculator works out how big your safety net should be, and how long it could take to build it. Answer five quick questions for an instant estimate.
Your answers — tweak any number and update
This is an estimate for illustration only, assuming a fixed interest rate applied consistently. Keep your emergency fund somewhere easily accessible, not locked away or invested. This is not financial advice.
Emergency Fund Calculator FAQs
How many months of expenses should I save?
3-6 months of essential expenses is the typical guidance. Consider aiming higher, towards 6-12 months, if you’re self-employed, on a variable income, or the only earner in your household. You might reasonably aim lower if you have a very stable dual income and a strong support network to fall back on.
Should I keep my emergency fund in a Lifetime ISA?
No, this isn’t recommended. Withdrawing from a Lifetime ISA for anything other than a first home purchase or after age 60 triggers a 25% government withdrawal charge, which means you could get back less than you put in. Keep your emergency fund in a normal easy-access savings account or cash ISA instead, where you can withdraw freely without penalty.
What return does this assume?
We use whatever interest rate you enter, applied monthly. Since an emergency fund needs to stay accessible, it’s worth comparing easy-access savings and cash ISA rates rather than locking it away in a fixed-term account you can’t reach quickly.
Is my information stored anywhere?
No. Every calculation happens entirely in your own browser, we don’t see, collect, or store any of the numbers you enter. See our Privacy Policy for more detail.