Emergency Fund Planner

Estimate how much readily available cash you should hold based on your monthly income and essential outgoings.

Your finances

Open budget planner

Fill in the budget planner first to import take-home income and essential outgoings.

Emergency funds should be readily available. Keep this money in instant-access savings or cash you can withdraw without penalty—not locked investments, fixed-term deposits with charges, or accounts you cannot access quickly when needed.

Minimum

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Recommended

Maximum

—

Keep this in instant-access savings you can withdraw without penalty.

Breakdown

Tier Outgoings Income Total % annual income % annual outgoings

How this planner works

Your emergency fund target combines months of essential outgoings (based on income stability) with a small income buffer. Minimum, recommended and maximum tiers give a range rather than a single figure.

Who this is for

UK households building a cash safety net before investing, taking career risks, or managing variable income. Use the budget planner to work out take-home pay and essential costs, then import them here.

How to use this tool

  1. Enter monthly take-home income and essential outgoings (or import from your budget).
  2. Choose the income stability option that best describes your situation.
  3. Review minimum, recommended and maximum targets in the breakdown table.
  4. Keep the fund in instant-access savings you can withdraw without penalty.

Frequently asked questions

How much emergency fund do I need in the UK?

A common guideline is three to six months of essential outgoings, plus a small income buffer. This planner shows minimum, recommended and maximum tiers based on your stability profile.

What counts as essential monthly outgoings?

Include rent or mortgage, utilities, food, transport, insurance and minimum debt repayments — not holidays, investments or discretionary spending.

Should my emergency fund be in investments?

No. Keep emergency money in instant-access cash. Locked investments or fixed-term deposits with penalties are unsuitable for unexpected expenses.

How does income stability affect the target?

Self-employed or variable pay usually needs more months of cover than stable dual-income employment. Pick the profile that matches your situation.

Important: Figures are indicative estimates based on the information you enter. They do not include investments, notice savings with withdrawal penalties, or tax. This tool is for planning and illustration only and does not constitute regulated financial, tax or investment advice.