3 months is often enough if…
You have a secure job, two incomes in the household, no dependants and good sick pay from your employer.
SAVINGS GUIDE
How much should my emergency fund be?
Aim for 3 to 6 months of essential costs, not of income. If your rent or mortgage, bills, food, transport and minimum debt payments come to £1,600 a month, that means £4,800 to £9,600. Start with a first goal of £1,000.
Last reviewed: October 2026Figures: worked out with the WorthChex calculators
YOUR TARGET
Emergency fund by monthly essentials.
| Essential costs a month | 3 months | 6 months |
|---|---|---|
| £1,200 | £3,600 | £7,200 |
| £1,600 | £4,800 | £9,600 |
| £2,000 | £6,000 | £12,000 |
| £2,500 | £7,500 | £15,000 |
| £3,000 | £9,000 | £18,000 |
Essential costs are what you must pay to keep a roof over your head and get to work: rent or mortgage, Council Tax, energy, water, phone and broadband, food, transport, insurance and minimum debt payments. Leave out things you would cut in an emergency, such as eating out and subscriptions.
3 OR 6 MONTHS?
Choosing your number.
Aim for 6 months or more if…
You are self-employed, the only earner, have children, own an older home or car, or would only get Statutory Sick Pay, which is far below most salaries.
BUILDING IT
How long it takes to save £6,000.
| Saving each month | No interest | At 4% interest |
|---|---|---|
| £100 | 5 years | 4 years 7 months |
| £200 | 2 years 6 months | 2 years 5 months |
| £300 | 1 year 8 months | 1 year 8 months |
| £500 | 1 year | 1 year |
- Start with £1,000. That covers most car repairs, boiler call-outs and broken phones.
- Automate it. Set a standing order for payday so the money moves before you can spend it.
- Use windfalls. Tax refunds, bonuses and birthday money can jump you forward.
- Then build to 3 months, and on to 6 if your situation calls for it.
WHERE TO KEEP IT
Safe, separate and quick to reach.
- Easy-access savings account or cash ISA: you can withdraw the same or next day, and it earns interest. £6,000 at 4% earns about £240 a year.
- Keep it separate from your current account so it is not spent by accident.
- Protected: money in UK banks and building societies is protected by the FSCS up to £120,000 per person, per banking licence.
- Not invested: shares can fall just when you need the money.
Plan your savings
The savings calculator shows how fast you will reach your target with your own monthly amount and rate.
FREQUENT QUESTIONS
Emergency fund FAQs
Should I save an emergency fund or pay off debt first?
Most people do both: build a small buffer of about £1,000 first, so a surprise bill does not go on a credit card, then focus on expensive debt, then grow the fund.
What counts as an emergency?
Something necessary, urgent and unexpected: job loss, illness, urgent home or car repairs. A holiday or Christmas is not an emergency; save for those separately.
What if I use it?
That is what it is for. Pause other saving goals and top it back up first.
MoneyHelper: emergency savings · FSCS deposit protection. Figures are worked examples for planning, not financial advice.