Emergency fund calculator

This emergency fund calculator works out how big a safety net you need in months of expenses, how much you’re still missing and how long it’ll take to complete it at your current savings rate.

Why measure it in months of expenses

An emergency fund is money set aside for the unexpected — a car repair, a medical bill, a job loss — without going into debt or selling investments at a bad time. It’s measured in months of expenses: how many months you could cover if your income stopped entirely.

Example: €1,500 a month in expenses

With €1,500 in monthly expenses and a 6-month target, the ideal fund is €9,000. If you already have €4,000 saved, you’re €5,000 short — and saving €300 a month would close that gap in 17 months.

For guidance only — not financial advice.

FAQ

How big should an emergency fund be?

The usual guideline is 3 to 6 months of your essential expenses. If your income is irregular (freelance, commission-based) or your job is unstable, aim for 6-12 months.

Is it based on expenses or income?

On monthly expenses, because that's what you'd need to get by if your income stopped. Count essential costs: housing, utilities, food, transport and debt payments.

Where should I keep the emergency fund?

In something safe and instantly accessible, like a high-yield savings account or a penalty-free deposit. Avoid volatile investments — the whole point is that it's there exactly when markets might be down.