Build your emergency fund step by step
Turn your chosen coverage into a target and a saving plan.
The main idea
An emergency fund sets aside money for unexpected costs or reduced income. Its target depends on the essential monthly expenses you choose to cover and the number of months you select. There is no universal figure in this tool.
Prepare your inputs
Identify the costs you would still need to pay if income fell: housing, food, utilities, essential transport and committed repayments. Including all discretionary spending instead produces a different target; use a deliberate, consistent definition.
A worked example
For €1,300 of essentials and six chosen months, the target is €7,800. With €1,500 already available, €6,300 remains. Depositing €200 per month requires 32 complete deposits, without interest.
How the model works
At €300 monthly deposits the same gap takes 21 months. In the €200 case, the last complete deposit takes you slightly above the target because completion time rounds up to a whole month.
What to watch for
Separate emergencies from predictable bills. A known annual invoice can have its own monthly provision. Money already committed to a purchase is also different from money genuinely available for an emergency.
Review your decision
Update the inputs after using part of the fund or when essential expenses change. The model assumes no withdrawals and no returns during the saving period, so it is a reference plan rather than a guarantee.