Months of cover
Enter both figures to see the result.
A strong cushionEnough to ride out most setbacks.
A comfortable cushionRoom for most surprises.
A thinning cushionBuilding toward Comfortable would give you more room.
Almost no cushion leftAn unexpected bill would have to be paid from somewhere else.
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How it is worked out
Months of cover = money set aside ÷ monthly spending, to one decimal place.
The accounts are added up, so an overdraft in one is taken off the savings in another, and a total below zero counts as nothing set aside. Loans and credit cards are not taken off, because the question is what you could reach, not what you are worth.
Worked example
With 7,500 set aside and spending of 2,000 a month, the cover is 7,500 ÷ 2,000 = 3.75, shown as 3.8 months (A comfortable cushion).
How many months of emergency fund is enough?
| Months of cover | What it means |
|---|---|
| 6 or more | A strong cushionEnough to ride out most setbacks. |
| 3 to under 6 | A comfortable cushionRoom for most surprises. |
| 1 to under 3 | A thinning cushionBuilding toward Comfortable would give you more room. |
| Under 1 | Almost no cushion leftAn unexpected bill would have to be paid from somewhere else. |