In short
- It is measured in months of essential expenses, not salary.
- A common reference is 3 to 6 months, depending on how stable your income is.
- Keep it accessible and risk-free, separate from your everyday account.
What it is and what it is for
An emergency fund is money set aside for costs you cannot predict: a breakdown, a medical bill or a few months without income. Its job is not to earn a return but to stop an unexpected event from forcing you into debt or into selling an investment at a bad time.
How much you need
It is measured in months of essential expenses: the ones you would keep paying even if your income stopped (housing, food, utilities, transport, insurance and minimum debt payments). Leave out leisure and anything you could cut straight away.
- With a stable income and other sources of support, a common reference is 3 months.
- If your income varies, you are self-employed or you are the household's only earner, aim for 6 months or more.
There is no universal figure: choose the one that lets you sleep well in your situation.
A worked example
| Essential expenses per month | €1,400 |
| Target coverage | 6 months |
| Target fund | €8,400 |
| Already saved · saving per month | €2,000 · €300 |
| Time to complete it | 22 months |
Today that money covers 1.4 months. Each €300 you add buys a little over a week of coverage.
Where to keep it
The fund must be available within a few days and without risk of losses: a savings account or a deposit with no early-withdrawal penalty are common choices. Keep it separate from your everyday account so you do not spend it without noticing.
Work it out with your numbers
The calculator shows how many months you cover today, how much is missing and how long it will take to complete with what you can save.