Start with essential spending
An emergency fund covers unplanned costs or a gap in income. The right amount depends on your situation.
List the expenses you would still pay if income stopped. Include housing, food, utilities, transport, insurance, and minimum debt payments.
Turn a target into months
Example: essential spending of $2,000 a month and $3,000 in emergency savings means 1.5 months covered. A three-month target would be $6,000, leaving a $3,000 gap. These figures illustrate the arithmetic.
Choose your next step
Think about income stability, dependants, and past unexpected bills. Start with an amount you can build, then review it as circumstances change.
In UntilFire, review Emergency savings in Plan → Contributions. Coverage uses the needs amount in your plan. Check that figure before relying on the months shown.