How to build an emergency fund that actually lasts

An emergency fund is the foundation of every healthy financial plan. It turns a crisis into an inconvenience — a broken boiler, a surprise medical bill or a gap between jobs.

Start with one month

Six months of expenses is a great long-term target, but it is easier to start with one. Add up your essential monthly costs — rent, utilities, food, transport and debt repayments — and make that your first savings goal.

Automate it

The most reliable savers do not rely on willpower. Create a savings goal in One Bank and switch on auto-save to move a fixed amount every week or month, right after payday.

Keep it separate, but accessible

Your emergency fund should be easy to reach in a real emergency but not so easy that you dip into it for a weekend away. A dedicated savings goal earning monthly interest is ideal.

Top it up after you use it

If you need to use your fund, that is exactly what it is for. Once things settle, rebuild it by temporarily increasing your auto-save amount.