When will your emergency fund be fully stocked?
The short answer
A standard emergency fund is 3–6 months of essential expenses. For most Australians, that's $15k–$30k. At $250/week, you'll get there in 12–24 months. The date depends on your weekly amount.
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What "3–6 months" actually means in dollars
Add up rent/mortgage, groceries, utilities, transport, insurance, minimum debt payments. Multiply by 3 (lean target) or 6 (full target). That's your number.
The calculation everyone gets wrong
Don't include discretionary spending. The fund is for essentials only. Netflix can pause, dinners out can wait. Including them makes the target unreachably big.
Worked example: $20k emergency fund at $250/week
$20k ÷ $250/week = 80 weeks. About 18 months. With a 4% high-interest account, closer to 17.
Where to park it (offset accounts vs high-interest savings)
Mortgage offset is best if you have one. Every dollar saves interest. Otherwise a high-interest savings account at a different bank from your daily account. Avoid term deposits. You'll need access.
An emergency fund isn't pessimism. It's a permission slip to stay calm.
What to do once you've finished. The moment to switch goals
Stop adding once you hit the target. Redirect the auto-transfer to the next goal. House deposit, debt, investing. The system that built the fund builds the next thing too.
Try the calculator
Calculate your number. Lock the date. Move on with your life.
