Build your first emergency fund
An emergency fund is money set aside for life's surprises: a broken boiler, a car repair, or a gap between jobs. It's the safety net that stops a setback from becoming debt.
How much?
A good target is 3 to 6 months of essential spending. Start smaller if that feels daunting — even £1,000 covers most common emergencies and builds the habit.
Where to keep it
Keep it in an savings account so you can reach it instantly, but earning a competitive rate. Don't invest your emergency fund — you want it stable and available, not riding the markets.
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This guide is general financial education, not personal advice. Always do your own research, and consider speaking to a regulated adviser for your specific circumstances.