Milestone map
Milestone map
3 milestones
Calculate target, open dedicated account, automate contributions
1 week
Calculate your 3-month minimum emergency fund target by listing all essential monthly expenses (rent/mortgage, utilities, food, transport, insurance, minimum debt payments) and multiplying by three. Open a dedicated savings account separate from everyday spending to eliminate accidental drawdown. Set up an automated monthly transfer on the day after your main income arrives — automation removes the decision and eliminates the most common failure mode.
Proof required
Screenshot of your completed expense calculation showing itemised monthly essentials and the resulting 3-month target, plus confirmation of the dedicated savings account opened and automated transfer set up.
What gets checked
- Target calculation shows itemised monthly essentials and the 3-month total
- Dedicated account opened and documented, separate from spending account
- Automated monthly transfer confirmed active
Common mistakes
- Setting the target too low by excluding irregular but essential costs — divide annual expenses like car insurance or dental by 12 and include them
- Keeping the fund in the main current account where it erodes imperceptibly over time through everyday spending
- Relying on manual transfers rather than automation, which requires monthly willpower the fund's purpose is to not need
Resources
Foundationstart here
Depthgo deeper
What a verifier looks for
- Verify the expense calculation covers genuine essentials and monthly total × 3 = stated target
- Confirm the dedicated account is real and separate (not a pot within the main bank account)
You'll sign in first, then come straight back here.
Reach 50% of the 3-month minimum target
12 weeks
Reach at least 50% of your calculated 3-month minimum emergency fund with bank statement evidence from the dedicated account. This milestone confirms the automation is working, the monthly contribution is sustainable, and the fund is not being raided for non-emergencies. If transfers are consistently unaffordable, this is the moment to recalibrate — not after three months of failed or reversed transactions.
Proof required
Bank statement from the dedicated emergency fund account showing the current balance is ≥50% of the stated M1 target, with automated contribution transactions visible in the statement history.
What gets checked
- Balance shown is ≥50% of the M1 target figure
- Statement is from the dedicated account, not the main spending account
- Automated contribution transactions visible confirming the system is running
Common mistakes
- Withdrawing from the fund for non-emergency purchases — discretionary spending does not constitute an emergency
- Setting the monthly transfer too high, disabling it once, and never re-enabling it — the fund stalls permanently below target
- Keeping the fund in a zero-interest account when a no-penalty easy-access account earns meaningfully above zero with zero additional friction
Resources
Foundationstart here
What a verifier looks for
- Verify the balance meets the 50% threshold against the M1 target
- Confirm the account is the same dedicated account opened in M1
- Confirm contribution amounts are consistent with the automation set up in M1 — irregular amounts are a signal of manual transfers or early withdrawals
You'll sign in first, then come straight back here.
Reach full 3-month minimum emergency fund
12 weeks
Reach 100% of your 3-month minimum emergency fund target and document it with a final bank statement. At this point the fund can absorb a job loss, medical bill, or major household repair without requiring debt. Consider whether 6 months is more appropriate for your risk profile (irregular income, dependants, specialised job market) and document your reasoning either way.
Proof required
Bank statement from the dedicated emergency fund account showing balance has reached or exceeded the full 3-month target from M1, plus a brief written note on whether to extend to 6 months and why.
What gets checked
- Balance shown equals or exceeds the full 3-month target from M1
- Statement is from the dedicated account opened in M1
- Written reflection on extending to 6 months included with reasoning
Common mistakes
- Withdrawing from the fund for a non-emergency in the final weeks and not replenishing before claiming the outcome complete
- Claiming completion on a spreadsheet calculation rather than a real bank statement
- Not reviewing whether 3 months is sufficient — irregular income earners and contractors almost always benefit from 6 months
Resources
Foundationstart here
What a verifier looks for
- Verify the balance shown equals or exceeds the M1 target — not merely close
- Confirm the statement date is within the last 30 days of submission
- Check the M2 and M3 account match — the same dedicated fund throughout
You'll sign in first, then come straight back here.
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