A new formula that allows the first natural frequency of transverse vibrations of axially loaded steel helical springs to be determined has been presented in the paper. The relationship is easy to use and allows finding the first natural frequency of spring vibrations without the necessity of solving analytical or numerical models. According to the authors’ knowledge, this is the first such a formula and, consequently, when this frequency becomes zero, it enables determination of the critical axial force or deflection causing the buckling of the spring. The way of obtaining the described formula is presented in the paper. The results of this formula are compared with those obtained using FEM and experiments. The advantages, drawbacks and limitations of the proposed relationship are also discussed.