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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 8,029Posts
    • 9,449Thanks
    patman99
    The £1,000 emergency fund challenge.
    • #1
    • 3rd Oct 14, 10:35 PM
    The £1,000 emergency fund challenge. 3rd Oct 14 at 10:35 PM
    For the idea for this after listerning to the 'Dave Ramsey Show'.

    The idea is to accumulate an emergency fund of £1,000 sitting in a Bank account just in case of emergencies.

    You must not leave yourself short in order to reach your goal.

    Members-
    #1 Patman99 .................................................. ..#2 Hummingbird
    #3 GaLa15 .................................................. .....#4 Trixibell
    #5 Making_The_Best_of_it ............................#6 Dolly Rocker
    #7 Nintud .................................................. ......#8 Speakingofart
    #9 Calling14 .................................................. .#10 Aloofdragon
    #11 Eyebright .................................................. #12 Chrisfreelander54
    #13 DreamerHelen ........................................#14 mobo1980
    #15 sunshinegirl66 .........................................#16 MrsSave
    #17 rosieben .................................................# 18 peony40
    #19 Buffythedebtslayer .................................#20 October Starter
    #21 monz .................................................. .....#22 georgiebrown0
    #23 Jubilee76 ................................................#2 4 Debt Free Desires
    #25 abundant1972 ..........................................#26 Toomuchtodo
    #27 I-need-to-be-debtfree ............................#28 WantToBeSe
    #29 Bobarella ................................................#3 0 Muser1
    #31 twiggy86 ................................................#3 2 laurababs
    #33 Roundthebend .......................................#34 Kermit2601
    #35 StressedSteph ........................................#36 YoungBusinessman
    #37 redlaces .................................................# 38 stiltoncheese
    #39 Magsnoodle ...........................................#40 MessyBetty
    #41 ruby_eskimo ..........................................#42 IrishRose12
    #43 carbootcrazy ..........................................#44 Simply_Saving
    #45 Dobbibill ...............................................#46 grassgirl
    #47 Ms.Dita .................................................# 48 On my way
    #49 CountingPennies ................................#50 Tilly MFW in 6 YRS
    #51 Hoipolloi ...............................................#52 pozza_73
    #53 newroadahead .......................................#54 Pinksteps
    #55 kdalwayskint ........................................#56 So Very Confused
    #57 marleyboy .............................................#58 bmma
    #59 Vkz .................................................. ......#60 Ep007
    #61 sophieo16 ...............................................#62 tinks112
    #63 Stereochild .............................................#64 Laurag89
    #65 Nicki_Sue ...............................................#66 Inthedoghouse
    #67 Depth of field .........................................#68 happybunny86
    #69 R2B .................................................. ......#70 Toomuchdebt
    #71 Mbizi .................................................. ...#72 littleangels3
    #73 dida80 .................................................. .#74 Harleyquinn
    #75 BabyBetty ..............................................#76 Sallybunny
    #77 Meezel ...............................................#78 rising from the ashes
    #79 newpennypincher ................................#80 damondash
    #81 Jonesy88 ..............................................#82 clumsychaos
    #83 MrCrimeFiction ...................................#84 MrsR68
    #85 29Found ..............................................#86 Kelxx
    #87 January2015 ........................................#88 Jacko_amz
    #89 Kayalana99 ..........................................#90 Andyfromotley
    #91 Jon81 .................................................. ..#92 astrid35
    #93 LullaBelle .............................................#94 BuildingBricksOfGold
    #95 Hadalbm ...............................................#96 Meatloaf1981
    #97 Daisychain1 ........................................#98 bestfootforward
    #99 *DramaQueen* ...................................#100 eveie189
    #101 Casper123 ..........................................#102 Lazer-zxr
    #103 DeafLeopard ......................................#104 nicing
    #105 joee .................................................. ..#106 Mrs Toast
    #107 RaspberryJiuce .................................#108 takingcontrolatlast
    #109 parsniphead .......................................#110 NoLifeWithoutYou
    #111 PollyPrissypants ................................#112 amber03
    #113 teeni .................................................. .#114 bogbrsh250
    #115 thegreenone .......................................#116 inamin
    #117 Hope78 ..............................................#118 Bored
    #119 King_Slayer .......................................#120 BettyBoof
    #121 Cat Girl ..............................................#122 Triangle
    #123 nannygladys ......................................#124 myamyamoo
    #125 nows the time ....................................#126 milky1991
    #127 Lina T ................................................#1 28 sugar123
    #129 evo5819 .............................................#130 *snow*white*
    #131 Digging ..............................................#132 belleandthebudget
    #133 Aphidgirl ............................................#134 Grabs39
    #135 Tinkerbelle2000 ................................#136 cybertortoise
    #137 Blue_Bird .........................................#138 Snorkypants
    #139 B17c .................................................# 140 lincs1205
    #141 stormpassing .................................#142 LittleMissDetermined
    #143 The Only Girl .....................................#144 nellis10
    #145 Swash .................................................# 146 Justforme
    #147 crv1963 ...............................................#14 8 mossy
    #149 Ellieseleven ........................................#150 bilbodreams
    #151 Claire1a ..............................................#152 mrs motivated
    #153 fairyclicks ..........................................#154 12 month challenge
    #155 chasingdreams ...................................#156 lexbubbles
    #157 Moonbean ......................#158 MadCoderWhatCodesAtMidnig
    #159 rylee12 ...............................................#16 0 JHiggins91
    #161 Dandytf ..............................................#162 5erge
    #163 nextyeartina ........................................#164 sarahm0rris
    #165 NeedToBeDebtFree ............................#166 moneytree1
    #167 strandedinaber .....................................#168 Heartland
    #169 Cutcostsandsave ..................................#170 Kim_13
    #171 PinkWhisk ..........................................#172 debbie_debt
    #173 Jo3y83 .......................................#174 Havecourageandbekind
    #175 Effyb4 .................................................# 176 Monks
    #177 doingitanyway ....................................#178 lcc86
    #179 Positivelypunked ...............................#180 evuka
    #181 BelleBelles19 ..................................#182 little library lady
    #183 Anna-marie3363 ............................#184 Meezel
    #185 LABMUM ........................................ #186 -Selene
    #187 PositiveBalance ..............................#188 Grandad's Offspring
    #189 Kimplus8 ........................................#190 Hanliam
    #191 Chazz.Collins .................................#192 TrushTush
    #193 swimminginaseaofdebt .....................#194 BlackFrosting
    #195 evo5819 ...........................................#196 Hermionesaver
    #197 cheesedoffwithdebt ........................#198 PennyJar
    #199 Julie67 ...............................................#20 0 Angelicious
    #201 Pinkwhisk .....................................#202 tibbles209
    #203 Lauralozzle ..................................#204 ButterflyBee
    #205 Smolly .........................................#206 Dobs
    #207 Treasurequeen ..............................#208 ab_saver
    #209 BeTheChange ..............................#210 Anita55
    #211 primalmother ................................#212 Kawaii corgi
    #213 Thora ...........................................#214 PoorGuyNextDoor
    #215 2sonmum ....................................#216 theresamum2
    #217 luvabargain ................................#218 missy83
    #219 willkeepontrying ......................#220 mumto2girlsandaboy
    #221 Bluelala ........................................#222 LianneH
    #223 Treasurequeen ..............................#224 Whoknowskt89
    #225 Foxyloxy11 .................................#226 Bird.Heart.Mouse
    #227 Stb ...............................................#22 8 Macey1510
    #229 Dreamtruce ..............................#230 IndigoWarrior
    #231 ploppy57 ....................................#232 Claremylove
    #233 foxyloxy11 ...................................#234 Muser1
    #235 XSpender .....................................#236 PlaysNicely
    #237 DancingUnicorn ..............................#238 thoragunnr
    #239 Jessop64 .........................................#240 quintwins
    #241 Mummy_bear .................................#242 BachFlower
    #243 mixmir ...........................................#244 Moneybutterfly
    #245 catralense ......................................#246 Narola1976
    #247 Farmeress ......................................#248 Billy12345

    This list is correct as of 19/1/17.
    Last edited by patman99; 02-09-2017 at 6:18 PM. Reason: List got 'lost'.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £244/ £1000 (that's 24.4%)

    3-6 month EF £240.61/£3600 (that's 4 days worth)

    Do you/your spouse earn less than £197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
Page 2
    • patman99
    • By patman99 10th Oct 14, 9:09 PM
    • 8,029 Posts
    • 9,449 Thanks
    patman99
    1 more and we can call ourselves the 'dirty dozen' (with my receding hair, I am starting to look a bit like Teli Savalis).

    Had to 'borrow' £1.80 last week as had a bill to pay that would have dropped my main account balance to nil. Paid today, so £1.90 put back across.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £244/ £1000 (that's 24.4%)

    3-6 month EF £240.61/£3600 (that's 4 days worth)

    Do you/your spouse earn less than £197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • Eyebright
    • By Eyebright 11th Oct 14, 9:31 AM
    • 860 Posts
    • 4,682 Thanks
    Eyebright
    So, I've checked what I already have in my Emergency Fund account, and.... there's £100.82 in there already! Way more than I thought, though wouldn't cover for much in a disaster

    Inspired, and spurred on by this nice surprise, I've trolled my other bank accounts and rounded down the money in them to nice round numbers, and have added a whopping £1.75 to the emergency fund
    Will add this challenge to my sig so I can keep track of it. But my Emergency Fund now stands at £102.57
    DFD Feb 2018 Total debt now £12672.13 £6919.63
    EFC #11 £150/£1000 = 15% achieved
    • chrisfreelander54
    • By chrisfreelander54 12th Oct 14, 8:39 PM
    • 437 Posts
    • 934 Thanks
    chrisfreelander54
    hope I,m not late
    I have already started our emergency fund which at present stands @ £400, but I'm hoping to get this to £1000 A.S.A.P, so I'm hoping this challenge will help motivate me.

    Chris
    Last edited by chrisfreelander54; 12-10-2014 at 8:43 PM.
    YNAB is my new best friend.
    • Eyebright
    • By Eyebright 12th Oct 14, 9:40 PM
    • 860 Posts
    • 4,682 Thanks
    Eyebright
    Welcome Chris, well done on already having £400 saved up. You are almost half way there already!
    DFD Feb 2018 Total debt now £12672.13 £6919.63
    EFC #11 £150/£1000 = 15% achieved
    • hummingbird
    • By hummingbird 12th Oct 14, 11:01 PM
    • 1,481 Posts
    • 7,388 Thanks
    hummingbird
    I've got the accurate figures at last and the amount available is £34.90 so that's my starting point.

    Well done all!!
    £10 a day extra in January[B]£27.56/310[/B]
    Sealed Pot#133 x2 from Sue. Pay off all your debt in 2017 - £200/£5000
    Virtual Sealed Pot #8 £21/£750
    Christmas 2017 £1 a day #95 £30/£365
    You can find my diary here:http://forums.moneysavingexpert.com/showthread.php?t=5189836
    • DreamerHelen
    • By DreamerHelen 12th Oct 14, 11:32 PM
    • 2,498 Posts
    • 13,430 Thanks
    DreamerHelen
    Hi There, can I Join this please? It might take me rather a long time to save up £1000 but I really need to have some sort of an Emergency Fund....


    I've started with £3 tonight....So I feel pleased with that
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • mobo1980
    • By mobo1980 13th Oct 14, 7:06 AM
    • 335 Posts
    • 1,770 Thanks
    mobo1980
    please can i join too At the minute I have a whopping £5.64

    Mobo xx
    CC1-£1729.53
    CC2-£4323.00
    LOAN-£14,519.05
    TOTAL DEBT £20,571.58
    Then there's the mortgage
    • Eyebright
    • By Eyebright 13th Oct 14, 7:17 AM
    • 860 Posts
    • 4,682 Thanks
    Eyebright
    Hi There, can I Join this please? It might take me rather a long time to save up £1000 but I really need to have some sort of an Emergency Fund....


    I've started with £3 tonight....So I feel pleased with that
    Originally posted by DreamerHelen
    please can i join too At the minute I have a whopping £5.64

    Mobo xx
    Originally posted by mobo1980
    Welcome DreamerHelen and Mobo1980! It will take me a while to save up £1000 too Helen, it's taken me most of this year to save £100 but every little helps!
    DFD Feb 2018 Total debt now £12672.13 £6919.63
    EFC #11 £150/£1000 = 15% achieved
    • mobo1980
    • By mobo1980 13th Oct 14, 8:43 AM
    • 335 Posts
    • 1,770 Thanks
    mobo1980
    Thankyou Eyebright

    It will take me a long while too!

    Mobo xx
    CC1-£1729.53
    CC2-£4323.00
    LOAN-£14,519.05
    TOTAL DEBT £20,571.58
    Then there's the mortgage
    • chrisfreelander54
    • By chrisfreelander54 13th Oct 14, 9:57 AM
    • 437 Posts
    • 934 Thanks
    chrisfreelander54
    Welcome Chris, well done on already having £400 saved up. You are almost half way there already!
    Originally posted by Eyebright
    Thank you for the warm welcome eye bright, its gonna take a while to get there as all overtime at work has been cancelled untill further notice.
    YNAB is my new best friend.
    • Aloofdragon
    • By Aloofdragon 13th Oct 14, 12:10 PM
    • 336 Posts
    • 1,357 Thanks
    Aloofdragon
    I know it's really odd but I always feel really guilty saving money whilst having so much debt but I do know emergency funds are totally essential to getting debt free .. and stopping the cycle.
    Weightloss -36.5lb/64lb.
    Christmas savings £200/£800.
    Hol savings £300 /£500.
    Birthday savings £50 /£100.
    100 days #20 Credit union £40/£1150
    • Dolly Rocker
    • By Dolly Rocker 13th Oct 14, 2:50 PM
    • 3,330 Posts
    • 9,427 Thanks
    Dolly Rocker
    Well done to all you emergency funders!

    I still have £0.00 so you are all doing way better than me!

    Will be end of each month when I add mine in more than likely.

    Dxxx
    Goals
    Debt free by Christmas 2017
    Save for Christmas 2017
    Goal weight of 10st 7lbs by Christmas
    Add to deposit savings
    • Dolly Rocker
    • By Dolly Rocker 13th Oct 14, 2:52 PM
    • 3,330 Posts
    • 9,427 Thanks
    Dolly Rocker
    Anyone else wondering what on earth is goin on with the signatures?!?!

    They have gone a bit crazy!

    Dxxx
    Goals
    Debt free by Christmas 2017
    Save for Christmas 2017
    Goal weight of 10st 7lbs by Christmas
    Add to deposit savings
    • DreamerHelen
    • By DreamerHelen 13th Oct 14, 7:18 PM
    • 2,498 Posts
    • 13,430 Thanks
    DreamerHelen
    Thanks for the lovely Welcome Eyebright....£100 saving is great!! I'll be ecstatic when I get to my first £100....


    Put another £2.32 in the Emergency Fund Account tonight...feels really good to do this Positive thing...
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • Aloofdragon
    • By Aloofdragon 13th Oct 14, 7:25 PM
    • 336 Posts
    • 1,357 Thanks
    Aloofdragon
    I have bit the bullet and transferred £10 into my emergency fund yay not zero anymore ... What emergency am I ready for with £10 in the kitty I wonder
    Weightloss -36.5lb/64lb.
    Christmas savings £200/£800.
    Hol savings £300 /£500.
    Birthday savings £50 /£100.
    100 days #20 Credit union £40/£1150
    • Eyebright
    • By Eyebright 13th Oct 14, 8:30 PM
    • 860 Posts
    • 4,682 Thanks
    Eyebright
    I know it's really odd but I always feel really guilty saving money whilst having so much debt but I do know emergency funds are totally essential to getting debt free .. and stopping the cycle.
    Originally posted by Aloofdragon
    I know what you mean, but I know without doubt that I will only end up adding to my debts before they are paid off if I don't have something in place!

    Dolly, I probably won't be able to add anything more to mine until payday (24th this month) either. Anything spare left at the moment has to go on Christmas presents as I need to have mine sorted by the 14th November as that is when I'm going home to see my family! I have a big family too

    Well done everyone, every penny counts! Just think that every £10 you add is another 1% closer to the final amount!
    DFD Feb 2018 Total debt now £12672.13 £6919.63
    EFC #11 £150/£1000 = 15% achieved
    • patman99
    • By patman99 13th Oct 14, 8:42 PM
    • 8,029 Posts
    • 9,449 Thanks
    patman99
    Everyone is welcome here.
    Having an emergency fund inplace whilst still having debt is not as crazy as it appears aloofdragon. If you have a kitchen appliance pack up and need to replace it, you can pay in cash rather than having to increase your debt load with a loan or by adding it to your credit card.

    Might struggle to add much over the next few weeks as car tax is due end Nov. (luckily it is only about £120 for the year).

    * I also noticed the signatures have gone a bit awry.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £244/ £1000 (that's 24.4%)

    3-6 month EF £240.61/£3600 (that's 4 days worth)

    Do you/your spouse earn less than £197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • Eyebright
    • By Eyebright 13th Oct 14, 9:59 PM
    • 860 Posts
    • 4,682 Thanks
    Eyebright
    Yeah, what's going on with the siggy's???!
    DFD Feb 2018 Total debt now £12672.13 £6919.63
    EFC #11 £150/£1000 = 15% achieved
    • patman99
    • By patman99 13th Oct 14, 10:15 PM
    • 8,029 Posts
    • 9,449 Thanks
    patman99
    Right, I have just gone to 'User CP' and clicked on 'EDit signature'. All looked as it should, so I saved it and hey presto. Signature is back as it should be.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £244/ £1000 (that's 24.4%)

    3-6 month EF £240.61/£3600 (that's 4 days worth)

    Do you/your spouse earn less than £197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • hummingbird
    • By hummingbird 13th Oct 14, 11:24 PM
    • 1,481 Posts
    • 7,388 Thanks
    hummingbird
    Thanks patman, just done the same and it worked!
    £10 a day extra in January[B]£27.56/310[/B]
    Sealed Pot#133 x2 from Sue. Pay off all your debt in 2017 - £200/£5000
    Virtual Sealed Pot #8 £21/£750
    Christmas 2017 £1 a day #95 £30/£365
    You can find my diary here:http://forums.moneysavingexpert.com/showthread.php?t=5189836
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