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  • FIRST POST
    • DreamerHelen
    • By DreamerHelen 20th Oct 15, 8:30 AM
    • 2,467Posts
    • 13,281Thanks
    DreamerHelen
    3-6 Month Emergency Fund Challenge!!
    • #1
    • 20th Oct 15, 8:30 AM
    3-6 Month Emergency Fund Challenge!! 20th Oct 15 at 8:30 AM
    Morning Everyone....


    I have been wondering for MONTHS now about what would happen if there was some kind of Emergency....I am self-employed and also starting a new Business which will also be on a self-employed basis....so I will never get holiday pay or sick pay....although I AM hoping to maybe get an employed Job but that would only be for a couple of days a Week so it won't cover me completely if something were to happen....


    My health is not wonderful at the moment, and hasn't been for a while, but I'm going to start trying to lose Weight once I've moved Flats (which I'm doing this Weekend!!).


    So the point of this Challenge is to save up at least 3 month's worth of wages....that can be a different amount for each person....and some people might want to save up to 6 months if they are feeling ambitious!!


    Me personally, I want to save 3 months worth of wages which for me will be 6000.


    Now, there is ABSOLUTELY NO TIME LIMIT on this Challenge...in fact I suspect it could take me Years to get to the point of having 3 months wages as Savings....For now I can only afford 5 per week but as my new Business builds up (hopefully!!) then I should be able to afford more.


    This Thread is mainly for us all to encourage each other to keep on Saving and to celebrate when we reach milestones, however large or small they may be.....Like for me, when I get to having 500 I will be ecstatic!!


    I also wanted to say that if at any time an emergency crops up and you need to use your Fund and then start again then please don't worry about doing that.....It's what the Emergency Fund is there for after all....


    I don't like having Savings in the Bank as I get too tempted to spend them so I'm going to invest in a Terramundi to put my Savings into at least at first......but other's may choose to use their Bank Accounts or a Tin from Poundworld...or stuff it under your Mattress!!


    Sooooo.....Here we go.....I'll add the names below as people Join....xXx




    CHALLENGERS
    1) DreamerHelen - GOAL: 6000 CURRENTLY: 25/6000
    2) Dobbibill - GOAL: 8700 CURRENTLY: 8428.19/8700
    3) Patman99 - CURRENTLY: 85
    4) LittleMissDetermined - GOAL: 7129 CURRENTLY: 1000/7129
    5) Sophieo16 - GOAL: 3000 CURRENTLY: 3000/3000 - COMPLETE!!
    5) Sophieo16 - NEW GOAL: 4000 CURRENTLY: 1284.82/4000
    6) Crv1963 - INITIAL GOAL: 7800 CURRENTLY: 10/7800
    7) Mothernerd - INITIAL GOAL: 1000 CURRENTLY: 1000/1000 COMPLETE!!
    8) Stewby - GOAL: 2000 CURRENTLY: 230.76/2000
    9) stoplurking - GOAL: 4000 CURRENTLY: 1662/4000
    10) crazy_cat_lady - GOAL: 6338 CURRENTLY: 17.66/6338
    11) stormpassing - GOAL: 5400 CURRENTLY: 30/5400
    12) carbootcrazy - GOAL: 3000 CURRENTLY: 870/3000
    13) Munchin - GOAL: 6000 CURRENTLY: 1635/6000
    14) traveller - INITIAL GOAL: 1000
    15) Freysmum - GOAL: 8500 CURRENTLY: 8232/8500
    16) The Only Girl - GOAL: 12,000 CURRENTLY: 9359.36/12,000
    17) Southern-girl - GOAL: 5000 CURRENTLY: 437/5000
    18) dubsteppenguin - GOAL: 5000 CURRENTLY: 250/5000
    19) DuranGirl - GOAL: 6000 CURRENTLY: 5000/6000
    20) WantToBeSE - GOAL: 5000 CURRENTLY: 1000/5000
    21) black cat - GOAL: 6000 CURRENTLY: 6000/6000 - COMPLETE!!
    22) lexbubbles - GOAL: 4600 CURRENTLY: 2158.63/4600
    23) ani*fan - GOAL: 3000 CURRENTLY: 40.29/3000
    24) Keeping Motivated - GOAL: 6000 CURRENTLY: 6000/6000 - COMPLETE!!
    24) Keeping Motivated - NEW GOAL: 6000 CURRENTLY: 1140/6000
    25) rylee12 - GOAL: 6000
    26) Rosylee - GOAL: 8850 CURRENTLY: 60/8850
    27) BlackFrosting - GOAL: 2700 CURRENTLY: 69.37/2700
    28) Westbeef - GOAL: 5000
    29) skye blue - GOAL: 3000 CURRENTLY: 1020/3000
    30) MrsSave - GOAL: 5000 CURRENTLY: 1241.36/5000
    31) crimson.addict - GOAL: 10,000 CURRENTLY: 350/10,000
    32) linc1205 - GOAL: 20,000 CURRENTLY: 20/20,000
    33) Brass_Triumphant - GOAL: 5000 CURRENTLY: 450/5000
    34) Christa27 - GOAL: 3000
    35) Wishfullthinking2 - GOAL: 4500
    36) x_raphael_xx - GOAL: 4000 CURRENTLY: 425/4000
    37) moneymakestheworldgoround - GOAL: 3000
    38) georgiebrown0 - GOAL: 6000
    39) Sharon87 - GOAL: 1500 CURRENTLY: 330/1500
    40) BabyBetty - GOAL: 5000 CURRENTLY: 276/5000
    41) -Selene - GOAL: 5000 CURRENTLY: 691.69/5000
    42) Thistlewhistle - GOAL: 5000 CURRENTLY: 2500/5000
    43) abundant1972 - GOAL: 4500 CURRENTLY: 2550/4500
    44) castlelough - GOAL: €3000 CURRENTLY: €86/€3000
    45) MLAB - INITIAL GOAL: 450
    46) milasavesmoney - GOAL: $15000 CURRENTLY: $11,273/$15000
    47) WatWing - GOAL: 3900 CURRENTLY: 250/3900
    48) happytails - GOAL: 8400
    49) Grandad's Offspring - GOAL: 5000 CURRENTLY: 80/5000
    50) Smodlet - GOAL: 3000 CURRENTLY: 325/3000
    51) JCUK - GOAL: 6000 CURRENTLY: 1250/6000
    52) Mooloo - GOAL: 4000 CURRENTLY 100/4000
    53) aphill24 - GOAL: 5000 CURRENTLY: 1100/5000
    54) evo5819 - GOAL: 3000
    55) mum-to-many - GOAL: 3000 CURRENTLY: 306/3000
    56) oh2bdebtfree - GOAL: 6000
    57) Keedie
    58) AnxiousHomemaker - INITIAL GOAL: 500 CURRENTLY: 15/500
    59) PoorGuyNextDoor - GOAL: 5300
    60) angelicious - GOAL: 7200 CURRENTLY: 270/7200
    61) misselvis - GOAL: 6000
    62) benten69 - GOAL: 10,750 CURRENTLY: 230/10,750
    63) TopsyMum - GOAL: 1000
    64) Poor_Single_lady - GOAL: 5000 CURRENTLY: 80/5000
    65) swimminginaseaofdebt - GOAL: 9000 CURRENTLY: 15.71/9000
    66) Dragon Lily - GOAL: 3000 CURRENTLY: 876/3000
    67) FrugalinShropshire - GOAL: 7200
    68) Determined diva - GOAL: 2000 CURRENTLY: 192/2000
    69) muppets - GOAL: Euro 15,000 CURRENTLY: Euro 3750/15,000
    70) dfbefore30 - GOAL: 5000 CURRENTLY: 1541/5000
    71) indigowarrior - GOAL: 6000
    72) angelpye - GOAL: 4200

    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by DreamerHelen; Yesterday at 5:11 AM.
    Pay ALL Your Debts Off By Xmas 2017 #13 95/2850 6000 Emergency Fund #1 25/6000 (Initial Goal) General 1000 Emergency Fund #13 0/1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
Page 69
    • Dobbibill
    • By Dobbibill 7th Feb 17, 8:48 PM
    • 1,962 Posts
    • 3,080 Thanks
    Dobbibill
    And what a win it was. Makes the long journey home a lot easier when the results go right doesn't it?. I know I said I'm not a rugby fan but I like to take notice of major happenings in various teams and sports.
    Originally posted by carbootcrazy
    Finally home, brilliant trip, did lots of other things while we were there too but the most important thing was the game and of course the win........absolutely loved it.
    I did my usual.....jump up and down, scream, shout and wave of the flag not at all passionate here
    If you always do what you've always done,
    you will always get what you've always got!

    1000 EF #45 = 140%
    3-6 mnth EF #2 = 96.88%
    Christmas savings 2017 = 25.00%
    • Mooloo
    • By Mooloo 8th Feb 17, 6:39 AM
    • 8,740 Posts
    • 43,299 Thanks
    Mooloo
    I have had to use my emergency funds to bail out my son and his GF to save them from eviction.
    So I am back down to 100!
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
    • abundant1972
    • By abundant1972 8th Feb 17, 6:30 PM
    • 1,073 Posts
    • 7,745 Thanks
    abundant1972
    Happy (belated!) February!

    Where has the time gone? So I'm a little late checking in... and so great to read how well everyone is doing! And Helen... Paris? I went to Disneyland years ago with my niece and nephew and it was amazing!!! I liked the 'Pirates of the Caribbean' ride haha! Anyhow... This month:

    Amount added = 250
    3-6 Month EF = 2550/4500


    Another 2 months and I'll hit 2/3 of the way (2 months Wages) and then another 6 months - so by end Sept/start Oct I should have reached my 4500 target... Then I just have to do it all over again to reach 6 months Wages in my EF haha! baby steps though...

    Keep up the good work folks!!!
    ** 0% Debt 1662.50 DFD 30/09/17**
    Follow your heart & be true to yourself always
    Help To Buy ISA = 3400.00. EF = 2800.00/4500.00
    NST Mar : NSD=0/15. Food = 47.85/100.00. Spends=15.95/100.00
    365 Day 1p Challenge = 69.41/667.95. 1.00 a Day = 90.00/365.00
    Meditation = 1/5. Nature Walk = 1/1. Gym = 0/2. Cash Bonus = 51.00/399.00
    • Freysmum
    • By Freysmum 8th Feb 17, 9:29 PM
    • 148 Posts
    • 1,047 Thanks
    Freysmum
    I have had to use my emergency funds to bail out my son and his GF to save them from eviction.
    So I am back down to 100!
    Originally posted by Mooloo
    What a brilliant mum you are Mooloo xx
    Mortgage 02/2017 45,161
    2017 MFW #81 1100/3000 36.6%
    EF #14 8331/8500 98.01%
    DS1 wedding fund 3800/5000 76%
    DD World Challenge school trip fund 955/1565 61%
    • x_raphael_xx
    • By x_raphael_xx 10th Feb 17, 4:53 PM
    • 3,232 Posts
    • 15,565 Thanks
    x_raphael_xx
    45 added to EF today. Spare wages.

    280/4000
    Debt Free as of 17/01/2009 Turtle Power!!
    Feb Grocery Challenge 156.66/120 Feb NSD's 17/20
    EF Challenger #36 425/4000
    / Lose weight 2.0/10lbs
    • LittleMissDetermined
    • By LittleMissDetermined 10th Feb 17, 6:42 PM
    • 1,512 Posts
    • 5,923 Thanks
    LittleMissDetermined
    ^^ I wish I had spare wages lol
    Target Debt Free Day 27th Jun 2018
    Life gets in the way...PADding is addictive... Saving's better than spending...

    1000 EF Challenge #142 1005.62/1000 ... 3-6Mth Wages Challenge #4 1000 /7129...
    24 23 22 21 20 19 18 17 months of Debt-busting to go...
    • x_raphael_xx
    • By x_raphael_xx 10th Feb 17, 8:44 PM
    • 3,232 Posts
    • 15,565 Thanks
    x_raphael_xx
    ^^ I wish I had spare wages lol
    Originally posted by LittleMissDetermined
    Lol
    I work on hourly wages, different rates depending on the later you work. In my budget spreadsheet I put my income as the lowest possible weekly wage I can get, anything over is a bonus. So if I work later, or I'm on accounts...spare money!!
    Debt Free as of 17/01/2009 Turtle Power!!
    Feb Grocery Challenge 156.66/120 Feb NSD's 17/20
    EF Challenger #36 425/4000
    / Lose weight 2.0/10lbs
    • The Only Girl
    • By The Only Girl 11th Feb 17, 9:45 PM
    • 841 Posts
    • 7,094 Thanks
    The Only Girl
    Hi all, we had 90.15 cash back from hubby's quidco and 22.86 from savings on direct debits added to the EF, taking our totals from 8172.18 to 8285.19. I'm still waiting for 97.94 to be transferred over from my quidco, and 5 from receipt hog. I am also due to receive 100 from Nationwide after I switched my current account with them. I'll update when they're in the bank already.
    "There is Life AFTER DEBT."
    LBM 2009 Total Debt 49046.24 Debt Free as of 27/08/2015
    Emergency Fund 9,359.36
    • DreamerHelen
    • By DreamerHelen 12th Feb 17, 12:47 AM
    • 2,467 Posts
    • 13,281 Thanks
    DreamerHelen
    Morning Everyone....

    I hope everyone is well....It's been a difficult few weeks (well actually a difficult few months)....but hopefully I'll get there....Onwards and Upwards as they say...

    Here's to the Updates.... xXx

    LittleMissDetermined - I hope you enjoy the Canaries....when are you off there?

    x_raphael_xx - I've set your New Goal....You're doing AWESOME!! I know you can do it.... xXx

    Dobbibill - Paris was definitely needed and I'm really pleased that I managed to get away for a few days.....How was Italy? I've Updated the First Page...You're doing AMAZING!! Keep going hun xXx

    carbootcrazy - How are you doing? How are you getting on?

    The Only Girl - I've Updated the First Page...You're doing INCREDIBLE!! Keep going and move forwards xXx

    skye blue - I've Updated the First Page...You're doing BRILLIANT!! I know you're going to do it....keep going xXx

    Freysmum - I've Updated the First Page....You're doing AWESOME!! Keep going...I know you can do it ... xXx

    Mooloo - I've Updated the First Page...You're doing AMAZING....I really admire that you've helped your children out.... xXx

    abundant1972 - I've Updated the First Page....You're doing INCREDIBLE...keep going.....Unfortunately Pirates was closed when I was there....hopefully it will open later this Year....fingers crossed.... xXx
    Pay ALL Your Debts Off By Xmas 2017 #13 95/2850 6000 Emergency Fund #1 25/6000 (Initial Goal) General 1000 Emergency Fund #13 0/1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • LittleMissDetermined
    • By LittleMissDetermined 12th Feb 17, 11:31 AM
    • 1,512 Posts
    • 5,923 Thanks
    LittleMissDetermined
    Only 10 days to go to hols and I've got my currency, so please adjust the total to 1000 please, I still have a full EF in addition and once I'm back from hols it's pay day so I'll be popping some more into the fund

    LMD xx
    Target Debt Free Day 27th Jun 2018
    Life gets in the way...PADding is addictive... Saving's better than spending...

    1000 EF Challenge #142 1005.62/1000 ... 3-6Mth Wages Challenge #4 1000 /7129...
    24 23 22 21 20 19 18 17 months of Debt-busting to go...
    • skye blue
    • By skye blue 13th Feb 17, 6:26 PM
    • 51 Posts
    • 311 Thanks
    skye blue
    hi all

    hope your looking after yourself helen

    please add 50 to my total wow a magical 1,000 now amazing im so chuffed, hope i can keep hold of it!

    keep warm everyone x
    • x_raphael_xx
    • By x_raphael_xx 13th Feb 17, 10:05 PM
    • 3,232 Posts
    • 15,565 Thanks
    x_raphael_xx
    BF handed me 20 today towards some money he owes me. I wasn't expecting it so decided I wouldn't miss it & popped it into my savings.

    300/4000 7.5% percent
    Debt Free as of 17/01/2009 Turtle Power!!
    Feb Grocery Challenge 156.66/120 Feb NSD's 17/20
    EF Challenger #36 425/4000
    / Lose weight 2.0/10lbs
    • The Only Girl
    • By The Only Girl 13th Feb 17, 10:46 PM
    • 841 Posts
    • 7,094 Thanks
    The Only Girl
    Hugs dreamerhelen xx
    "There is Life AFTER DEBT."
    LBM 2009 Total Debt 49046.24 Debt Free as of 27/08/2015
    Emergency Fund 9,359.36
    • muppets
    • By muppets 15th Feb 17, 11:02 AM
    • 534 Posts
    • 4,277 Thanks
    muppets
    Here's to the Updates....

    muppets - I've Updated the First Page...I couldn't find a Euro Symbol on my Computer so I've just written "Euro" ... I hope that's okay.....And you're doing AWESOME already...Keep going xXx
    Originally posted by DreamerHelen
    Hi Helen, just stopping by quick with an update. 3,750 / 15,000
    If it makes it easier for you, I don't mind if you use the for my figures.
    PAYDBX 2017 - #01 Pd 1,928.82 / 11,000 - 17.53%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF
    3,750 / 15,000
    Wombles #24 = 218.85
    Mortgage - PD 78,341.39 / 271,495.07 28.85% MF Aug 2038 Sept 2035
    My diary - Making a move on debt
    • Freysmum
    • By Freysmum 18th Feb 17, 8:41 PM
    • 148 Posts
    • 1,047 Thanks
    Freysmum
    Big hugs Helen the way you have coped with everything that life has thrown at you recently is incredible xx

    My new EF is 8232 and whilst i am getting very close to my target, I have a (large!) final payment to make next month for my DD's school trip so I'm hoping April will see me hit target. Life is a little hard at the moment with me being the only one earning (and don't see that changing anytime soon) but I'm working 7 days a week to make sure all the bills are paid and my DD doesn't miss out on the opportunities her friends have.
    Mortgage 02/2017 45,161
    2017 MFW #81 1100/3000 36.6%
    EF #14 8331/8500 98.01%
    DS1 wedding fund 3800/5000 76%
    DD World Challenge school trip fund 955/1565 61%
    • skye blue
    • By skye blue 20th Feb 17, 6:05 PM
    • 51 Posts
    • 311 Thanks
    skye blue
    hi helen and everyone

    hope life treating you all kindly

    just 10 this week, small amount but keeping up with a payment each week

    bit fed up with the interest rate going down, it takes so long to get a little amount together and makes you think why bother but never mind we just keep going eh

    it is for emergencies after all not the high life luckily
    • Dobbibill
    • By Dobbibill 20th Feb 17, 6:22 PM
    • 1,962 Posts
    • 3,080 Thanks
    Dobbibill
    Hi Everyone,

    Helen - my usual Pay Day update

    #2 added 201.50 - new total 8428.19 aka 96.88%

    will be updating my signature in a bit

    keep on keeping on - it's so worth it in the end

    Dobbi
    If you always do what you've always done,
    you will always get what you've always got!

    1000 EF #45 = 140%
    3-6 mnth EF #2 = 96.88%
    Christmas savings 2017 = 25.00%
    • DreamerHelen
    • By DreamerHelen 24th Feb 17, 6:29 AM
    • 2,467 Posts
    • 13,281 Thanks
    DreamerHelen
    I always feel like I'm apologising for not being here enough...I'm so sorry again for disappearing....things are very up and down for me right now....so one minute I'm on top of the world and the next minute I can barely get out of bed....so it's very difficult right now...All I can ask is that you bear with me and I'll do my very best to be here when I can be...I hope that's all okay with you all...

    So nothing to report moneywise for me....But I'm hoping to put some significant money in during the next couple of weeks...fingers crossed....

    All we can do is keep going....sometimes it's uphill, sometimes downhill...But don't they say the Journey is what makes it all worthwhile?....I believe in that....and sometimes it's a hell of a journey!!

    So here's to the Updates... xXx

    LittleMissDetermined - I've Updated the First Page....I'm a little confused so just wanted to check that I've understood right and that your Total is 1000? You're doing AWESOME!! By now you'll be on your Holiday...I hope you're having a wonderful time hun....And that you're nicely relaxed when you get back xXx

    skye blue - I've Updated the First Page.....WOW, you're over the 1000 mark....That's AMAZING!! Keep on going...I know you'll get there....I'm doing okay thanks hun....very up and down but I'll get there... xXx

    x_raphael_xx - I've Updated the First Page...You're doing BRILLIANTLY!! Keep on going....How are things going for you? xXx

    The Only Girl - Thank you for the hugs hun...I'm up and down but today is a good day so far...let's hope it stays that way...I hope you are good too xXx

    muppets - I've Updated the First Page...You're doing absolutely AMAZING!! Just keep on going xXx

    Freysmum - I've Updated the First Page..You're doing AWESOME and so very close!! I know you're working hard and it's paying off...so keep on going....but do take a little time to relax if you can do hun....And thank you for your words...I'll get there xXx

    Dobbibill - I've Updated the First Page...You're doing BRILLIANTLY!! You're so close too!! I know you will do it....I have every faith in you...and like you said, keep on keeping on... xXx
    Pay ALL Your Debts Off By Xmas 2017 #13 95/2850 6000 Emergency Fund #1 25/6000 (Initial Goal) General 1000 Emergency Fund #13 0/1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • x_raphael_xx
    • By x_raphael_xx 24th Feb 17, 6:53 PM
    • 3,232 Posts
    • 15,565 Thanks
    x_raphael_xx
    Another 125 added to EF.
    425 / 4000
    Over 10%

    Boss handed me 100 in an envelope as a thank you for training someone. I'm only doing my job!
    Straight in my savings
    Debt Free as of 17/01/2009 Turtle Power!!
    Feb Grocery Challenge 156.66/120 Feb NSD's 17/20
    EF Challenger #36 425/4000
    / Lose weight 2.0/10lbs
    • stoplurking
    • By stoplurking 25th Feb 17, 7:46 AM
    • 313 Posts
    • 1,988 Thanks
    stoplurking
    Hi everyone
    Helen I'm so sorry things are tough for you at the moment, hope better times are round the corner. Thanks for still updating us all.
    My fund is growing ever so slowly, I'm trying to save for other things at the same time so once I've done that hopefully my EF will grow more quickly.
    Anyway, it's now aT #9 1662/4000
    Good luck for the month ahead everyone.
    LBM Oct12 Debts at LBM 17715.93.
    Orig DFD Apr15 DFD 24/12/13
    3-6monthEFC#9 1661/4000 41.5%
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