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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 8,032Posts
    • 9,450Thanks
    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
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    #19 Buffythedebtslayer .................................#20 October Starter
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    #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
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    #165 NeedToBeDebtFree ............................#166 moneytree1
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    #173 Jo3y83 .......................................#174 Havecourageandbekind
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    #177 doingitanyway ....................................#178 lcc86
    #179 Positivelypunked ...............................#180 evuka
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    #183 Anna-marie3363 ............................#184 Meezel
    #185 LABMUM ........................................ #186 -Selene
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    #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 132
    • foxyloxy11
    • By foxyloxy11 12th Sep 17, 8:12 PM
    • 221 Posts
    • 1,204 Thanks
    foxyloxy11
    just had to use 450 of my emergency savings to pop a new clutch in our car before it got too poorly....so time to make a new plan to get the savings back up again.
    it feels good to have an emergency fund
    365 day penny challenge - 126.00/667.95
    1000 Emergency fund challenge #225 - 120.00/1000 Stage 1
    • foxyloxy11
    • By foxyloxy11 13th Sep 17, 8:44 PM
    • 221 Posts
    • 1,204 Thanks
    foxyloxy11
    oh and another 222 bites the dust...car cost a bit extra...Doh!!
    365 day penny challenge - 126.00/667.95
    1000 Emergency fund challenge #225 - 120.00/1000 Stage 1
    • thoragunnr
    • By thoragunnr 14th Sep 17, 10:38 PM
    • 52 Posts
    • 47 Thanks
    thoragunnr
    Up to 14.00 now.
    Each week now, I'll have 7.00 added to my emergency funds
    its not a lot but for now, it's affordable for me since I'm currently saving for xmas and a help-to-buy ISA.
    #238 1000 ef; 14.00/1,000 H2B; 120.00 BLS:10.88/15,000
    Retirement: 4.86 New Home FundJar: 5.83p VOSS Jar 0.00
    • datlex
    • By datlex 15th Sep 17, 7:02 PM
    • 1,319 Posts
    • 1,100 Thanks
    datlex
    Well, it is whatever works best. I have a credit card with a 2,500 limit that I have 250 to pay-off, so in theory I have 2.250 emergency fund but as my aim is to clear and close all my cards and loans, I will only use this card to rebuild my credit score.
    Originally posted by patman99
    I'm sorry but a credit card available limit is not an emergency fund.
    • datlex
    • By datlex 15th Sep 17, 7:03 PM
    • 1,319 Posts
    • 1,100 Thanks
    datlex
    just had to use 450 of my emergency savings to pop a new clutch in our car before it got too poorly....so time to make a new plan to get the savings back up again.
    it feels good to have an emergency fund
    Originally posted by foxyloxy11
    oh and another 222 bites the dust...car cost a bit extra...Doh!!
    Originally posted by foxyloxy11
    That's the whole point of the emergency fund to pay for things like that so you don't have to borrow to pay for them.
    • foxyloxy11
    • By foxyloxy11 15th Sep 17, 7:10 PM
    • 221 Posts
    • 1,204 Thanks
    foxyloxy11
    I know Datlex it's good to have it so no stress involved already tidied my emergency fund up to a nice round number by transferring 6...onwards and upwards as they say
    365 day penny challenge - 126.00/667.95
    1000 Emergency fund challenge #225 - 120.00/1000 Stage 1
    • patman99
    • By patman99 19th Sep 17, 10:33 PM
    • 8,032 Posts
    • 9,450 Thanks
    patman99
    Managed to add 40 to my EF last week. Should be able to add more this week, so things are looking up.
    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.
    • Mummy_bear
    • By Mummy_bear 20th Sep 17, 5:20 PM
    • 204 Posts
    • 825 Thanks
    Mummy_bear
    Quick update to say my EF is now up to 515/1000

    Had some success with a claim. Really happy with the progress and hope to be close to 1000 by the end of the year
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 37139.86
    4434.13/37139.86 11.93% paid
    Estimated DFD JUNE 2020 (calculated July 2017)
    Debt Free by Christmas Challenge
    Total cleared 2823.49/9091.72 31% paid
    • Lynz90
    • By Lynz90 20th Sep 17, 8:10 PM
    • 3 Posts
    • 6 Thanks
    Lynz90
    Just added 3 to my emergency fund this morning so my total stands at 6/1000.
    • Calling14
    • By Calling14 22nd Sep 17, 11:37 AM
    • 2,482 Posts
    • 18,462 Thanks
    Calling14
    Need to start rebuilding my EF. Had to use it for car repairs and insurance last month. I know car insurance not an emergency but rather than pay monthly thought I would save money and pay annually.

    EF now stands at 30. Sorry Patman I will try a lot harder x
    LBM 13039 1.1.13 NOW 1460
    PAYDBX 2017 #16 2840/4300 DFD 12/17
    E
    Fund #9 30/1,000
    1 x 100 days challenge 242/2000 ends 29/12/17


    • patman99
    • By patman99 23rd Sep 17, 3:25 PM
    • 8,032 Posts
    • 9,450 Thanks
    patman99
    Calling14, just think how much you will save by paying your insurance in one hit.


    Anyway, added another 80 to my EF and 1.18 to my 3-6 month fund.

    I was going to fit a new basin in my bathroom today, but the new one comes without a fitting kit. So had to find somewhere that sold the appropriate one, so have no longer got enough time left to fit the thing.
    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.
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