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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 8,118Posts
    • 9,541Thanks
    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-
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    #183 Anna-marie3363 ............................#184 Meezel
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    #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
    #249. Cozicup ...........................................#250 SamSam17
    #251 ej22 ................................................#2 52 Nicnak
    #253. Florence J .......,............................#254 Arrietty
    #255 IrisViolet ........................................#256 lcc86
    #257 Adventureofmemories ..................#258 Missymae0
    #259 Moneyx3 ...........................................#260 itslulu
    This list is correct as of 19/1/17.
    Last edited by patman99; 10-12-2017 at 9:24 PM. Reason: List got 'lost'.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £759.94/ £1000 (that's 75.49%)

    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 130
    • gwynfil
    • By gwynfil 13th Aug 17, 11:57 AM
    • 30 Posts
    • 43 Thanks
    gwynfil
    Trying to get savings to £1000 by Christmas 2017
    I admit I have a head start, as my savings are £540. But my aim is to get this emergency fund up to £1000 by Christmas 2017.

    So I need £460 pounds more. This will not be easy, but I am giving up alcohol, so this should free up about £15 to £20 a week. (and goodness knows what I used to spend on cashews and crisps)!!

    There are about 17 weeks left until Christmas 2017.

    I'm doing £460 divided by 17 which is about £28 a week. I'm going to try at least £20, maybe £25, and when I can £30.

    Hopefully I will see a balance of £1000 by Christmas day, provided the tv, computer, cooker, washing machine and fridge don't all fail at once!

    All the best with your savings everyone.
    • DancingUnicorn
    • By DancingUnicorn 13th Aug 17, 10:33 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    :
    I'm doing £460 divided by 17 which is about £28 a week. I'm going to try at least £20, maybe £25, and when I can £30.
    Originally posted by gwynfil
    When you say it like that it sounds almost easy and makes me wonder why I haven't managed to get my savings any further.
    Mum just gave me a load of old DVD's and CD's she doesn't want anymore so between sites I've managed to get a quote of almost £60 for the lot so that'll be going straight into the EF when it comes through.
    Still waiting on £76 cashback to finally clear which will also go straight to the EF too. Looking at getting it up to over £200 in the next few weeks which is exciting. After payday I'm going to attempt £5 a week to crank it up before Christmas!
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • Moneybutterfly
    • By Moneybutterfly 14th Aug 17, 11:00 AM
    • 14 Posts
    • 43 Thanks
    Moneybutterfly
    Could I join in please? I've 270/1000 emergency savings.
    • BachFlower
    • By BachFlower 15th Aug 17, 1:10 PM
    • 13 Posts
    • 16 Thanks
    BachFlower
    Thanks for the add Having reached the 'sick & tired of being sick & tired' moment, I am soooo ready to do this. I have a place for the EF, an accessible online savings account separate enough to not tempt me to dip into, BUT nothing to put in yet... August has been super expensive, and am already in the red, so it is a damage limitation measures for the rest of the month. I've joined a no-spend challenge facebook group and will make the most of what is in the cupboards, etc. My best bet for getting this fund together quickly is selling things... I have an ebay shop subscription and haven't been making use of the 250 free fixed price listings included per month, and have plenty of items that could make £10 or more, so filling it up is a priority! Onwards & upwards from now on in!
    • patman99
    • By patman99 16th Aug 17, 8:55 PM
    • 8,118 Posts
    • 9,541 Thanks
    patman99
    Welcome to Moneybutterfly who is member #244.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £759.94/ £1000 (that's 75.49%)

    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.
    • carbootcrazy
    • By carbootcrazy 16th Aug 17, 9:00 PM
    • 4,157 Posts
    • 23,317 Thanks
    carbootcrazy
    I'm really pleased for you that this thread is such a success, patman. New people are joining all the time


    I had to go to the dentist's today and was expecting to need more doing than actually happened. Cost £56 which is plenty but I can cover that without raiding my EF which I'd do anything to keep intact at £1000
    Make £10 A Day Challenge 2017. Jan-Oct: £4500 ish
    Signing off for 2017, already smashed my year's target
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £12411
    . Getting there.
    • quintwins
    • By quintwins 18th Aug 17, 11:34 AM
    • 5,031 Posts
    • 29,281 Thanks
    quintwins
    I added another £10 to mine, still not much but I'm not really missing the £10 a week and I now have £30 with very little effort.
    DFW £1263/£28996 4.3%

    EF#240 £0
    • catralense
    • By catralense 19th Aug 17, 10:54 PM
    • 89 Posts
    • 405 Thanks
    catralense
    Please can you add me to the list?

    I currently have exactly £75.99 in my emergency fund but I want to have a thousand saved by the end of September. I'm planning to try and sell some stuff, cut right back on our grocery bill and work as many extra shifts as I possibly can to meet my goal. Fingers crossed!
    August Grocery Challenge £98.02/£100
    September Grocery Challenge £103.98/£500


    Emergency Fund £81.59/£1000
    • mizmir
    • By mizmir 20th Aug 17, 8:42 AM
    • 3,693 Posts
    • 7,712 Thanks
    mizmir
    Still to add to my emergency fund but I should have money coming in on Monday that is earmarked for it. Plan is to have £100 in there untouched by the end of the month!
    Aug 2017: £6200 £6000 0% BC
    Aim to clear and get back my Debt Free status by May 2018
    • Narola1976
    • By Narola1976 20th Aug 17, 8:45 AM
    • 93 Posts
    • 297 Thanks
    Narola1976
    Hi. Please can I join? I have £694 so far.
    HSBC CC £7150.15 - £6524.68 ~~~ Barclay Card £7894.74 £7846.32 ~~~ MBNA 1 £10382.67 - £10272.67 ~~~ MBNA 2 £7214.28 - £7062.94 ~~~Argos £202.05 - £100.05 ~~~ HSBC Loan £399.27 - £0 ~~~ Hitachi Loan £24.12 - £0 ~~~ Car Loan £14745.60 - £14008.32
    TOTAL £48012.88 - £45814.98 (Paid £2197.90 so far)
    • carbootcrazy
    • By carbootcrazy 20th Aug 17, 8:55 AM
    • 4,157 Posts
    • 23,317 Thanks
    carbootcrazy
    a warm welcome to all the new members. patman will assign a number to you when he's next on the thread. Let us know how you are getting on with your savings and don't worry if life presents you with an emergency where you need to dip into your EF. After all, that's what it's there for. Good Luck


    Congratulations as always to everyone who has managed to add to their savings
    Make £10 A Day Challenge 2017. Jan-Oct: £4500 ish
    Signing off for 2017, already smashed my year's target
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £12411
    . Getting there.
    • amber03
    • By amber03 22nd Aug 17, 11:11 AM
    • 798 Posts
    • 4,711 Thanks
    amber03
    No.112 £26.86, have used some of my EF for a holiday I had booked for later on in the year for all the family(my treat). So starting again hopefully soon build up. My aim is to have at least £500 by xmas. Love a challenge.xx
    Debtfree and and staying that way.
    £1000 Emergency fund No.112 £310
    • patman99
    • By patman99 22nd Aug 17, 8:59 PM
    • 8,118 Posts
    • 9,541 Thanks
    patman99
    Welcome to catralense who is member #245 and Narola1976 who is #246.

    Been a busy week this week. Am on holiday, so ordered an 8 yard skip for my mum and spent the last 2days filling it with all the rubbish from the garage, garden, house, summer house and green house.

    Only expense this week so far has been 1 reciprocating saw with which to reduce the furniture in the summer house to a size that it would fit flat in the skip.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £759.94/ £1000 (that's 75.49%)

    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.
    • quintwins
    • By quintwins 23rd Aug 17, 12:09 PM
    • 5,031 Posts
    • 29,281 Thanks
    quintwins
    Another £20 to mine bring me up to £50
    DFW £1263/£28996 4.3%

    EF#240 £0
    • patman99
    • By patman99 24th Aug 17, 6:13 PM
    • 8,118 Posts
    • 9,541 Thanks
    patman99
    Anyone care to guess which week we will reach the magic 250 members?.

    We are doing really well as a group. Supporting each other as we build our EFs and comisarating when things go wrong.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £759.94/ £1000 (that's 75.49%)

    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.
    • Dobbibill
    • By Dobbibill 24th Aug 17, 8:44 PM
    • 2,541 Posts
    • 3,631 Thanks
    Dobbibill
    Anyone care to guess which week we will reach the magic 250 members?.
    Originally posted by patman99
    I reckon we will reach the magic 250 before 1st September.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
    • farmeress
    • By farmeress 28th Aug 17, 5:28 PM
    • 20 Posts
    • 30 Thanks
    farmeress
    Please can you add me to this challenge... my first challenge

    I am on the road to never again relying on credit to get by... it will be a long journey for me, but I am determined to achieve this goal after having to pay for car repairs this month.

    Starting with £10 and will add whenever I can.
    • patman99
    • By patman99 29th Aug 17, 10:17 PM
    • 8,118 Posts
    • 9,541 Thanks
    patman99
    Welcome farmeress. You are #247.

    Managed to add a few quid to the EF last week, so now above £330.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £759.94/ £1000 (that's 75.49%)

    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.
    • carbootcrazy
    • By carbootcrazy 30th Aug 17, 10:17 AM
    • 4,157 Posts
    • 23,317 Thanks
    carbootcrazy
    Welcome to all the recent joiners of the challenge. Good Luck


    I don't post on here all that often although I read the thread regularly. I've so far managed to maintain my EF at £1000 and don't plan to add to it (unless it needs replenishing) as my other EF pot is part of another challenge.


    Thankfully there have been no unexpected and expensive nasties recently but the cat (who can normally eat for England) has been off his food for a couple of days and has been sick a few times. I assume he's been catching and eating prey. We live in a very rural area and there are lots of unsuspecting creatures about at this time of year. If he doesn't perk up by tonight it looks like a visit to the Vet and goodness knows how much that will end up costing. Let's hope I can afford it without dipping into my £1000 EF which I am guarding with my life now I've managed to build it up.
    Make £10 A Day Challenge 2017. Jan-Oct: £4500 ish
    Signing off for 2017, already smashed my year's target
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £12411
    . Getting there.
    • mossy
    • By mossy 31st Aug 17, 11:25 PM
    • 1,127 Posts
    • 8,132 Thanks
    mossy
    Nothing new added to the EF for me at the moment, hoping to start putting a tiny bit in each month if I can. Anything is better than nothing....well done to all the people who have hit £1k!!
    Emergency Fund Savings - #148 - £100/£500 20%
    #083 SPC6 £63 - SPC7 £90 - SPC8 £63 - SPC9 £54 - SPC10 £26 - SP11
    Ta for the stars Sue
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