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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 7,976Posts
    • 9,402Thanks
    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
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    #29 Bobarella ................................................#3 0 Muser1
    #31 twiggy86 ................................................#3 2 laurababs
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    #173 Jo3y83 .......................................#174 Havecourageandbekind
    #175 Effyb4 .................................................# 176 Monks
    #177 doingitanyway ....................................#178 lcc86
    #179 Positivelypunked ...............................#180 evuka
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    #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
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    #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

    This list is correct as of 19/1/17.
    Last edited by patman99; 22-08-2017 at 8:54 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 130
    • gwynfil
    • By gwynfil 13th Aug 17, 11:57 AM
    • 14 Posts
    • 29 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
    • 70 Posts
    • 134 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: July 2017: 18,475 8.2%
    DFD: February 2024
    SPC#577
    EF#237 9%
    • Moneybutterfly
    • By Moneybutterfly 14th Aug 17, 11:00 AM
    • 14 Posts
    • 37 Thanks
    Moneybutterfly
    Could I join in please? I've 270/1000 emergency savings.
    • BachFlower
    • By BachFlower 15th Aug 17, 1:10 PM
    • 13 Posts
    • 15 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
    • 7,976 Posts
    • 9,402 Thanks
    patman99
    Welcome to Moneybutterfly who is member #244.
    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.
    • carbootcrazy
    • By carbootcrazy 16th Aug 17, 9:00 PM
    • 3,922 Posts
    • 21,986 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-July: 3687.51 Aug: 283.35
    3-6 Months Emergency Fund Challenge #12: 3358.00/5000. This is so hard but I will do it.

    Original Debt: 56804 (@ LBM 02/13). Balance now: 21808
    . Getting there
    • quintwins
    • By quintwins 18th Aug 17, 11:34 AM
    • 5,026 Posts
    • 29,201 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 1313/28996 4.5%
    Aug GC 135.42/170
    EF#240 30
    Aug NSD 15/20
    • catralense
    • By catralense 19th Aug 17, 10:54 PM
    • 85 Posts
    • 370 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 0/100
    September Grocery Challenge 0/500


    Emergency Fund 75.99/1000
    • mizmir
    • By mizmir 20th Aug 17, 8:42 AM
    • 3,697 Posts
    • 7,697 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
    • 37 Posts
    • 97 Thanks
    Narola1976
    Hi. Please can I join? I have 694 so far.
    HSBC CC : 7150.15 7116.26 Barclays CC : 7894.74 MBNA CC : 10382.67 10272.67
    MBNA CC :7214.28 7134.28 Argos : 202.05 Loan : 399.27
    Hitachi Loan : 24.12 0 Car Finance : 14499.24

    Total : 47,766.52 47,518.51
    • carbootcrazy
    • By carbootcrazy 20th Aug 17, 8:55 AM
    • 3,922 Posts
    • 21,986 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-July: 3687.51 Aug: 283.35
    3-6 Months Emergency Fund Challenge #12: 3358.00/5000. This is so hard but I will do it.

    Original Debt: 56804 (@ LBM 02/13). Balance now: 21808
    . Getting there
    • amber03
    • By amber03 22nd Aug 17, 11:11 AM
    • 776 Posts
    • 4,514 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 26.86


    WOMBLER 2017 NO. 5 7.20
    • patman99
    • By patman99 22nd Aug 17, 8:59 PM
    • 7,976 Posts
    • 9,402 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 - 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.
    • quintwins
    • By quintwins 23rd Aug 17, 12:09 PM
    • 5,026 Posts
    • 29,201 Thanks
    quintwins
    Another 20 to mine bring me up to 50
    DFW 1313/28996 4.5%
    Aug GC 135.42/170
    EF#240 30
    Aug NSD 15/20
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