3-6 Month Emergency Fund Challenge!!

DreamerHelen · 7 November 2017 at 11:05PM

Hi All....

Another Night Shift but this time (*Touch Wood*) I'm finally feeling better....I feel comfortable and happy and content right now...which is a really nice feeling....a few anxieties but only minor ones that I can live with...

I haven't put anymore Money in my Emergency Fund but that's only because I lost track of time today...I have some money to put in so I'll do that tomorrow and Update tomorrow night...

Here's to the Updates... xXx

skye blue - I've Updated the First Page....You're doing GREAT...keep on going hun....You can do this and we all can!! I always start my Christmas Shopping early as I just don't tend to have the spare few hundred pounds in December to spend....This Year I'm splashing out a little as I've been doing this Night Work and who better to spend it on than the people that I love....But I am also paying some other things with it as well...But yes, Christmas should be a good one this Year...I know what you mean though, I have felt guilty in the past if I couldn't afford a decent present or if I got more for one person than another...You just have to do what you feel is right hun xXx

166million · 8 November 2017 at 3:13AM

Hello hello
I don't seem to come on here very much any more but I think I would like to have a go at this.
I'm unable to sleep as I have a rotten cold which is why I'm lurking at 2 in the morning!
I'd like to build up 6 months emergency fund which will be the amount we put in our 'bills account" every month £1500 so...£9000 :eek:
Do you guys use your emergency funds if anything comes up in the meantime. I guess you would have to- that's what it's for right?
Anyway will try to read some of the thread now and come back regularly to update if I remember.

Oh , I have 39pence so far ! Yay

Edit- better make it a round 10k including the extra £1000
Thanks Dobbibill!

If I include my piggy bank money I've got 42.88 in total. So 9957.12 to go!

Dobbibill · 8 November 2017 at 8:56AM

Hello 166million and welcome aboard the challenge.

Here we take our time and add to the fund when we can, some on pay day, some ad-hoc or both. A little here, a bigger bit there and it takes as long as it takes.
There's no rush but we all cheer each other along the way.

A few of us are also involved in the £1000 Emergency Fund challenge. This is generally good for unplanned surprises like white goods etc.

Helen will give you a number and add your target and progress to the first page when she pops in.

You're off the mark already, well done.

Pop in - share your success and your challenges.

Keep on keeping on.

Dobbi

Savvy_sewing · 8 November 2017 at 6:26PM

Feeling disheartened as had to transfer my emergency and holiday funds to the current account to be Able to cover the rent. I just cannot get the budget right at the moment!

166million · 8 November 2017 at 8:01PM

Mooloo wrote: »

Feeling disheartened as had to transfer my emergency and holiday funds to the current account to be Able to cover the rent. I just cannot get the budget right at the moment!

Hi mooloo I've just started so you can start again with me! At least you had it when you needed it :money: that's why we are doing it after all

DreamerHelen · 8 November 2017 at 11:05PM

Hey All

A bit of a down day today....just lots of anxieties but I'll get there....I guess that's life, ups and downs....I'll get through today and hopefully tomorrow will be better

On the plus side I've added £25 to my 3-6 Month Emergency Fund so I'm really pleased with that....It feels oddly satisfying to put that money into my Pot knowing that it's there if I absolutely need it...

Here's to the Updates... xXx

166million - WELCOME WELCOME WELCOME!! Lovely to have you here...I've added you to the First Page....So you're officially part of the Family...Do let us know how you get on. I have a few different Emergency Funds....This one, for me, is if the absolute worst happens and I need a couple of months or longer off Work then I know I can use it for that....I have another £1000 Emergency Fund that I'm currently building up and that's for general emergencies and I can dip in and out of that if I need to for emergencies...I hope that helps...We all do things our own way... xXx

Dobbibill - Thank you for the lovely Welcome to our newest Member...I hope you're doing well hun xXx

Mooloo - Please don't worry, that IS what it's there for as 166million said and thank goodness you had it there if it was needed for Rent....I have started again a few times and you won't hear any judgements here....Just start again when you are able to.... xXx

datlex · 9 November 2017 at 12:20AM

166million wrote: »

Hello hello

Do you guys use your emergency funds if anything comes up in the meantime. I guess you would have to- that's what it's for right?
Anyway will try to read some of the thread now and come back regularly to update if I remember.
Oh , I have 39pence so far ! Yay

Edit- better make it a round 10k including the extra £1000
Thanks Dobbibill!

If I include my piggy bank money I've got 42.88 in total. So 9957.12 to go!

Regarding emergency fund that's what it is for emergencies. Christmas for example is not an emergency. Washing machine breaking could be considered an emergency- for myself for example I could use some one else's for a couple of weeks. A broken down car may be an emergency- however you might want to look at public transport for a month to save up.

For me the emergency fund is for eek I better get that fixed items. This challenge is for ahhh my circumstances have changed how but I have a cushion whilst I adjust.

Don't worry how much you have, every penny counts towards a pound. They will soon build up.

DreamerHelen · 9 November 2017 at 12:24AM

datlex - That's the perfect explanation for the different Emergency Funds that I have....one is for a real-time Emergency and this one is for if my circumstances drastically change in short space of time and I need a good cushion while I adjust....Thank you... xXx

166million · 9 November 2017 at 5:42AM

Thanks guys that’s brilliant
Thanks for the welcome and I’m sorry you're having a bad time Helen. I too struggle with anxiety - I am going through a redundancy at work so this fund is a bit late in getting started really! It seems like you have a sensible and positive attitude about these things and I hope you don’t let it get you down.
Thanks datlex. I already save towards Christmas and a few other things and I always know I can take money from those pots if I really need to. I think it’s time the emergency/ cushion pot had its own pot so to speak :money:
I’m up early again having a lemsip:(
Hope to speak to you again soon

Have added 12p to round things up to £43

datlex · 9 November 2017 at 9:11PM

Mooloo wrote: »

Feeling disheartened as had to transfer my emergency and holiday funds to the current account to be Able to cover the rent. I just cannot get the budget right at the moment!

Don't feel disheartened. Just look at why the money wasn't there. Have you looked at the rules on the YNAB website? I think they might help you. Also do you split bills and spend moneys?

3-6 Month Emergency Fund Challenge!!

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free