3-6 Month Emergency Fund Challenge!!

[Deleted User] · 30 August 2017 at 10:08AM

So sorry to hear your health is causing you problems, Helen. You are always so cheerful and positive in rallying and motivating the rest of us, I wish we could do the same for you:A

Big hugs coming your way, and to anyone else who needs them at the moment:kisses3:.

x_raphael_xx · 2 September 2017 at 9:33PM

It's been a while, but I've finally tucked another £50 into my savings.
We've finally exchanged on the house, so have a better idea of where our money is going. I'm hoping to throw a bit more at my fund this month.

Total £650/£5050

abundant1972 · 3 September 2017 at 6:15PM

Happy belated September everyone...

It feels like I lifetime since I posted here. I think my whole life has been turned upside down in the meantime. I have had a friend die, one become critically ill - who has thankfully recovered, births, a wedding, and to add to that - my father became unwell and has been hospitalised, and he was main carer for my mum who has dementia.

The long and short of it is I have resigned from my existing job and am moving from my serene and settled life in Somerset to the unknown! I have a new job in Manchester (less hours though) in a place I am totally unfamiliar with... nowhere definite to live as of yet, and my life is in boxes!!! It will be lovely to be near my family again, and to get a social life (it has been redundant living in Somerset) - I just have to get through this period of change.

So, I am still paying into my EF this month - however, I may need to use some of it toward a) relocation costs, and b) storage, and c) a deposit on a new rental place. I guess that's why we have EFs - for when life throws us an unexpected side ball. I'll update any changes I make.

Amount added = £250
3-6 Month EF = £1250/£4500

How is everyone else? Keep up the good work with building your EFs. It is well worth it. Have a fantastic September everyone!!!

peedie · 3 September 2017 at 8:08PM

Hello
Can I join you please.
I've realised yesterday that my endowment mortgage is going to mature in April next year the prediction is that its not going to cover the original amount :mad:
Though I have known this for some time and have been able to save some pennies, the information I have been sent thus far only gives predictions, any where between 3 and 10 thousand...:eek:
Not knowing how much I will be short has left me feeling anxious and today its got me thinking about how to squirrel more into the savings pot/emergency fund
I have been working on tackling my credit card debts and have with the words of wisdom and encouragement from the folks here on these forums have managed to pay off over half of it. But I need to transfer my attention to having to build up and emergency fund to put to the mortgage short fall and put most of my energy into building up a fund just in case.

I transferred the balance of the credit card to a 0% interest one today. I will of course keep paying this off but not at the same rate as I have then when April comes hopefully I if there is any left over I can put it to the credit card and have an emergency fund

I would like to have an emergency fund of £6000

Dobbibill · 3 September 2017 at 9:10PM

Welcome peedie - of course you can join.

When Helen pops in she will give you a number and add you to the first page. Keep us updated with all the ups and downs, the challenges and the successes.

Abundant - sorry to hear of the tough time you've been having.
All the very best for your new adventure in Manchester.

Helen - I hope your health issues get better soon. They do put you through the mill don't they. Wishing you a speedy recovery.

Keep on keeping on everyone.

Dobbi

skye_blue · 5 September 2017 at 6:51PM

hi guys

hope things are improving for your health helen

nothing added to my fund just a rant today

called in my bank a couple of weeks ago to ask about putting some of my savings into a 1 year bond 1.45% which is a lot better than my measly rate im getting now

so got a cheque in my little hands and went to the bank to open it - guess what its now going down to 1.12% from wednesday and they cant fit me in for an appointment until thursday!

so now its sat in my current account whilst i think what to do, and the cheque won't clear for 4-6 working days

ive really got into this savings lark this year with helen and everyones support and ive managed more than ive ever had but it feels such a let down - so what do i do now?

bit cheesed off, premium bonds maybe at least i can get it back if needed and might win a fortune eh

x_raphael_xx · 6 September 2017 at 8:40PM

skye_blue wrote: »

hi guys
hope things are improving for your health helen
nothing added to my fund just a rant today
called in my bank a couple of weeks ago to ask about putting some of my savings into a 1 year bond 1.45% which is a lot better than my measly rate im getting now
so got a cheque in my little hands and went to the bank to open it - guess what its now going down to 1.12% from wednesday and they cant fit me in for an appointment until thursday!

so now its sat in my current account whilst i think what to do, and the cheque won't clear for 4-6 working days

ive really got into this savings lark this year with helen and everyones support and ive managed more than ive ever had but it feels such a let down - so what do i do now?

bit cheesed off, premium bonds maybe at least i can get it back if needed and might win a fortune eh

I only have £100 in premium bonds, not won anything yet. My friend has had PBs since she was a child and has had a few spirodic wins.

At the moment my EF is in a 0.5% ISA, I guess any free money is a bonus

Dobbibill · 6 September 2017 at 10:20PM

a TSB plus current account will give you 3% - you need to meet the criteria by logging in/paperless and rotate money in once month.

Worth it for 5 mins work/once a month IMHO

[Deleted User] · 7 September 2017 at 5:36AM

I never had much luck with Premium Bonds:eek:. At one time I had a holding of £30000 and never won more than £50 in a year.:(. I might have left them in the hope that my luck would improve but sadly debts mounted up and I had to cash them all in just to survive for a few of years:o

Just reporting in with £375 that I've managed to add to my fund since last time. It's my proceeds from selling anything that isn't nailed down, plus cashouts from surveys etc. That gives me a total of £3733/£5000:j

I never dreamed I'd ever get this far, I can't remember a time in recent years when I've had any savings at all never mind this amount. It's all thanks to you lovely people for all the motivation and especially to Helen for starting the whole thing off and sowing the seed that saving was possible:A. Thank you, all:T:beer:

x_raphael_xx · 8 September 2017 at 5:38PM

£150 paid into the EF today. Total now £800/£5050

3-6 Month Emergency Fund Challenge!!

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