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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 7,960Posts
    • 9,390Thanks
    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
    Got 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
    #3 GaLa15 .................................................. .....#4 Trixibell
    #5 Making_The_Best_of_it ............................#6 Dolly Rocker
    #7 Nintud .................................................. ......#8 Speakingofart
    #9 Calling14 .................................................. .#10 Aloofdragon
    #11 Eyebright .................................................. #12 Chrisfreelander54
    #13 DreamerHelen ........................................#14 mobo1980
    #15 sunshinegirl66 .........................................#16 MrsSave
    #17 rosieben .................................................# 18 peony40
    #19 Buffythedebtslayer .................................#20 October Starter
    #21 monz .................................................. .....#22 georgiebrown0
    #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
    #35 StressedSteph ........................................#36 YoungBusinessman
    #37 redlaces .................................................# 38 stiltoncheese
    #39 Magsnoodle ...........................................#40 MessyBetty
    #41 ruby_eskimo ..........................................#42 IrishRose12
    #43 carbootcrazy ..........................................#44 Simply_Saving
    #45 Dobbibill ...............................................#46 grassgirl
    #47 Ms.Dita .................................................# 48 On my way
    #49 CountingPennies ................................#50 Tilly MFW in 6 YRS
    #51 Hoipolloi ...............................................#52 pozza_73
    #53 newroadahead .......................................#54 Pinksteps
    #55 kdalwayskint ........................................#56 So Very Confused
    #57 marleyboy .............................................#58 bmma
    #59 Vkz .................................................. ......#60 Ep007
    #61 sophieo16 ...............................................#62 tinks112
    #63 Stereochild .............................................#64 Laurag89
    #65 Nicki_Sue ...............................................#66 Inthedoghouse
    #67 Depth of field .........................................#68 happybunny86
    #69 R2B .................................................. ......#70 Toomuchdebt
    #71 Mbizi .................................................. ...#72 littleangels3
    #73 dida80 .................................................. .#74 Harleyquinn
    #75 BabyBetty ..............................................#76 Sallybunny
    #77 Meezel ...............................................#78 rising from the ashes
    #79 newpennypincher ................................#80 damondash
    #81 Jonesy88 ..............................................#82 clumsychaos
    #83 MrCrimeFiction ...................................#84 MrsR68
    #85 29Found ..............................................#86 Kelxx
    #87 January2015 ........................................#88 Jacko_amz
    #89 Kayalana99 ..........................................#90 Andyfromotley
    #91 Jon81 .................................................. ..#92 astrid35
    #93 LullaBelle .............................................#94 BuildingBricksOfGold
    #95 Hadalbm ...............................................#96 Meatloaf1981
    #97 Daisychain1 ........................................#98 bestfootforward
    #99 *DramaQueen* ...................................#100 eveie189
    #101 Casper123 ..........................................#102 Lazer-zxr
    #103 DeafLeopard ......................................#104 nicing
    #105 joee .................................................. ..#106 Mrs Toast
    #107 RaspberryJiuce .................................#108 takingcontrolatlast
    #109 parsniphead .......................................#110 NoLifeWithoutYou
    #111 PollyPrissypants ................................#112 amber03
    #113 teeni .................................................. .#114 bogbrsh250
    #115 thegreenone .......................................#116 inamin
    #117 Hope78 ..............................................#118 Bored
    #119 King_Slayer .......................................#120 BettyBoof
    #121 Cat Girl ..............................................#122 Triangle
    #123 nannygladys ......................................#124 myamyamoo
    #125 nows the time ....................................#126 milky1991
    #127 Lina T ................................................#1 28 sugar123
    #129 evo5819 .............................................#130 *snow*white*
    #131 Digging ..............................................#132 belleandthebudget
    #133 Aphidgirl ............................................#134 Grabs39
    #135 Tinkerbelle2000 ................................#136 cybertortoise
    #137 Blue_Bird .........................................#138 Snorkypants
    #139 B17c .................................................# 140 lincs1205
    #141 stormpassing .................................#142 LittleMissDetermined
    #143 The Only Girl .....................................#144 nellis10
    #145 Swash .................................................# 146 Justforme
    #147 crv1963 ...............................................#14 8 mossy
    #149 Ellieseleven ........................................#150 bilbodreams
    #151 Claire1a ..............................................#152 mrs motivated
    #153 fairyclicks ..........................................#154 12 month challenge
    #155 chasingdreams ...................................#156 lexbubbles
    #157 Moonbean ......................#158 MadCoderWhatCodesAtMidnig
    #159 rylee12 ...............................................#16 0 JHiggins91
    #161 Dandytf ..............................................#162 5erge
    #163 nextyeartina ........................................#164 sarahm0rris
    #165 NeedToBeDebtFree ............................#166 moneytree1
    #167 strandedinaber .....................................#168 Heartland
    #169 Cutcostsandsave ..................................#170 Kim_13
    #171 PinkWhisk ..........................................#172 debbie_debt
    #173 Jo3y83 .......................................#174 Havecourageandbekind
    #175 Effyb4 .................................................# 176 Monks
    #177 doingitanyway ....................................#178 lcc86
    #179 Positivelypunked ...............................#180 evuka
    #181 BelleBelles19 ..................................#182 little library lady
    #183 Anna-marie3363 ............................#184 Meezel
    #185 LABMUM ........................................ #186 -Selene
    #187 PositiveBalance ..............................#188 Grandad's Offspring
    #189 Kimplus8 ........................................#190 Hanliam
    #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
    This list is correct as of 19/1/17.
    Last edited by patman99; Yesterday at 7:01 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 124
    • Bird.Heart.Mouse
    • By Bird.Heart.Mouse 10th Apr 17, 11:57 AM
    • 41 Posts
    • 78 Thanks
    Bird.Heart.Mouse
    Hi everyone, #226 checking in with a new total of £150

    Planning to save around £50 p/m at the mo so progress will be slow for now. On a positive note I haven't even thought of my EF since last month so good habits are being formed!

    Bird x
    Total Debt: (LBM Jan 2017) £21,924 (Mar 2017) £18,803
    Emergency Fund #226: £150 / £1000
    Recent Win: 3-for-2 on Boots cream facewash

    We may be in debt, but if nothing else Bird Heart Mouse
    • indigowarrior
    • By indigowarrior 10th Apr 17, 7:41 PM
    • 273 Posts
    • 1,958 Thanks
    indigowarrior
    Please can I sign up for this and checking in with £200/1000
    #545- SPC
    Homeowner by 40
    August Nsd 1/15
    • dreamtruce
    • By dreamtruce 14th Apr 17, 11:10 PM
    • 100 Posts
    • 155 Thanks
    dreamtruce
    I started this challenge again, I was going to wait until we're moved in but I wanted to get a head start.

    Put £35 in the savings.
    Home Deposit: £100.61|BULSFund: £50.00|EmergencyFund: £89.76 | Retirement: 5.21| Xmas 17:£10.00 |July NSD:1 / 15
    • mossy
    • By mossy 15th Apr 17, 1:54 PM
    • 1,124 Posts
    • 8,110 Thanks
    mossy
    Welcome indigo warrior, next time patman is here he'll give you a membership number.

    I have had to wipe out my EF!! DH has been complaining about the tyres on our car for a while and so I just caved in and agreed to replace all four for standard tyres instead of run flats. None of them actually needed replacing because of tread wear, but we had managed to get about twice the amount of miles out of them as you are meant to, so they were going to need replacing sooner rather than later.

    The total cost was £457, which considering when we had to buy one run flat last year and it was £250, I suppose the total for four tyres isn't too bad.

    Anyway, I had £77 set aside in the tyres account so I've had to use the full £380 in my emergency fund to cover the rest of it. Will also have to find £100 to pay for the tracking to be done, as DH has also been complaining about that....but hopefully the car will be much more pleasant to drive once the run flats are off!

    So my target of £500 by August, to give us a buffer for when I have to leave my job and do my last year at uni as a full time student hasn't gone to plan. Oh well, at least we had the money and it hasn't gone on to a credit card.
    Once in a Lifetime Holiday to Disney....the sequel!!
    0% £0/£2442 - left to pay

    Emergency Fund Savings - #148 - £100/£500 20%
    #083 SPC6 £63 - SPC7 £90 - SPC8 £63 - SPC9 £54 - SPC10
    Ta for the stars Sue
    • ploppy57
    • By ploppy57 15th Apr 17, 6:05 PM
    • 374 Posts
    • 2,800 Thanks
    ploppy57
    Would like to join please. Been trying to save an emergency fund for over 2 years since we first started on our DMP journey. But I am seriously needing to save it now. Starting with only £7 but hopefully increasing it weekly.
    Debt £57,549 start of DMP, March 15. Now..£47,200
    DFD 2031! Based on current DMP but will pay more if I can, so date will improve slowly
    Christmas challenge#86 £5.05/250
    Emergency fund..#231 £7/1000 it
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • patman99
    • By patman99 17th Apr 17, 7:43 PM
    • 7,960 Posts
    • 9,390 Thanks
    patman99
    Welcome to our 2 newest members.
    Indigowarrior, you are #230, whilst ploppy57 is #231.

    Not much to report of late as outgoings ave been matching incomings this month due to car insurance and stuff.
    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.
    • foxyloxy11
    • By foxyloxy11 18th Apr 17, 4:04 PM
    • 198 Posts
    • 1,123 Thanks
    foxyloxy11
    Phew!!!! had a lucky escape today. Over the bank holiday we had car problems that could have wound up costing us nearly £!000 (worst case scenario) BUT I am pleased to announce that it only came to £142 and with some juggling around I didn't have to touch my emergency fund, yay!
    Made me realise though that this is one of those moments that make us all work harder for that emergency fund, as when you have it you can panic less.
    Going to try to put in extra next month to get it nudged up a bit.
    365 day penny challenge - £90.00/£667.95
    £1000 Emergency fund challenge #225 - £540.00/£1000 Stage 1
    • carbootcrazy
    • By carbootcrazy 18th Apr 17, 4:24 PM
    • 3,887 Posts
    • 21,736 Thanks
    carbootcrazy
    Phew!!!! had a lucky escape today. Over the bank holiday we had car problems that could have wound up costing us nearly £!000 (worst case scenario) BUT I am pleased to announce that it only came to £142 and with some juggling around I didn't have to touch my emergency fund, yay!
    Originally posted by foxyloxy11
    I'm glad that things worked out so well. Car troubles can be a real drain on our money can't they? I've certainly had more than my share
    Make £10 A Day Challenge 2017. Jan-July: £3687.51 Aug: £242.35
    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
    • mossy
    • By mossy 18th Apr 17, 4:40 PM
    • 1,124 Posts
    • 8,110 Thanks
    mossy
    Foxylady, £142 that's definitely better than £1k. Glad it wasn't the worse case scenario in the end!

    Pay day so putting some money into the EF. I have been paying in £30 each month but I've budgeted £50 for this month and I will try and up it to £50 for the next few months.
    Once in a Lifetime Holiday to Disney....the sequel!!
    0% £0/£2442 - left to pay

    Emergency Fund Savings - #148 - £100/£500 20%
    #083 SPC6 £63 - SPC7 £90 - SPC8 £63 - SPC9 £54 - SPC10
    Ta for the stars Sue
    • bilbodreams
    • By bilbodreams 19th Apr 17, 10:21 PM
    • 101 Posts
    • 175 Thanks
    bilbodreams
    Hello everyone! Member 150. Yesterday I opened the money box that I use for £1 /£2challenge (I couldn't help myself)
    Had a few coins which I added to my emergency fund bringing the total to £607

    Now I must start the £1 challenge again....
    • claremylove
    • By claremylove 20th Apr 17, 9:08 PM
    • 137 Posts
    • 303 Thanks
    claremylove
    Can I join please. I've been reading this challenge for a couple of years now but have never managed to get my behind into gear enough to make a start.

    Today, I have started my EF with an opening balance of £100. Aiming for £1000 by the end of December.
    *Proud to be dealing with my debts*
    £2 saving club 2017 #28 £182 (2014 £176; 2015 £568; 2016 £604)
    Saving for Xmas 2017 #80 151/365
    £1000 emergency fund challenge #232 100/1000
    • patman99
    • By patman99 20th Apr 17, 9:53 PM
    • 7,960 Posts
    • 9,390 Thanks
    patman99
    Welcome claremylove, you are #232.
    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.
    • claremylove
    • By claremylove 21st Apr 17, 7:33 AM
    • 137 Posts
    • 303 Thanks
    claremylove
    Thanks Patman
    *Proud to be dealing with my debts*
    £2 saving club 2017 #28 £182 (2014 £176; 2015 £568; 2016 £604)
    Saving for Xmas 2017 #80 151/365
    £1000 emergency fund challenge #232 100/1000
    • ploppy57
    • By ploppy57 23rd Apr 17, 5:45 PM
    • 374 Posts
    • 2,800 Thanks
    ploppy57
    Welcome to our 2 newest members.
    Indigowarrior, you are #230, whilst ploppy57 is #231.

    Not much to report of late as outgoings ave been matching incomings this month due to car insurance and stuff.
    Originally posted by patman99
    Thanks for adding me....starting with the megre sum of £7 but hoping it will rise quickly.
    Debt £57,549 start of DMP, March 15. Now..£47,200
    DFD 2031! Based on current DMP but will pay more if I can, so date will improve slowly
    Christmas challenge#86 £5.05/250
    Emergency fund..#231 £7/1000 it
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • dreamtruce
    • By dreamtruce 26th Apr 17, 11:07 PM
    • 100 Posts
    • 155 Thanks
    dreamtruce
    Added £20 into my EF making the total £55.
    I will be aiming to put at least £10 away each week if my finances allow it.
    I get paid on the 5th May and we're awaiting on letters to the new house to
    see how much the bills are going to be roughly, so I can't really say for definite if I can actually make this goal but I'd like to try.
    Home Deposit: £100.61|BULSFund: £50.00|EmergencyFund: £89.76 | Retirement: 5.21| Xmas 17:£10.00 |July NSD:1 / 15
    • ~FlowerPot~
    • By ~FlowerPot~ 28th Apr 17, 1:45 PM
    • 9 Posts
    • 4 Thanks
    ~FlowerPot~
    Hello, I would really like to be added to this group
    Not much spare at the moment, but hoping to slowly build it up!
    Starting with £30.00 please
    Thank you
    • Lumanous
    • By Lumanous 30th Apr 17, 11:16 PM
    • 107 Posts
    • 259 Thanks
    Lumanous
    Hello, Just curious do you guys keep other savings separate from your ef? e.g. if you're saving but know the money will likely be used in future, months down line etc. do you keep these 'budgeted' items separately then have your ef literally as your 'unallocated purely for emergencies' fund?

    I'm one of those with many pots but I haven't really labelled them as such, but my spreadsheet (yes finance-geek) knows where the money is spread and then budgeted for the whole year/ongoing, so just curious as to what others do

    No, my username is not a typo
    • Dobbibill
    • By Dobbibill 1st May 17, 8:35 AM
    • 2,199 Posts
    • 3,340 Thanks
    Dobbibill
    Hello, Just curious do you guys keep other savings separate from your ef? e.g. if you're saving but know the money will likely be used in future, months down line etc. do you keep these 'budgeted' items separately then have your ef literally as your 'unallocated purely for emergencies' fund?

    I'm one of those with many pots but I haven't really labelled them as such, but my spreadsheet (yes finance-geek) knows where the money is spread and then budgeted for the whole year/ongoing, so just curious as to what others do
    Originally posted by Lumanous
    I'm the same as you.
    I have different pots for different purposes. (eg - my EF goes into a monthly saver)
    I too have a spreadsheet - I love it!

    Do whatever way works for you
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
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    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.
    • mossy
    • By mossy 1st May 17, 8:53 PM
    • 1,124 Posts
    • 8,110 Thanks
    mossy
    Hello, Just curious do you guys keep other savings separate from your ef? e.g. if you're saving but know the money will likely be used in future, months down line etc. do you keep these 'budgeted' items separately then have your ef literally as your 'unallocated purely for emergencies' fund?

    I'm one of those with many pots but I haven't really labelled them as such, but my spreadsheet (yes finance-geek) knows where the money is spread and then budgeted for the whole year/ongoing, so just curious as to what others do
    Originally posted by Lumanous
    I used to use the savings pots in my Barclays current account (from when the Woolwich/Barclays used to have them), but with interest rates so poor all our savings are now in the Santander 123 account.

    I have a written list that I use to keep track of what the money is for and I update it as it changes. I love a good spreadsheet, but for some reason I prefer writing my budget (and savings) out on paper each month.
    Once in a Lifetime Holiday to Disney....the sequel!!
    0% £0/£2442 - left to pay

    Emergency Fund Savings - #148 - £100/£500 20%
    #083 SPC6 £63 - SPC7 £90 - SPC8 £63 - SPC9 £54 - SPC10
    Ta for the stars Sue
    • foxyloxy11
    • By foxyloxy11 3rd May 17, 5:18 PM
    • 198 Posts
    • 1,123 Thanks
    foxyloxy11
    I keep my emergency savings separate too. when I reach my goal I am going to start a household emergency savings and a DH work emergency savings(self employed). Although I save for DH'S holidays it would be nice to have an account for if ever he is off work longer term due to car/health issues etc.

    Nice to see all the totals rising. I have an extra £60 in mine
    365 day penny challenge - £90.00/£667.95
    £1000 Emergency fund challenge #225 - £540.00/£1000 Stage 1
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