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  • FIRST POST
    • DreamerHelen
    • By DreamerHelen 20th Oct 15, 8:30 AM
    • 2,433Posts
    • 13,030Thanks
    DreamerHelen
    3-6 Month Emergency Fund Challenge!!
    • #1
    • 20th Oct 15, 8:30 AM
    3-6 Month Emergency Fund Challenge!! 20th Oct 15 at 8:30 AM
    Morning Everyone....


    I have been wondering for MONTHS now about what would happen if there was some kind of Emergency....I am self-employed and also starting a new Business which will also be on a self-employed basis....so I will never get holiday pay or sick pay....although I AM hoping to maybe get an employed Job but that would only be for a couple of days a Week so it won't cover me completely if something were to happen....


    My health is not wonderful at the moment, and hasn't been for a while, but I'm going to start trying to lose Weight once I've moved Flats (which I'm doing this Weekend!!).


    So the point of this Challenge is to save up at least 3 month's worth of wages....that can be a different amount for each person....and some people might want to save up to 6 months if they are feeling ambitious!!


    Me personally, I want to save 3 months worth of wages which for me will be £6000.


    Now, there is ABSOLUTELY NO TIME LIMIT on this Challenge...in fact I suspect it could take me Years to get to the point of having 3 months wages as Savings....For now I can only afford £5 per week but as my new Business builds up (hopefully!!) then I should be able to afford more.


    This Thread is mainly for us all to encourage each other to keep on Saving and to celebrate when we reach milestones, however large or small they may be.....Like for me, when I get to having £500 I will be ecstatic!!


    I also wanted to say that if at any time an emergency crops up and you need to use your Fund and then start again then please don't worry about doing that.....It's what the Emergency Fund is there for after all....


    I don't like having Savings in the Bank as I get too tempted to spend them so I'm going to invest in a Terramundi to put my Savings into at least at first......but other's may choose to use their Bank Accounts or a Tin from Poundworld...or stuff it under your Mattress!!


    Sooooo.....Here we go.....I'll add the names below as people Join....xXx




    CHALLENGERS
    1) DreamerHelen - INITIAL GOAL: £500 (1 Week) CURRENTLY: £0/£500
    2) Dobbibill - GOAL: £8700 CURRENTLY: £7703.78/£8700
    3) Patman99 CURRENTLY: £194.19
    4) LittleMissDetermined - GOAL: £7129 CURRENTLY: £1450/£7129
    5) Sophieo16 - GOAL: £3000 CURRENTLY: £3000/£3000 - COMPLETE!!
    5) Sophieo16 - NEW GOAL: £4000 CURRENTLY: £564.28/£4000
    6) Crv1963 - INITIAL GOAL: £7800 CURRENTLY: £10/£7800
    7) Mothernerd - INITIAL GOAL: £1000 CURRENTLY: £1000/£1000 COMPLETE!!
    8) Stewby - GOAL: £2000 CURRENTLY: £230.76/£2000
    9) stoplurking - GOAL: £4000 CURRENTLY: £1450/£4000
    10) crazy_cat_lady - GOAL: £6338 CURRENTLY: £17.66/£6338
    11) stormpassing - GOAL: £5400 CURRENTLY: £30/£5400
    12) carbootcrazy - GOAL: £3000 CURRENTLY: £620/£3000
    13) Munchin - GOAL: £6000 CURRENTLY: £1500/£6000
    14) traveller - INITIAL GOAL: £1000
    15) Freysmum - GOAL: £8500 CURRENTLY: £7652/£8500
    16) The Only Girl - GOAL: £12,000 CURRENTLY: £5543.27/£12,000
    17) Southern-girl - GOAL: £5000 CURRENTLY: £437/£5000
    18) dubsteppenguin - GOAL: £5000 CURRENTLY: £250/£5000
    19) DuranGirl - GOAL: £6000 CURRENTLY: £5000/£6000
    20) WantToBeSE - GOAL: £5000 CURRENTLY: £1000/£5000
    21) black cat - GOAL: £6000 CURRENTLY: £2600/£6000
    22) lexbubbles - GOAL: £4600 CURRENTLY: £2158.63/£4600
    23) ani*fan - GOAL: £3000 CURRENTLY: £40.29/£3000
    24) Keeping Motivated - GOAL: £6000 CURRENTLY: £6000/£6000 - COMPLETE!!
    24) Keeping Motivated - NEW GOAL: £6000 CURRENTLY: £275/£6000
    25) rylee12 - GOAL: £6000
    26) Rosylee - GOAL: £8850 CURRENTLY: £60/£8850
    27) BlackFrosting - GOAL: £2700 CURRENTLY: £69.37/£2700
    28) Westbeef - GOAL: £5000
    29) skye blue - GOAL: £1000 CURRENTLY: £0/£1000
    30) MrsSave - GOAL: £5000 CURRENTLY: £1241.36/£5000
    31) crimson.addict - GOAL: £10,000 CURRENTLY: £350/£10,000
    32) linc1205 - GOAL: £20,000 CURRENTLY: £20/£20,000
    33) Brass_Triumphant - GOAL: £5000 CURRENTLY: £450/£5000
    34) Christa27 - GOAL: £3000
    35) Wishfullthinking2 - GOAL: £4500
    36) x_raphael_xx - GOAL: £10,000 CURRENTLY: £8058.40/£10,000
    37) moneymakestheworldgoround - GOAL: £3000
    38) georgiebrown0 - GOAL: £6000
    39) Sharon87 - GOAL: £1500 CURRENTLY: £330/£1500
    40) BabyBetty - GOAL: £5000 CURRENTLY: £276/£5000
    41) -Selene - GOAL: £5000 CURRENTLY: £691.69/£5000
    42) Thistlewhistle - GOAL: £5000 CURRENTLY: £2500/£5000
    43) abundant1972 - INITIAL GOAL: £1500 CURRENTLY: £2050/£4500
    44) castlelough - GOAL: €3000 CURRENTLY: €86/€3000
    45) MLAB - INITIAL GOAL: £450
    46) milasavesmoney - GOAL: $15000 CURRENTLY: $11,273/$15000
    47) WatWing - GOAL: £3900 CURRENTLY: £250/£3900
    48) happytails - GOAL: £8400
    49) Grandad's Offspring - GOAL: £5000 CURRENTLY: £80/£5000
    50) Smodlet - GOAL: £3000 CURRENTLY: £325/£3000
    51) JCUK - GOAL: £6000 CURRENTLY: £1250/£6000
    52) Mooloo - GOAL: £4000 CURRENTLY £1000/£4000
    53) aphill24 - GOAL: £5000 CURRENTLY: £1100/£5000
    54) evo5819 - GOAL: £3000
    55) mum-to-many - GOAL: £3000 CURRENTLY: £306/£3000
    56) oh2bdebtfree - GOAL: £6000
    57) Keedie
    58) AnxiousHomemaker - INITIAL GOAL: £500 CURRENTLY: £15/£500
    59) PoorGuyNextDoor - GOAL: £5300
    60) angelicious - GOAL: £7200 CURRENTLY: £270/£7200
    61) misselvis - GOAL: £6000
    62) benten69 - GOAL: £10,750 CURRENTLY: £230/£10,750
    63) TopsyMum - GOAL: £1000
    64) Poor_Single_lady - GOAL: £5000 CURRENTLY: £80/£5000
    65) swimminginaseaofdebt - GOAL: £9000 CURRENTLY: £15.71/£9000
    66) Dragon Lily - GOAL: £3000 CURRENTLY: £815/£3000

    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by DreamerHelen; Today at 4:54 AM.
    TRUE LBM IN DECEMBER 2015 20p Savers Club #82 £1/£150 £6000 EF #1 £0/£500 (Initial Goal) General £1000 EF #13 £0/£1000 SPC #089 SPC9 2016 £42.15!! - Stars From SueUU x23
Page 59
    • Mooloo
    • By Mooloo 3rd Oct 16, 10:12 PM
    • 8,537 Posts
    • 42,219 Thanks
    Mooloo
    My Mum gave me £20 towards DGDs birthday, so it's gone into the emergency pot. Along with some small cash sewing jobs, I have managed to replace the funds I'd withdrawn, and total is now exactly

    £1000

    As of today.
    Making thermal cooking bags, too help others save fuel costs, and produce fabulous meals for pennies! I love my sewing, and it has helped me to make new friends and feel useful!
    • Dobbibill
    • By Dobbibill 4th Oct 16, 7:33 AM
    • 1,728 Posts
    • 2,862 Thanks
    Dobbibill
    #2 update

    small addition of £32.92 into the pot. This takes my new total to £7257.80 aka 83.42%......slow and steady

    Keep on keeping on everyone.

    Dobbi
    If you always do what you've always done,
    you will always get what you've always got!

    £1000 EF #45 = 130%
    3-6 mnth EF #2 = 88.55%
    Christmas savings 2016 = 100.66% & 2017 = 7.6%
    • Keeping Motivated
    • By Keeping Motivated 4th Oct 16, 5:36 PM
    • 3,518 Posts
    • 11,618 Thanks
    Keeping Motivated
    Hi me again. I just received £15 cashback from Quidc* so Ive sent it straight to my ISA.

    New Total = £5755
    3-6 Mth EF #24 - £6000/£6000 Next Target £275/£6000
    • x_raphael_xx
    • By x_raphael_xx 4th Oct 16, 7:21 PM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    I received my banks £5 monthly reward today. I always forget about this, so have shoved it straight into my ISA. I also forgot to add my ISA interest into my total, it got paid in on Friday. I got £55 which I'm pleased with (not a lot but I was expecting around £35-£40.
    Total now stands at £7778.50
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • LittleMissDetermined
    • By LittleMissDetermined 5th Oct 16, 6:11 AM
    • 1,432 Posts
    • 5,622 Thanks
    LittleMissDetermined
    Few pence added to the fund this morning, takes the total to £1,171.62

    Hope you're ok Helen and that your grandad has made a speedy recovery x

    LMD xx
    Target Debt Free Day 27th Jan 2018
    Life gets in the way...PADding is addictive... Saving's better than spending...

    £1000 EF Challenge #142 £1003.67/£1000 ... 3-6Mth Wages Challenge #4 £1650 /£7129...
    24 23 22 21 20 19 18 17 months of Debt-busting to go...
    • skye blue
    • By skye blue 5th Oct 16, 9:29 PM
    • 42 Posts
    • 259 Thanks
    skye blue
    Hi everyone

    Just a quick note to say ive drawn my savings out to have a new bathroom fitted so its zero again but the good news is everything has been paid with savings i had, no borrowing at all so i'm proud of myself for that.

    So although ive jumped ship for now keep my number cos 'i'll be back'
    • x_raphael_xx
    • By x_raphael_xx 7th Oct 16, 9:04 AM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    £15.35 of extra wages aid into ISA this morning
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • DreamerHelen
    • By DreamerHelen 8th Oct 16, 2:38 AM
    • 2,433 Posts
    • 13,030 Thanks
    DreamerHelen
    Morning Everyone....

    Apologies (again) for not Posting lately....My Grandmother also got taken into Hospital briefly....and she's not really well at the moment either....But at least she's back home now which is a good thing of course....

    So things are a bit stressy here....but I'll get there...we all will...

    Nothing to add to my Emergency Fund lately....It's all I can do to keep up with what needs paying....I don't have many spare funds at the moment...but hopefully things will start to get better...

    I've Updated everyone...I think...If I have missed anyone or got your Totals wrong please accept my apologies and let me know... xXx

    Dobbibill - You are always so lovely to keep up with this Thread and you're our resident Cheerleader...so thank you. I've Updated your Total...You're doing AMAZING!! xXx

    x_raphael_xx - I've got a bit confused with your Totals so I took it from your Signature...Hope I've got it right...If not then apologies....But you're doing BRILLIANTLY...so keep it going xXx

    Freysmum - Don't worry if the progress is slow....you WILL get there....I've Updated your Total and you're doing OUTSTANDING!! xXx

    Mooloo - I'm so sorry to hear that things are difficult with the Children...don't worry, you'll get there....I've Updated the First Page...You're doing AWESOME!! xXx

    LittleMissDetermined - I've Updated the First Page...Keep going as you're doing BRILLIANTLY!! xXx

    stoplurking - I've Updated the First Page....Look how brilliantly you're doing....You're doing AMAZING..Keep going!! xXx

    sophieo16 - I've Updated the First Page...You are doing AWESOME!! Look how close you are!! Good luck with the no drinking rule this Month...I know you will do it... xXx

    carbootcrazy - I've Updated the First Page....You're doing BRILLIANTLY!! Don't worry regarding your progress....I know you will get there.... xXx

    Keeping Motivated - I've Updated the First Page.....You're doing AWESOME!! Keep moving forwards xXx

    skye blue - Don't worry about going back to zero, it's worth it for the new Bathroom....You can start again and I know you'll get there... xXx

    Keep chasing those dreams and those Rainbow Everyone... xXx
    TRUE LBM IN DECEMBER 2015 20p Savers Club #82 £1/£150 £6000 EF #1 £0/£500 (Initial Goal) General £1000 EF #13 £0/£1000 SPC #089 SPC9 2016 £42.15!! - Stars From SueUU x23
    • x_raphael_xx
    • By x_raphael_xx 8th Oct 16, 4:31 PM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    x_raphael_xx - I've got a bit confused with your Totals so I took it from your Signature...Hope I've got it right...If not then apologies....But you're doing BRILLIANTLY...so keep it going xXx
    Originally posted by DreamerHelen
    I was confusing myself, so I simplified it yes it's correct now, thank you
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • -Selene
    • By -Selene 12th Oct 16, 1:00 AM
    • 158 Posts
    • 933 Thanks
    -Selene
    Just popping in to update my EF balance to £691.69

    Hope everyone is doing well, Helen I hope your grandma's health improves :hug:
    SPC - #483 [banked £134.15] - gold stars from Sue-UU!
    VSP - #33 [29.8%] | 3-6 Month EF - #41 [12.6%] | £1,000 EF - #186 [4%] | Save £6k in 2016 - #180 [24.6%]
    • DreamerHelen
    • By DreamerHelen 18th Oct 16, 4:07 AM
    • 2,433 Posts
    • 13,030 Thanks
    DreamerHelen
    Morning Everyone...

    How are we all getting on with this Challenge? I need to really get a move on with it.....I need to stay Motivated, even with everything that is happening in my Life...I will try to make a more concentrated effort over the next few months...

    x_raphael_xx - I'm glad that I got it correct...hope you are well and staying motivated..you CAN do this!! xXx

    -Selene - I've Updated the First Page...You are doing AWESOME!! Keep going....And thank you for your lovely comment, Grandma not doing great at the moment, she had a funny turn yesterday and I spent the day with her making sure she was okay...Hopefully, after a good night's sleep, she will be better today... xXx
    TRUE LBM IN DECEMBER 2015 20p Savers Club #82 £1/£150 £6000 EF #1 £0/£500 (Initial Goal) General £1000 EF #13 £0/£1000 SPC #089 SPC9 2016 £42.15!! - Stars From SueUU x23
    • carbootcrazy
    • By carbootcrazy 18th Oct 16, 7:22 AM
    • 3,060 Posts
    • 17,688 Thanks
    carbootcrazy
    I'm so sorry to hear that your Grandma isn't doing too well at the moment. It must be a really worrying time for you and I'm thinking of you. My Grandma meant the world to me, she was the most important person in my life and mainly enjoyed good health. The worst time was when she had a series of illnesses when she was in her 80s and I was working about 100 miles away. I didn't have a car in those days and dropping everything and getting to her at all sorts of hours was a challenge. Nothing could keep me away from her though. I must have been a nightmare employee at that time. The worry of losing my job didn't help my stress levels. My bosses were very understanding and patient, thank goodness. Grandma recovered from everything though and passed away very peacefully in her sleep just short of 90. I still miss her, even after all these years. She meant everything to me.


    It must be so hard to keep yourself motivated on the savings front with all that's going on in your life. I know having a savings cushion is very important but you've enough on your plate with your loved ones at the moment. Please don't beat yourself up about losing a bit of focus. Try to take a little time to take care of yourself too. Easier said than done, I know. Please don't let all the anxiety and stress you are naturally feeling make you ill.
    Last edited by carbootcrazy; 18-10-2016 at 7:33 AM.
    Make £10 A Day Challenge 2016: Jan-Nov:£2787.65: Dec:£61.27
    3-6 Months Emergency Fund Challenge #12: £620.00/£3000

    Original Debt: £56804 (@ LBM 02/13). Paid (on DMP): £29917. Balance: £26887
    Over halfway
    • Freysmum
    • By Freysmum 18th Oct 16, 9:24 PM
    • 124 Posts
    • 798 Thanks
    Freysmum
    Ahh Helen don't be worrying about us and keeping the thread updated, you have enough going on, please take some time to look after yourself xx
    Last edited by Freysmum; 18-10-2016 at 9:27 PM.
    Mortgage 11/2016 £48300 - 65 months left
    EF £7652/£8500
    Savings for DD school trip & DS1 wedding so far £2738/£5000
    • x_raphael_xx
    • By x_raphael_xx 19th Oct 16, 4:21 PM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    x_raphael_xx - I'm glad that I got it correct...hope you are well and staying motivated..you CAN do this!! xXx
    Originally posted by DreamerHelen
    I am staying motivated, I just unfortunately haven't had any spare money to trickle into the ISA.
    I was off sick from work for a few days a couple of weeks ago. I did an extra shift last week which managed to cover the deficit in wages and left me with an overall 'bonus' of just £2.79 which I will transfer when my wages go in on Friday.
    I have been doing surveys etc to earn some pennies, and have almost reached my first pay out balance.
    I sold something on ebay too, but after fees I ended up at a 3p loss!

    Hope everyone has been adding those pennies
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • Mooloo
    • By Mooloo 19th Oct 16, 6:50 PM
    • 8,537 Posts
    • 42,219 Thanks
    Mooloo
    I've once again had to dig into my funds for my Eldest this time. But I'm going to have a self enforced spending break after today until I replace the money.
    The cupboards and fridge are full, so it's time to dig deep past my comfort zone and get batch cooking etc.
    I'm struggling with motivation the minute the sun goes down. Reminding me why I wanted to retire to sunnier climates. To stave off depression.
    Hope everyone finds their inner mojo and recoupes what ever they can to revitalise their savings pot.
    Making thermal cooking bags, too help others save fuel costs, and produce fabulous meals for pennies! I love my sewing, and it has helped me to make new friends and feel useful!
    • x_raphael_xx
    • By x_raphael_xx 20th Oct 16, 1:23 PM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    Paid my first withdraw of survey earnings into my ISA today.

    £6.88 which brings my total to £7782.23.
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • Dobbibill
    • By Dobbibill 20th Oct 16, 8:27 PM
    • 1,728 Posts
    • 2,862 Thanks
    Dobbibill
    #2 update

    just dropping in quickly to update my new total.

    another £148.34 added to the fund today so my new total is now £7406.14 aka 85.13%

    hope everyone is doing ok. been dropping in to read the updates but been a bit manic lately.

    keep on keeping on

    Dobbi
    If you always do what you've always done,
    you will always get what you've always got!

    £1000 EF #45 = 130%
    3-6 mnth EF #2 = 88.55%
    Christmas savings 2016 = 100.66% & 2017 = 7.6%
    • carbootcrazy
    • By carbootcrazy 20th Oct 16, 8:46 PM
    • 3,060 Posts
    • 17,688 Thanks
    carbootcrazy
    Commiserations to everyone who has had to dip into their funds for life's emergencies.


    Big congratulations to all the savers, especially you, Dobbibill, who is doing so well but also never fails to keep us all motivated and encouraged.


    I too drop in to read how everyone is doing but find it easier to add my savings up at the end of the month rather than as I go along. Getting near the time of the month when I'll be able to see how much I can spare to save


    As you always advise us to do, Dobbibill, I'm definitely keeping on
    Make £10 A Day Challenge 2016: Jan-Nov:£2787.65: Dec:£61.27
    3-6 Months Emergency Fund Challenge #12: £620.00/£3000

    Original Debt: £56804 (@ LBM 02/13). Paid (on DMP): £29917. Balance: £26887
    Over halfway
    • x_raphael_xx
    • By x_raphael_xx 21st Oct 16, 10:15 AM
    • 3,123 Posts
    • 14,425 Thanks
    x_raphael_xx
    £2.79 extra wages paid into ISA this morning, and while I was updating my budget I decided I had a spare £100 to pop in too.

    Total now £7885.02
    Debt Free as of 17/01/2009 Turtle Power!!
    Nov Grocery Challenge £42.17/£54 Nov NSD's 05/22
    EF Challenger #36
    £8058.40/£10,000 Lose weight +2.8/10lbs
    • Dobbibill
    • By Dobbibill 22nd Oct 16, 3:39 PM
    • 1,728 Posts
    • 2,862 Thanks
    Dobbibill
    Big congratulations to all the savers, especially you, Dobbibill, who is doing so well but also never fails to keep us all motivated and encouraged.

    As you always advise us to do, Dobbibill, I'm definitely keeping on
    Originally posted by carbootcrazy
    Thank you CBC - this really cheered me up after manic times here.
    Looking forward to your monthly update soon

    I've got another small update to add......every little bit helps I reckon

    #2 added £99 so new total is £7505.14 aka 86.27%.


    Dobbi
    If you always do what you've always done,
    you will always get what you've always got!

    £1000 EF #45 = 130%
    3-6 mnth EF #2 = 88.55%
    Christmas savings 2016 = 100.66% & 2017 = 7.6%
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