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  • FIRST POST
    • DreamerHelen
    • By DreamerHelen 20th Oct 15, 8:30 AM
    • 2,499Posts
    • 13,430Thanks
    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 - GOAL: £6000 CURRENTLY: £0/£6000
    2) Dobbibill - GOAL: £9000 CURRENTLY: £0/£9000 - COMPLETE!!
    2) Dobbibill - NEW GOAL: £5000 CURRENTLY: £3102.34/£5000
    3) Patman99 - CURRENTLY: £240
    4) LittleMissDetermined - GOAL: £7129 CURRENTLY: £2364.14/£7129
    5) Sophieo16 - GOAL: £3000 CURRENTLY: £3000/£3000 - COMPLETE!!
    5) Sophieo16 - NEW GOAL: £4000 CURRENTLY: £2862.51/£5000
    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: £2160/£4000
    10) crazy_cat_lady - GOAL: £6338 CURRENTLY: £346.92/£6338
    11) stormpassing - GOAL: £5400 CURRENTLY: £30/£5400
    12) carbootcrazy - GOAL: £5000 CURRENTLY: £3733/£5000
    13) Munchin - GOAL: £6000 CURRENTLY: £1300/£6000
    14) traveller - INITIAL GOAL: £1000
    15) Freysmum - GOAL: £8500 CURRENTLY: £8500/£8500 - COMPLETE!!
    16) The Only Girl - GOAL: £12,000 CURRENTLY: £9425.89/£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: £6000/£6000 - COMPLETE!!
    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: £3790/£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: £3000 CURRENTLY: £200/£3000
    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: £5050 CURRENTLY: £800/£4000
    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 - GOAL: £4500 CURRENTLY: £1250/£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 £100.36/£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: £1105/£3000
    67) FrugalinShropshire - GOAL: £7200
    68) Determined diva - GOAL: £2000 CURRENTLY: £1050/£2000
    69) muppets - GOAL: Euro 15,000 CURRENTLY: Euro 4000/15,000
    70) dfbefore30 - GOAL: £5000 CURRENTLY: £4677/£5000
    71) indigowarrior - GOAL: £6000
    72) angelpye - GOAL: £4200
    73) HoneyBee83 - GOAL: £1000 CURRENTLY: £800/£1000
    74) wegle - GOAL: £6000 CURRENTLY: £548.23/£6000
    75) Hillwalker17 - GOAL: £6000 CURRENTLY: £1000/£6000
    76) Doglover - GOAL: £7500
    77) NewMeNewLife - GOAL: £5000 CURRENTLY: £300/£5000
    78) Bumblebear - GOAL: £5670
    79) lilyflower7 - GOAL: £3000 CURRENTLY: £519.23/£3000
    80) Dogbooks - GOAL: £9300 CURRENTLT: £950/£9300
    81) kazt2006 - GOAL: £10,000 CURRENTLY: £7900/£10,000
    82) Jellybeans&FF - GOAL: £9000 CURRENTLY: £20/£9000
    83) Moneybutterfly - GOAL: £1000 CURRENTLY: £270/£1000
    84) moneymanager - GOAL: £1500
    85) fruitloop04 - GOAL: £6000 CURRENTLY: £750/£6000
    86) peedie - GOAL: £6000

    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; Yesterday at 9:23 PM.
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
Page 82
    • carbootcrazy
    • By carbootcrazy 7th Sep 17, 5:36 AM
    • 4,085 Posts
    • 22,938 Thanks
    carbootcrazy
    I never had much luck with Premium Bonds. 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


    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


    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. Thank you, all
    Make £10 A Day Challenge 2017. Jan-Aug: £4112.05 Sept: £139.86
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £15841
    . Getting there
    • x_raphael_xx
    • By x_raphael_xx 8th Sep 17, 5:38 PM
    • 3,376 Posts
    • 16,911 Thanks
    x_raphael_xx
    £150 paid into the EF today. Total now £800/£5050
    Debt Free as of 17/01/2009 Turtle Power!!
    - NSD's - /20
    EF Challenger #36 £800/£5050
    / Lose weight 20 / 30lbs
    • DreamerHelen
    • By DreamerHelen 12th Sep 17, 9:51 AM
    • 2,499 Posts
    • 13,430 Thanks
    DreamerHelen
    Hey Everyone....

    I'm so sorry yet again....Things have gone from bad to worse and then really good and then really bad....It seems like last year was the year for taking care of my Family and this Year it seems just to be a mixture of ill-health for me and trying to build up a Private Practice that will sustain me for the future....I'll get there!!

    So the bad is that I've been ill AGAIN!! This Weekend a Virus somehow got hold of me and I was throwing up for most of the day on Sunday (not a day I want to repeat anytime soon!!) and it's now Tuesday and although I'm feeling MUCH better I'm not 100% and still feeling a bit light-headed and nauseous at times but I'll get there...

    On the plus side....I've been offered some Therapy Work that is both lucrative and also doing exactly what I want to do which is helping those that have gone through trauma...so it's right up my street and I'm so excited by it!! On the downside it starts tonight and I'm not feeling my best...but I'm damn well going to go and I know I will enjoy it so I'm excited about that...

    Nothing to report money-wise but hopefully after this work is finished (It's definite for 2 weeks and may continue after that)...then I can add something to the Pot and get started again....

    I'll add my individual thanks to everyone below but thank you to ALL of you for keeping this Thread going in my absence and I will really make a concentrated effort to come back more often and to get started with my own Savings...You're all amazing and an inspiration to me xXx

    Here's to the Updates....

    crazy_cat_lady - I've Updated the First Page with your Total...You're doing AMAZING!! Keep on going...it's lovely to have you back..you're Welcome here ANYTIME!! xXx

    Dragon Lily - I've Updated the First Page with your Total...You're doing AWESOME!! I know you can do this!! And thank you so much for your lovely words... xXx

    stoplurking - I've Updated the First Page with your Total...You're doing INCREDIBLE!! Do keep on moving forwards....You're more than welcome and thank you for your wonderful words... xXx

    fruitloop04 - It sounds like you have a firm plan in place which is always a good thing....Where are you off on Holiday? Somewhere nice and warm I hope. And thank you to you too for your amazing words xXx

    carbootcrazy - I've Updated the First Page with your Total...You're doing BRILLIANTLY!! You CAN do this!! You're welcome always and thank you for your wonderful words, much appreciated xXx

    x_raphael_xx - I've Updated the First Page with your Total...You're doing GREAT!! Keep going....and Congratulations on exchanging on your home...that's great news and enjoy your lovely new home xXx

    abundant1972 - I've Update the First Page with your Total...You're doing INCREDIBLE!! You know you can do it and so do I!! It sounds like you have had so much going on, I wish you all the best with your move to Manchester...people are so friendly up North, you'll do just fine hun... xXx

    peedie - WELCOME WELCOME WELCOME to our Group..It's lovely to have you here....I've Added you to the Members List and put your Target down...Please do come and let us know how you get on....We are very supportive and friendly and we love to celebrate when someone does well and try to help when things aren't going so well....you'll always be welcome here...I look forward to hearing how things are going for you xXx

    Dobbibill - Thank you so much hun for your continued support and for always helping to keep this Thread going....I hope you are well... xXx

    skye blue - Did you figure out what to do about your savings? I'm afraid I'm not much help as I do a lot of my Savings in Pots at home....otherwise I get too tempted to dip into my Accounts....Thank you for your lovely words... xXx
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • HoneyBee83
    • By HoneyBee83 12th Sep 17, 11:23 AM
    • 331 Posts
    • 3,474 Thanks
    HoneyBee83
    Good morning!
    I have been lacking on the Forum side of things. Had a promotion recently and DD started High school so life has been crazy this past month or so.
    But on the plus side I have been able to squirrel a nice little sum in my EF
    I am now £800/£1000 I completely intend to hit my target by Christmas at the latest!
    SPC #050 £250.00
    Emergency Savings #73 = £800.00/£1,000
    House Savings = £13,000/£15,000 + £250.00 Furniture
    Morrisons= £55.00/£100.00 Xmas 2017=£150/£200
    Holiday Fund, Greece = £0.00/£2,000
    • skye blue
    • By skye blue 12th Sep 17, 8:46 PM
    • 95 Posts
    • 424 Thanks
    skye blue
    Hi guys

    Sending you good wishes helen

    i didn't put my £1000 in an account to make £13 a year so i bought premium bonds, you never know eh plus i can get my money back with a few days so still counting as emergency fund

    ive paid extra £500 off my mortgage (paid £440 and waiting a week or so before sending the rest) i sent it too early in the month last month and struggled towards the end of the month so trying to space it out now.

    bank account balance stands at £170 now & my £1,000 bonds - £1,170 emergency fund
    down slightly but then my mortgage has gone a bit lower too, ive got the feeling that interest rates are going to change soon so every little helps

    keep going everyone, think its really great how we all keep each other going through ups and down

    and helen we're all hoping lots of ups are heading you way x
    • DreamerHelen
    • By DreamerHelen 18th Sep 17, 1:38 AM
    • 2,499 Posts
    • 13,430 Thanks
    DreamerHelen
    Hey Everyone

    Well this Week has been really great (once I started to feel better that is!!)....I started my new Therapy Work, it's been quiet but feels really fulfilling and amazing to think that I can now pay for some things that need paying for and (hopefully) begin to save more than I have in recent months...I'm hoping it will carry on for the next few weeks but hopefully that will be confirmed after tomorrow....

    So I'm 5 and a half hours into my Shift and finishing at 3am....It's going to be a loooooooong morning tomorrow as I will get home around 3.45am and then get a couple of hours sleep and then wake up, get ready and go and see three Clients...but I CAN sleep in the afternoon so I may take the opportunity to do that...

    Feeling more positive than I have in a while...let's hope it continues!! xXx

    Here's to the Updates...

    HoneyBee83 - I have Updated the First Page...You're doing AWESOME!! Please don't worry if you can't always pop in and Update...I can't always do that either...You're always welcome whenever you can pop in....and Congratulations on the new Promotion...I hope it goes really great for you!! xXx

    skye blue - You are so lovely to wish me well....I hope that this Week is the first of many many "ups" for the future.... I'm a bit confused as to whether you want me to Update anything on the First Page...Can you let me know please hun? xXx

    Keep Going Everyone...We CAN do this!! xXx
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • Mooloo
    • By Mooloo 18th Sep 17, 6:28 AM
    • 9,135 Posts
    • 44,580 Thanks
    Mooloo
    Missing in action because I am finding it very hard to save and am even using my overdraft. My income dropped , my tax credits dropped, my guardianship funds dropped, and my housing benefit/council tax also dropped so my rent and tax went up. With all the demands on my finances because of my son's dreadful ones, and Biggests wedding I am in a financial mess for the first time in 10 years.
    I can't get to grips with my budget, and still over spend too often.
    I am my own worst enemy for caving in and giving money to the family and leaving my self without.
    But I have managed to get £100.36 p into the emergency fund. Just. Not sure when I will be able to syphone any more off though.
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
    • skye blue
    • By skye blue 18th Sep 17, 7:30 PM
    • 95 Posts
    • 424 Thanks
    skye blue
    hi helen and fellow savers

    please amend my total £200 (whoops)

    ive had a spendy couple of weeks, i bought £750 of bonds (decided not to count these in my total although i can get the cash back if really needed) a new hoover, floor steamer, new throws and cushions, a couple of xmas presents, paid half to a fridge freezer for mum (too many fire scares going on at the moment, wasn't happy with her having an old one) plus stocked my freezer and paid a bit extra over to my mortgage

    Nothing too extreme but it all added up, back to the £10 a week again

    Enjoy the week everyone and keep up the
    • DreamerHelen
    • By DreamerHelen 24th Sep 17, 9:28 PM
    • 2,499 Posts
    • 13,430 Thanks
    DreamerHelen
    Evening All!!

    I'm messaging you all from the Night Shift....I'm tired tonight and can't wait for my bed but it won't be until around 3.45am...so a while to go....still, I can't complain...

    Here's to the Updates.... xXx

    Mooloo - I've Updated the First Page....You're doing AMAZING....don't beat yourself up....It sounds like you have an awful lot going on....Try to be kind to yourself as best you can...you are ALWAYS welcome in here whether you have £100 or £0 in your Account...or anywhere in between....I hope things improve for you soon....Remember that Martin says there is no Debt that is unfixable...so you CAN sort this out... xXx

    skye blue - I've Updated the First Page....I just want to check that I have the Total correct so can you double check on the First Page for me please hun? You're doing AWESOME! Keep on going... xXx
    Pay ALL Your Debts Off By Xmas 2017 #13 £6000 Emergency Fund #1 £0/£6000 General £1000 Emergency Fund #13 £0/£1000 MSE Sealed Pot Challenge #089 - Stars From SueUU x23
    • dfbefore30
    • By dfbefore30 25th Sep 17, 8:08 AM
    • 27 Posts
    • 95 Thanks
    dfbefore30
    Last month was quite spendy and I had to dip into my fund,but I've topped it back up again today and I'm soooo pleased to say that...I've DONE IT!!! £5000/£5000!!!!
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