If you had to get ahold of every penny you could tomorrow how much would it be?

rictus123 · 4 December 2011 at 12:11PM

Clearing savings, my current account plus cash i have along with withdrawing on credit card and overdraft...i think no more than £5k....think that is very low tbh!! How much emergency fund do all you guys have?? Obviously i need to maximise it before i move out but dont know how much to go for.

k66yla · 4 December 2011 at 12:18PM

I've about £3.50 in my bank. No credit cards/overdraft/savings. So thats my emergency fund this week :eek:

rictus123 · 4 December 2011 at 12:20PM

Payday this week though??

Gordon_Hose · 4 December 2011 at 12:29PM

About £350!

£357 if I clear out my copper jar as well lol

rising_from_the_ashes · 4 December 2011 at 12:30PM

TBH as this is the Debt Free Wannabe board ..... I wouldn't expect most of us to be able to lay our hands on large amounts of cash - maybe try over on the Savings board.

Personally, I pretty much live hand to mouth (as a lot of people do) - by the time the bills are paid, there isn't a lot left - even now I've cleared my debts - it's a constant struggle not to get back into debt.

I guess if you're one of the lucky few who has money "to spare" then make the most of it and save what you can and ideally build up an emergency fund of around 6 months money ..... but please bear some thought to those who are struggling to balance the books and/or pay debts and don't have any spare cash to put anything aside.

I'm sorry Rictus as you've done really, really well to clear your debts and I really don't want to sound harsh .... but it's very discouraging to some of us when we hear you say you're hoping to save £20k next year (which is more than a lot of people earn) or can only lay your hands on £5k.

SailorSam · 4 December 2011 at 12:31PM

Everything all added up together about 1p.

oldhand · 4 December 2011 at 12:33PM

well if im really pushed I suppose I could get the missus to do a night "on the streets" Should be good for a tenner........;);)

HappyMJ · 4 December 2011 at 12:36PM

rictus123 wrote: »

Clearing savings, my current account plus cash i have along with withdrawing on credit card and overdraft...i think no more than £5k....think that is very low tbh!! How much emergency fund do all you guys have?? Obviously i need to maximise it before i move out but dont know how much to go for.

3 months worth of expenses saved up as an emergency fund is a good idea. Or access to cheap credit. If I maxed out all of my credit cards it would be many 10's of thousands but I wouldn't do it.

backinbusiness · 4 December 2011 at 12:53PM

rictus123 wrote: »

Clearing savings, my current account plus cash i have along with withdrawing on credit card and overdraft...i think no more than £5k....think that is very low tbh!! How much emergency fund do all you guys have?? Obviously i need to maximise it before i move out but dont know how much to go for.

Borrowing unsustainably on credit cards and overdrafts is why so many of us got into debt in the first place!

Bit of an insensitive thread in my opinion.

Sorry, OP

nearlyrich · 4 December 2011 at 12:56PM

I am going to move this thread to savings board as it is not really the place for a thread like this....

natlie · 4 December 2011 at 12:57PM

Um the only cash I could get my hands on immediately would be copper jar £5 - I have some cash on my credit cards about £70 but I dont know the pins for any of them my DD has about £800 in her savings but that would take a month to withdraw and it would have to be a proper emergency.