The £1,000 emergency fund challenge.

georgiebrown0

Can I join please would love to build a emergency fund up

Jubilee76

Hi all

Could I join please. I've read through the thread and you all seem so friendly. I've always wanted to have an emergency fund and have also read Dave Ramsey principles.

My progress will be slow and steady for the foreseeable future but hopefully pick up some. I love that this challenge is at your own pace and for each individual's needs.

Payday is still 9 days away(eek) so hopefully be able to start then. yet again Xmas seems to have taken me by surprise :rotfl:- I really must plan for this better next year! Is everyone else good at saving for Xmas?

Jubilee x

monz

Yeah Dreamer Helen I am in x

peony40

Hello All,

At long last I have been able to squirrel some money away, drum roll please!

It is the princely sum of £5.00

As I don't work and have absolutely no income my savings come from my housekeeping budget so I will never have huge amounts. But it is nice to have got the ball rolling.

Good Luck all.

Eyebright

georgiebrown0 wrote: »

Can I join please would love to build a emergency fund up

Hi georgiebrown, welcome to the group! Patman will allocate you a number and add you to the first post :j An emergency fund is so important in debt free journeys as it will ultimately keep us all out of future debt

Jubilee76 wrote: »

Hi all

Could I join please. I've read through the thread and you all seem so friendly. I've always wanted to have an emergency fund and have also read Dave Ramsey principles.

My progress will be slow and steady for the foreseeable future but hopefully pick up some. I love that this challenge is at your own pace and for each individual's needs.

Payday is still 9 days away(eek) so hopefully be able to start then. yet again Xmas seems to have taken me by surprise :rotfl:- I really must plan for this better next year! Is everyone else good at saving for Xmas?

Jubilee x

Welcome aboard Jubilee, a lot of us are going the slow and steady route here. We aren't racing, and still making sure we can afford to live and tackle our debts. Rounding down bank accounts, money saved by being frugal, using deals and offers, ebay sales and cashback sites seem a popular way to find small amounts, which all add up!
Last year I was rubbish and so unprepared for Christmas, a lot of my debt has come from Christmas, and last December was when I had my LBM:o This year I have saved £30 a month towards Christmas, started ebaying to raise more money for presents, and squirrelled change away in a sealed pot. So hopefully this year I wont add to my debt and be miserable and worried over Christmas. Last year was my rock bottom

peony40 wrote: »

Hello All,

At long last I have been able to squirrel some money away, drum roll please!

It is the princely sum of £5.00

As I don't work and have absolutely no income my savings come from my housekeeping budget so I will never have huge amounts. But it is nice to have got the ball rolling.

Good Luck all.

Yay! Off the starting blocks Peony, well done! 0.5% right there. All we can do is put aside what we can. Alot of us have tight budgets, especially in the run up to Christmas. Do you visit the OS boards much? I find them inspirational for trimming the grocery and household budgets. Could help you find a few more pennies maybe?

Cor blimey, you lot have been very chatty today, so much to catch up on!!!! :D:D
DreamerHelen, I'm fine thank you. Pleased with my 12%, and hoping to add a couple more %'s on Friday when I get paid.

October, I hope your job remains secure, but at least you are preparing as best you can. My long term goal is to have 3 months wages saved too Helen, but mine would be nearly £6000 too, and that's an overwhelming amount atm! :eek:

patman99

New members now have their numbers.
Wasn't on the PC yesterday as I go out on a Tuesday evening.

Nintud

#7 checking in with a £1.13 deposit to round my fund up to £10 :rotfl:

As well as the ongoing soggy ceiling (no time to get a plumber in yet), we've now lost 2 fence panels and a centre post to yesterday's high winds

Not an immediate emergency as the kidlets don't go out there now that the evenings are darker, but a pain in the proverbial nevertheless as the fallen panels now reveal the ransom strip behind us and the garden waste our neighbour has so kindly dumped in there. Will definitely need sorting soonish.

Ebaying for all I'm worth to catch us before we fall any further.
Also wondering whether £1000 emergency fund would actually be enough for this money pit of a house :rotfl:

DreamerHelen

Welcome to ALL of the new Members.....Just remember that this at YOUR own pace....it is NOT a race and you can put in as much or as little as you can afford....As Eyebright said, the point is to have something for an EMERGENCY but still be able to pay our Debts and survive and buy food and things....


I've also been saving in a Sealed Pot Eyebright....I did the same last Year as I was fed up having to borrow money to pay for Christmas Presents....this year is a bit of a lean year but I will still have enough to pay for Christmas outright without borrowing ANY money at all


£6000 IS a staggering amount Eyebright....but don't think of it as "I have to have that right now"....just keep plugging away and before you know it you'll be up to £500 and then £1000 and then £2000 and before you know it you'll be halfway there....It might take 10 years to get there (in my case this could be a distinct possibility!!) but who cares....It will just be good to have some money there in case anything happens....


You're all doing BRILLIANTLY...keep it going!!

chrisfreelander54

Another £32 added today from monies recieved from Topcashback, so a running total of £675.57 so far.

Unfortunantly DW was involved in a car accident yesterday, so £200 will be taken from the EF to cover the insurance excess once the car has been repaired.

On the flip side of the coin, at least we have this is sitting in an account for just such an emergency, otherwise we would have been borrowing from family members or putting it on the plastic.

Well I have couple of days off work now so apart from the kids swimming lessons tomorrow and kickboxing to take them to on Friday I will be chilling around the house, or catching up on the DIY Ive been putting off for a while now.

Good to see a few more members joining in the challenge, welcome aboard everyone.

georgiebrown0

Have a natwest account which I am going to use just checked the balance and there is £49.88 not a bad start