The £1,000 emergency fund challenge.

Eyebright

georgiebrown0 wrote: »

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

That's a fab amount to kick start with georgie. Always nice when you find some money you had forgot you squirrelled away!

speakingofart

Checking in - only managed to allocate £10 this month, but better something than nothing! As I use YNAB, I have other rainy day pots for car tax/ insurance/ yearly bills so could raid those in a dire emergency, would prefer not to though! Hopefully in the next couple of months I'll be able to contribute more - slowly but surely!

Eyebright

patman99 wrote: »

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

Hope you had a lovely evening patman, do you do anything nice?

Nintud wrote: »

#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:

Well, they do say things happen in 3's:eek: So hopefully the bathroom, fence panels and neighbours mess is yours done now. But yay on rounding up to £10. It's the little top ups like that will soon add up! Also that's 1% right there :D

chrisfreelander54 wrote: »

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.

Hope your DW is ok, car accidents are never fun...but at least as you say, you had the money already set aside to pay for the work without adding to your debt. That's what this is all about! Enjoy your days off. Can't wait for Friday 5pm, so can have 2 days off!

Trixxibell

Got paid OT today so moving £10 into my emergency account. I have a standing order set up for £50 a month to go into it. But I'm going to start putting £10 from my OT pay into it to.

Have a nice day xx

chrisfreelander54

georgiebrown0 wrote: »

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

Well done on your start, especially as its money you never knew you had.

speakingofart wrote: »

Checking in - only managed to allocate £10 this month, but better something than nothing! As I use YNAB, I have other rainy day pots for car tax/ insurance/ yearly bills so could raid those in a dire emergency, would prefer not to though! Hopefully in the next couple of months I'll be able to contribute more - slowly but surely!

Another YNAB user here. :wave:

Speakingofart £10 is better than nothing and it soon adds up, and like you say, you already have money already stashed away in other YNAB pots, so you could WAM if needed.

Trixxibell wrote: »

Got paid OT today so moving £10 into my emergency account. I have a standing order set up for £50 a month to go into it. But I'm going to start putting £10 from my OT pay into it to.

Have a nice day xx

Great idea to set up a SO, I may do this myself.

chrisfreelander54

Eyebright wrote: »

Hope your DW is ok, car accidents are never fun...but at least as you say, you had the money already set aside to pay for the work without adding to your debt. That's what this is all about! Enjoy your days off. Can't wait for Friday 5pm, so can have 2 days off!

Yes, DW is ok, she was a little shaken as never been in an accident where she was the driver.

Friday is just around the corner so youll soon be enjoying the weekend.

I can't wait for Friday either as its payday fro me. Yay :j, but back in work Saturday as my shifts start again then.

Jubilee76

Hi all

Thank you all for the warm welcome. In the spirit of little and often (and payday is over a week away) I have moved £2.50 into my now called Emergency account. That actually felt quite good and positive I have to say. From little acorns and all that

Sorry to hear about your DW, Chrisfreelander. Hope feeling better, it can really shake you up.

For those that are fans of YNAB, I have been reading their website this week. Have you found it to be as useful as they claim? I do read very good reports but really making sure before I spend the money on the app. Someone did say they felt they made the money back almost immediately with changing the way they view their money.

Hope all having a good day, it's sort of drizzly here.

Jubilee

peony40

Afternoon all,

Thanks eyebright for your encouraging words. I love the old style board, that is the first board I joined way back. If anyone has not looked at the old style section I highly recommend it.

Chris, sorry to hear about your wife and the car accident.

Looking forward to the 28th when I hope to have a little more money left over to squirrel away. I have opened up a building society savings account so that it is not so easy to withdraw money as I need to walk into town to the branch with a pass book.

Good Luck all.

Debt_Free_Desires

I would really like to join this challenge. I, like many on here have been wanting to start an emergency fund for ages & dream of having 3 months salary saved up, but somehow end up spending my spare cash on non-emergency items and never have anything to put in.
I like the thought of being part of a group encouraging each other to get to our goal.
So to start I have today cashed in my change pot and paid it in to a new savings account. I am really pleased to say that my emergency fund currently sits at £24.88 (2.48%)
Look forward to cheering each other on :T:T:T
DFD

chrisfreelander54

Jubilee76 wrote: »

Hi all

Thank you all for the warm welcome. In the spirit of little and often (and payday is over a week away) I have moved £2.50 into my now called Emergency account. That actually felt quite good and positive I have to say. From little acorns and all that

Sorry to hear about your DW, Chrisfreelander. Hope feeling better, it can really shake you up.

For those that are fans of YNAB, I have been reading their website this week. Have you found it to be as useful as they claim? I do read very good reports but really making sure before I spend the money on the app. Someone did say they felt they made the money back almost immediately with changing the way they view their money.

Hope all having a good day, it's sort of drizzly here.

Jubilee

YNAB has totally change my perception of money, which has helped turn our life around financially.

We managed to get YNAB free as DW is a partime student and aslong as she is studying, once she had complete her college course we will have to purchase their software for a one off fee (about £30 i think).

When DW finishes studing I will buy the YNAB software as i saved more than 10x the cost in my first couple of months of using it, or we could always join in the free webnars on the site which will enable us to be in with a chance of winning the software for free.

peony40 wrote: »

Afternoon all,

Thanks eyebright for your encouraging words. I love the old style board, that is the first board I joined way back. If anyone has not looked at the old style section I highly recommend it.

Chris, sorry to hear about your wife and the car accident.

Looking forward to the 28th when I hope to have a little more money left over to squirrel away. I have opened up a building society savings account so that it is not so easy to withdraw money as I need to walk into town to the branch with a pass book.

Good Luck all.

Have you thought about opening a halifax plus current account, as you will get 5% interest each month on any saving you have in there, as long as you pay in £500 per month, which can be done manually via internet banking then simply transfer back to your main account either later in the day or the following day.

Debt_Free_Desires wrote: »

I would really like to join this challenge. I, like many on here have been wanting to start an emergency fund for ages & dream of having 3 months salary saved up, but somehow end up spending my spare cash on non-emergency items and never have anything to put in.
I like the thought of being part of a group encouraging each other to get to our goal.
So to start I have today cashed in my change pot and paid it in to a new savings account. I am really pleased to say that my emergency fund currently sits at £24.88 (2.48%)
Look forward to cheering each other on :T:T:T
DFD

Hello DFD, :wave:

Welcome to the EF thread and congratulations on making a start towards your EF.