The £1,000 emergency fund challenge.

kermit2601

YoungBusinessman wrote: »

How many times iv said "one drink" though....wake up the next morning thinking what happened!:eek:

Knocking the drinking on its head is one challenge that will help me achieve this £1k emergency fund alot quicker. I think for every Saturday night i stay in £30/40 should be put into emergency fund.

Well the way it works for me is the start of the month i put x amount in joint account that i know covers everything as far as mortgage and household bills come too then i just need to work out what all is coming out my own account that month + a wee spends budget, shift the rest instantly, although i shift it to somewhere i still have access too it should i need it. Away to try and work out my next 3 pay month!

I'm not going to lie...it has happened on numerous occasions but I'm determined to stick to my "allowance" meaning I've maximum £10 left which doesn't buy much in the bar I'm heading to (top quality beer though)

That tends to be the way I do it. Joint account gets the Rent and bills money (along with food shopping) the rest I'm trying to work out. I used to put the whole lot in (Rent, House deposit savings) at once but now trying to find the best split for 2 pays a month.

kermit2601

Just rounded down my pre-pay balance. Now at £111.27 in my EF. Slowly but surely!

chrisfreelander54

Added £4.43 today as not sure whats spare atm.

patman99

Moved £61 over today, but looks like I will be moving £20 of it back due to circumstances beyond my control.

redlaces

Is there room for one more? My fund is currently at £37.00 (have to start somewhere) but like having a nice round £1000 to aim for!

StressedSteph

#34 checking in. Thanks for adding me :j


I got paid £100 yesterday so have transferred it into my Emergency fund.


£106.25 now = £893.75 left to save

stiltoncheese

Can I join please?

I have been doing this challenge myself over the last few months and currently have £331.22 sitting in my emergency fund. Hoping to get this up to £1000 by April (sooner if I can, but April seems most likely). That leaves me some slack for xmas (have £350 saved for it, but may need another £50-£100 for food etc on top depending on whether we stay home or go to my folks).

Debt_Free_Desires

Welcome to the thread redlaces & Stilton cheese:)

Stressedsteph - your EF is looking great :T

I Tilly tidied another £3.24 bringing my total up to £43.14. I am going to struggle to add anymore now this month but my aim is to get it up to £50 by the end of November then I'll be happy.

DFD

patman99

Ha! I stand by my comment about this thread being like the Ark. It seams people are joining in 2's.

Welcom redlaces and stilton cheese.

Wonder if we will hit 100 members by Christmas ?. Now, that would be a milestone.

StressedSteph

Thanks Debt Free Desires.

Just sold my Dd's old metal frames single bed for £50 :T

Minus Paypal fees I have just added £48.11 into my Emergency fund

Total now standing at £154.43:T

£845.57 left to go xxx