The £1,000 emergency fund challenge.

Calling14

Hi sorry haven't been her in a while. Hope everyone is alright. EF now stands at 120 pounds another 10 pounds added today.:)
:xmastree::xmassign::snow_grin

2sonmum

Could I join please don't currently have an emergency fund and really need on. 2017 is going to be my year for being organised and budgeting.

*snow*white*

Hey everyone,

Well poor dh has needed £400 worth of dental treatment this month (Had to be Dec of course:mad:) so the EF has taken a bit of a battering but at least it wasn't put on the plastic :T

Have readjusted my category for "medical" in the budget for next year to cover treatment in the future.

Dobbibill

2sonmum wrote: »

Could I join please don't currently have an emergency fund and really need on. 2017 is going to be my year for being organised and budgeting.

of course you can join 2sonmum - Patman will be along shortly with a number for you.

Welcome aboard - keep us updated with your progress and challenges, we love to hear all of the updates.

ab_saver

#208 here - some more automated TTS take me to £21.35.

I know I have a long way to go but seeing incremental progress every few days make me very happy!

[Deleted User]

Well sadly my EF has taken a bit of a knock because of having to get the fridge-freezer crisis sorted. Everything now safely stored in the new one so that's a relief!

I used a little money that I'd earmarked for something else plus banked my yearly stash of loose coins (which was more than I expected) and used that towards it too so the EF only had to have £120 taken from it:j. Now standing at £880. Will be trying very hard to get back up to £1000 as soon as Christmas is over. I love the security of having an emergency 'cushion'.


Wishing you all a very happy Christmas and a new year that brings you success, good health and happiness:xmastree:. Thanks for all the encouragement and camaraderie along the way:beer:

See you on the other side:)

theresamum2

Hi everyone I would like to join just wondered how people save for the 1000 EF do people just put spare change in a money box or something sorry not sure how I should save.thanks

Dobbibill

theresamum2 wrote: »

Hi everyone I would like to join just wondered how people save for the 1000 EF do people just put spare change in a money box or something sorry not sure how I should save.thanks

Hi theresamum2, welcome to the thread. Patman will give you a number when he pops in.

Opt for a method that suits you and your lifestyle.

I personally opt for a standing order every month into a savings account.

Others do things like selling stuff they no longer want/need. Any rebates/TCB that come in get put into the EF. Other's tidy their account to even £s so transfer pennies over when they spend. A few use save the change feature with their bank account (this is only with Lloyds bank). Some move over anything spare in their account the day before pay day.

Lots of different ways, you'll find what works for you as you start to add to your pot........beware though, it does become addictive

Dobbi

mossy

Pay day so popped another £30 into the EF.

Happy Christmas everyone! :xmastree:

patman99

Welcome to 2sonmum, who is or 215th member and to theresamum2 who is member #216.

Have been a wee bit busy the last few days, so haven't been on the computer for a while.

Merry Christmas to all my fellow members.

CBC, things like the freezer failing are what the EF is for. It means you don't have to scrimp around for money to replace it. Instead, you can use your EF and then drip-feed it back up to the target again over a time period that suites you.

My Ef is less than £300 at the moment, but I am building it back up after using it to pay bills whilst not working (for reasons I will not disclose, I did not wish to put in a JSA claim at the time).