The £1,000 emergency fund challenge.

Kim_13

Hi all, I'm back.

My EF has taken a hit as I found a laptop which was exactly what I was looking for. Annoyingly, I found it on Sunday and had to pay off my credit card before I could order (wanted the S75 protection and cashback on my card, but only have a £500 limit.) This morning when the payment was updated on my account, I went online to order only to find the price had increased by £20 :mad: Reluctantly had to pay it, as knowing my luck it would be out of stock at such time as the price goes back down.

Not sure on my exact balance but I'm down to £400-£500 by the time EF pays my forthcoming credit card bill.

Stb_2

Morning, may I join please? Will adjust signature to reflect current status. Expecting current £275 fund to get wiped out in next day or two by divorce fees but want to keep a target in mind to achieve a decent pot for year end. Also have to factor in Christmas, birthdays etc

Kim_13

Stb wrote: »

Morning, may I join please? Will adjust signature to reflect current status. Expecting current £275 fund to get wiped out in next day or two by divorce fees but want to keep a target in mind to achieve a decent pot for year end. Also have to factor in Christmas, birthdays etc

Hi Stb,

Everyone is welcome; I'm sure Patman will be along soon to add you to the challenger list and give you your number.

There is an Xmas challenge that may also interest you, as it would allow you to separate those savings from your emergency fund. Most are doing £365 (equivalent of £1 a day) but you could set your own target if you would like to do less or more than this - some existing members are doing £2 a day.

Kim

Stb_2

Hi Kim,

Thank you for the warm welcome, much appreciated. I am using Ynab too so I sort of have a goal but I like the idea of a slush fund too, if nothing else would mean I could roll some money into next year or take my Mum out for dinner (she's earns it!) I shall have a look and see what I can do. I recently cashed in a change pot and got £27 which I used to take my kids for massive icecreams and up the credit card payment so I like the idea a lot!

Thank you again
Si

Macey1510

Hi, I would love to join please.
I'm starting with £20 for my EF.

Stb_2

Right, done some maths, money moving, scrimping and emergency fund is now £210/£1000 - can't quite believe I have this much money, feels like I've forgotten something! I've also realised that if 2 chequers I'm expecting to pay for a tent are late I have enough to pay credit card bill until they clear, unbelievable! :j

Just need to focus and persevere and the fund should grow bit by bit, just very slow!

[Deleted User]

Just dropping in to say :wave: and congratulate all the savers, whether you've managed to stash away a little or a lot:beer:. Every penny saved is a big help when emergencies occur;)


I'm chuffed to report (not to mention amazed) that my £1000 EF is still intact:j. I'm probably tempting fate saying that and next time I post on here I'll probably be moaning about some expensive disaster that's happened to me:eek:


Good luck, everyone:beer:

patman99

Right. Back on the PC instead of the tablet.

A warm welcome to our 3 new members, #226 Bird.Heart.Mouse,
#227 Stb & #22 8 Macey1510.

Stb_2

Cheers for that #227 it is!

foxyloxy11

#225 have added my monthly contribution and oddments from bank account. creeping up slowly