The £1,000 emergency fund challenge.

twiggy86

Payday today so I transferred £20 to my emergency fund. Hopefully be able to up this after christmas. So I'm up to £59.15 now - way to go yet but moving in the right direction!

MessyBetty

Carbootcrazy I am with you on the safety front as I carry elderly passengers and appreciate how you feel, I hope the costs are minimal x

Redlaces and Twiggy86:j each payment is a step closer to your EF target hope to follow in your footsteps soon.

I used to transfer money each month to my savings account and transfer it back towards the end of the month:o joinig this challenge has taught me to save small and often and more importantly leave it there! Thank you Patman and all members of the £1000 EF savers for showing me the way :beer: x

Simply_Saving

Thank you for my #43!!


I can't wait for my end of December pay so that I can make a start.


I'm another one with recent car troubles which only highlighted the need for savings. I've had a dreadful few years financially and therefore have no access to credit in an emergency (not that I want it) and it will be a few years until my credit file is repaired.


It took everything I had to find the £300 for the car repair bill which means I've had a very tight November and this will continue until the end of December when I get paid. With Christmas and my daughter's 9th birthday in December I'm certainly going to have to get creative!!


N x

[Deleted User]

So sorry to hear of your car troubles too, Simply_Saving, it's a real pain isn't it? Welcome aboard this challenge too. I'm a newbie as well and this latest car problem has brought it home to me more than ever that I need an emergency pot:eek:

Like you, I have no source of credit (not even an overdraft:o) and with every penny needed just to make ends meet it is nigh impossible to scrape together anything to save, even for such an essential as an emergency fund. But once this latest car expense is done and dusted I'll be doing everything I can to put some sort of emergency cushion in place just in case. The panic when something goes wrong when there's no money to put it right is something you have to go through to understand. I 'm sure you do:)

Good Luck:beer:

Simply_Saving

Absolutely Carbootcrazy!!


Cars are unfortunately a necessary evil don't you think?


I totally get the blind panic when you realise you have no savings and just one emergency away from disaster.


Like you every penny is accounted for and the budget is already very tight but I've got no choice except to rework the budget and find some money somehow. I'm going to look at the budget again and scrape together everything I can until I get that £1,000.


It's scary but it's got to be done and I just keep telling myself it will be such a relief to have it and the sense of relief will be immense. At this rate even the first £10 will be more than what I've had until now.


Nat x

Calling14

My emergency fund is on loan to my current bank act, as paid my credit card twice this month, both mine and card co. fault but rather than go overdrawn pinched these pennies will be back by next week. Will leave my signature as it is for now.

patman99

What is it with cars this week ?.
Mine decided to throw-on an engine fault light as I accelerated down the slip road and on to the A12 yesterday.
Having had it linked to a diagnostics computer, it appears to be down to a blip in the fuel pressure. Luckily though, the pump is reading fine, so they have put it down to a dirty fuel filter which they will change for me Friday next week.

Carbootcrazy, there is a website you can use to find a replacement door for your car. You just fill in your details & any scrapyard signed-up to the site will get an alert and will give you a price with delivery. One piece of advice I will give and that is to wait at least 3 days before choosing the yard to buy the door from as you will have a whole range of prices to choose from.

One of my workmates has had to use the site to try to locate a wing mirror for his Jag after some scumbag kicked the old one off. A gunuine Jag part without plastics is £260 plus fitting. So if he can get a full one complete for less, he'll be happy.

Anyway, welcome to our 2 newest mambers. Your numbers have been added to post #1.

patman99

Carbootcrazy, noticed you are on a dmp with Stepchange. I'm about to enter that teeritory myself. Luckily, I still have one functioning credit card for emergency purposes only.

[Deleted User]

Sorry you've had car trouble too,patman, but it sounds as if yours wasn't too serious (i.e.expensive).

OH has already been on the phone to some scrapyards and has even called in at a couple of local ones. So far no joy but he won't give up until he finds the necessary bits needed for the repair. His car is a lot younger than mine and when his electric heated wing mirror was smashed by some lowlife in a carpark who drove off without leaving his details he had to pay an unbelievable amount to get it replaced. No scrapyards had any in stock as the car is too new to be at the scrapyard stage! No such problem with mine, it's 12 years old but has been unbelievably reliable until just recently, passing every MOT until the last one when there was a blowing exhaust. So I can't complain too much about expenses so far. No sign of rust either, the bodywork was immaculate until this latest fiasco. It looks a real sorry sight now.

[Deleted User]

As you said, patman, I'm with StepChange. I can't recommend them enough, they've been brilliant. Whoever you talk to on the phone is excellent and so reassuring. It was the best thing I ever did finance-wise when I got in touch with them for the first time.

I would love to have kept one of my credit cards but my creditors (all credit card companies) closed them without consulting me. It would have been wonderful just to have one available for emergencies even with a credit-limit of only £100 if necessary. I do have a debit card but obviously need the money in the bank first before I can use it.