The £1,000 emergency fund challenge.

System

Well our "savings" taken a bit of a hit since we started our DMP. but at least the EF is now going in the right direction...however slowly. Just added another £5 and hoping to add some more over the weekend. Onwards and upwards, even if I do have the lowest EF on here....:D

[Deleted User]

ploppy57 wrote: »

Well our "savings" taken a bit of a hit since we started our DMP. but at least the EF is now going in the right direction...however slowly. Just added another £5 and hoping to add some more over the weekend. Onwards and upwards, even if I do have the lowest EF on here....:D

Please don't worry about that, it's not a competition. Several of us have had to totally wipe out our savings because of emergencies (and funding emergencies is what the challenge is for anyway;)) and have been back to square one. You're going in the right direction, as you say, so well done to you:beer:

System

carbootcrazy wrote: »

Please don't worry about that, it's not a competition. Several of us have had to totally wipe out our savings because of emergencies (and funding emergencies is what the challenge is for anyway;)) and have been back to square one. You're going in the right direction, as you say, so well done to you:beer:

Thanks CBC. You seem to have done so well on your DMP journey to have reduced your debt by so much so quickly. Hope we are as lucky.

[Deleted User]

ploppy57 wrote: »

Thanks CBC. You seem to have done so well on your DMP journey to have reduced your debt by so much so quickly. Hope we are as lucky.

To be honest it was real slog for over 2 years at the start. I went about it all wrong, trying to repay at the fastest speed possible. I hadn't discovered the DMP thread then:o. I was existing rather than living and the emergencies that cropped up (and there were several either car or cat related) sent me into a total panic because I had absolutely no savings, barely had enough money for even the most frugal basics of life, and had no access to credit. Also, my OH knew nothing of my debts so I couldn't go running to him for bail-outs. I was so ashamed and embarrassed at getting myself into so much debt that I couldn't tell a single person and ask for help. The MSE forums were a lifesaver for me:j. 2 decent-sized PPI payouts helped considerably during this time. Plus, more importantly, I cut my DMP payments to sensible levels and started an EF thanks to this wonderful thread.


My debt balance shown in my signature doesn't include the 2 UE ones;). I'm still trying to find out about the others. Maybe I'll be lucky with them but if not I reckon I can still be debt-free by the very end of the year as I'll be trying some F&F offers.

Good luck:beer:

System

carbootcrazy wrote: »

To be honest it was real slog for over 2 years at the start. I went about it all wrong, trying to repay at the fastest speed possible. I hadn't discovered the DMP thread then:o. I was existing rather than living and the emergencies that cropped up (and there were several either car or cat related) sent me into a total panic because I had absolutely no savings, barely had enough money for even the most frugal basics of life, and had no access to credit. Also, my OH knew nothing of my debts so I couldn't go running to him for bail-outs. I was so ashamed and embarrassed at getting myself into so much debt that I couldn't tell a single person and ask for help. The MSE forums were a lifesaver for me:j. 2 decent-sized PPI payouts helped considerably during this time. Plus, more importantly, I cut my DMP payments to sensible levels and started an EF thanks to this wonderful thread.


My debt balance shown in my signature doesn't include the 2 UE ones;). I'm still trying to find out about the others. Maybe I'll be lucky with them but if not I reckon I can still be debt-free by the very end of the year as I'll be trying some F&F offers.

Good luck:beer:

Hope you do it by the end of the year, I'll keep my fingers crossed for you. We are saving for F&F's now we have started SM , so I know we will get there sooner than predicted.

patman99

Welcome Starmummy who is #275 and #276, Mydmp.

Not a lot to report other than sold 2 Ryobi Intelliport chargers as I have 2 1 hour ones now.
Funds added to tool budget.

moneyonmymindsam

Patman , Please can i ask you about
3-6 month EF

Is this a personal challenge or is there a thread for this ?

Thanks Sam x

[Deleted User]

moneyonmymindsam wrote: »

Patman , Please can i ask you about
3-6 month EF

Is this a personal challenge or is there a thread for this ?

Thanks Sam x

Hi Sam:hello:

In case patman doesn't get back on here for a while I'm butting in and posting the link to the challenge you were asking about:

http://forums.moneysavingexpert.com/showthread.php?t=5344441

Hope it works!

It's open-ended and you can join at any time even though it's been running since 2015. Please come and join us, it's a very supportive and friendly group:)

patman99

DreamerHelen suggested such a thread, so I said to her 'go ahead and start one' so she did.

I'm also a member on there as well, but don't post very often.

moneyonmymindsam

carbootcrazy wrote: »

Hi Sam:hello:

In case patman doesn't get back on here for a while I'm butting in and posting the link to the challenge you were asking about:

http://forums.moneysavingexpert.com/showthread.php?t=5344441

Hope it works!

It's open-ended and you can join at any time even though it's been running since 2015. Please come and join us, it's a very supportive and friendly group:)

:beer: Thank you