The £1,000 emergency fund challenge.

Debtfreewannabme

Hello,
Things are on the up. I got some PPI back from an old CC. £400 that will be going straight into the EF when the cheque comes through. It was a lovely feeling knowing that the money wouldn't be reabsorbed into any debts.
#274: £100 paid into EF
£210/ £1000

patman99

Barbie61, I hope you are using a free service for your DMP and not a fee-charging one.
Folks like StepChange will allow you to adjust your budget as your life changes. For instance, you could ask for a budget review due to a change in circumstances.
According to the budget I did with SC, I smoke 2 packs a week (I am actually a non-smoker and always have been). This reduces my available free funds. It does mean that itwill take longer for me to pay back my DMP, but gives me enough to build up my EF and save up to potentially offer full and final settlements on some of my debts.

Sorry to read about your rat problem. For some reason rodents are attracted to the cellulite used in electrical cable insulation which is why they chew through cabling. Unfortuanately when houses are wired-up these days, they don't bother running the cables in lofts and under floors in conduits like they used to.

Debtfreewannabme

Hello - change of plan re our PPI money. We talked decided to use it towards getting us all passports as we have decided that we will have one holoday abroad before we buy a house. We both wrk hard and feel it will do us good to go away. I have had to take some money out of EF as I set out budgets too tight and left us almost short. Initially felt annoyed that I had to do this, but now feel grateful that I have an EF in the first place.
EF balance £180/£1000

lcc86

Just a quick update, have transferred money into the EF and now have £1177, which isn't bad considering the battering it took in March. We also had some hopefully positive news about the roof, looks like it might not need replacing after all so hopefully what I have will cover it, but I'll keep saving just in case! Plus it'll be good to have some left over once that has been paid for, it seems to be dragging out for ages which is frustrating but good for the finances.

Littlebigmoose

Hello, number 270 here, haven!!!8217;t posted in a long time. Its good to read that people are getting on with their EFs. I had to deplete the little of what i had in my EF when I lost my keys !!!55357;!!!56862;. Oh well, back to square one but will get there.

MelBell2015

Hi,

Can I join the challenge please?

Thanks :-)

Stayathomemum36

Sorry been AWOL due to various circumstances...March was a terrible month for us financially with a big car repair, kids needing shoes and vet bills for our dog who is due to get put to sleep next week So our fund now sits at £368.19 #272....I could cry!

System

Well our EF has not really got going yet, all sorts of things eating up our money. But please to report that by the end of May we should have way over the £1K that I was aiming for due to OH getting a pension payout and we are using some of it for EF and some for F&F's pot....as well as getting a long over due new (2nd hand) car and having a little holiday, which we haven't had a proper on since 2013:)

foxyloxy11

Stayathomemum36 wrote: »

Sorry been AWOL due to various circumstances...March was a terrible month for us financially with a big car repair, kids needing shoes and vet bills for our dog who is due to get put to sleep next week So our fund now sits at £368.19 #272....I could cry!

I've been in this position a few times BUT on the positive you had the money to cover things, no debt accrued and your emergency fund will be back up again in no time. Just think of the pain if you hadn't got one

foxyloxy11

Stayathomemum36 wrote: »

Sorry been AWOL due to various circumstances...March was a terrible month for us financially with a big car repair, kids needing shoes and vet bills for our dog who is due to get put to sleep next week So our fund now sits at £368.19 #272....I could cry!

Me again! Sorry only just spied the dog bit (reading too fast in between jobs!) Sending virtual hugs