The £1,000 emergency fund challenge.

[Deleted User]

patman99 wrote: »

Starting to get statements in from my creditors. Have decided to use some of my EF to make a full and final offer on one of them.

Good luck with it, patman:beer:


I'm going to start down the same route with my outstanding debts anytime now too. Planning to get them picked off one by one and be finally debt-free by the very end of this year:j. Not going to be easy but I'm determined to give it a mighty good try. I'll be using the money I've managed to squirrel away from a couple of PPI payouts (sadly not mega ones:() and the fact I've only been paying token payments to all creditors for the past 6 months.


I hope your new washing machine has now arrived and is working well. Nothing worse than having no way of getting the washing done, especially as you do your mother's too.


Sorry I haven't visited the challenge for a while. I hope all members are doing well, saving money and enjoying the sunshine:beer:

indigowarrior

230 Rereporting for duty.
Starting Dave Ramsey properly now. Going to aim for £1k EF done in 3 months. Starting balance. £1

mossy

Hi everyone, I have an empty EF at the moment but I'm hoping that once I start my job in September I'll be able to clear bits left on my credit cards from last year's holiday and then build my EF up to £1k. I think that should be achievable, although after studying full time for a year there are a LOT of things that need paying for and things that need doing in the house.

I'll get there though.

Hope everyone has a sunny bank holiday weekend.

indigowarrior

230- Another £3.30 into the EF.

Treasurequeen

#223 Have finally got £1000 in my EF depending on whether I get anything unexpected come through. Which is why I needed the EF in first place just in case I needed it.:j

patman99

Well done treasurequeen.


Not had much to report of late. EF is bouncing up and down as I keep on top of my monthly outgoings.

System

Finally happy to report that we have £1000 in our EF. Thanks to OH getting a pension payout and we are spending it wisely.....saving to EF, putting some towards F&F's on our DMP and getting another car before ours finally gives up the ghost.

Charleyalmostking

tips for building up your Emergency fund whilst having a wedding & christmas to save for?

indigowarrior

Could you set up a sinking funds?

indigowarrior

I am going to aim for £500 EF. As that what Dave Ramsey Recommends for low incomes. Found 22p in an old survey account so have transferred that to EF now. That brings my balance to £76.11 including the cheque I am waiting to clear.