The £1,000 emergency fund challenge.

patman99

Well done ploppy57.


Saving for a wedding and christmas as well as an EF will take some doing.


I would suggest that you set a limit of £25 per person for Christmas (and for their birthdays as well). It may sound mean, but we started to do this as a family years ago. It saves trying to out-do each other.


As for the wedding, indigowarrior's idea of sink funds are a good one.
Work out how much you want to spend on a dress, venue, catering etc. and start building up each pot.

Charleyalmostking

thank you for your tips .

With the wedding, we both agreed to split our overall budget of £5,000 so we'll both be saving £2,500 each. I don't need to worry about my dress or shoes as I've got those sorted already (£40 for dress & £5.00 for shoes). But I'm depositing £150 each month and extra when i can.

The Emergency fund , I'm going to put £100 each month & whatever is in our piggy bank will go towards that.

Christmas - I was going to put away £100 in July & £100 in august to make it up to £300 and stick to that.

I'm doing a lot of overtime and have already been able to put £100.00 in emergency savings and £100 away for christmas.

I'm not too fussed with the wedding as long as I put some money in there.

Next year, I am going to put £300 away in the first few months so it's already saved so I can concentrate on the other savings.

________-

£100 in emergency fund

I did try to take whatever was in our piggy bank to put in the saving account but the bank closed early.

System

Hey. I!!!8217;d like to join too! Aiming for £2,000 by the end of the year. I calculated that if I save £82 a week for half a year (say starting in August) that makes for 2 grand end of the year. Starting early from the 21st (payday) and will see how it goes.

Missymae0

Another £100 added to my emergency fund today.

#258 £700/£1000

patman99

Welcome to Sweetcake, our 278th member.


Not much to report this month. Not spent much for once. Only 6 days to end of pay month and 10 to pay day.

[Deleted User]

Nice not to have had any major spends, patman:T. Lets hope the rest of June goes the same way for you:beer:


My MOT is due in mid July so I'm planning to get a service done sometime soon in readiness. Since I bought the new battery in the winter there seems to be no obvious problem with the car but I suspect I may be ready for brake pads and I know one of the tyres is on it's last legs, although still legal. Cue for some spending but a reliable car out in the middle of nowhere like this is an absolute essential:(


Sorry I don't drop in so much these days but I hope everyone is doing well with their saving and enjoying the better weather:beer:

patman99

Well, apart from spending £103 on a garden shredder and a Ryobi One+ area light when visiting a branch of Homebase that is closing down to become a Lidls, my spending is (almost) under control.


Just got to break my addiction to the snack van goodies and I'm done.

Missymae0

Another £150 added to my emergency fund today.

#258 £850/£1000

Missymae0

Another £250 added to my fund today taking my total to £1100

#258 £1100

LittleMissDetermined

Well, my emergency fund has sat at £1000 for a while now but alas no longer... £200 used for replacement fencing today so down to £800 in the pot.

LMD x