The £1,000 emergency fund challenge.

2goals2get2

Hi everyone

I would like to join this challenge, will help focus my mind on what I have to do in the next 10 months or so. I hope to retire at end of July or August 2020 but I need to pay off nearly 12000 in debt and get an emergency fund in place. If I am very frugal, it is possible!

First step is to give up alcohol except for special occasions and drop takeaways or eating out except for special occasions too. I have the princely sum of £36 tucked away in a separate account, so these are my starting points.

Jennyjue

Can I join please

2goals2get2

I'm starting off with a no spend day today. Packed lunch and walk to work and back. I need to resist the temptation to jump on the bus on my way home, that's £1.65 wasted!

I get paid on Wednesday and should be able to pay about 700 towards my debts. I'm going to focus on NOT using my credit card at all this month. I have vet appointment for dog however so might have to, which would put the debt back up again.

I will pay £25 towards my emergency fund on payday and then see how much I can add as the month draws to an end.

MindsetChange

I feel like I've fallen into "Treat Myself" mode again so need to focus better on both debt repayment and EF in Nov. Another £10 from $wagbucks, £5 from Prolific and just started with Qm ee (which i like as you can cash out any amount to PayPal)

#293 EF: 83.83/1000
Looking forward to hitting that 10% mark

amber03

Very long absence for me and EF not looking healthy at all. Back on it and determined to save,save,save. Will update asap.

claremylove

My £25 Direct Debit has come out this morning meaning that #232 has crept up to £352 :j

Slow and steady seems to be working!

IvysMom

Please can I join this challenge. I started my first ever Emergency Fund last week with £100 :j

amber03

No112, £72.23. Just transferred £50. Going to try and add weekly to it if possible.

2goals2get2

I have had to shell out for work related travel these last few days. I will get refunded at end of month but it leaves me short. Will eke out what's left as long as I can before I resort to credit card. Emergency fund is going to have to wait a bit.

Betharooni

£50 standing order gone into Emergency Fund account so balance now at £91.14.