The £1,000 emergency fund challenge.

Thistimearound

Transferred £5 across to EF making my total £300/1000. It's creeping up gradually

MrsD18

Thank you for starting this all those years ago Patman, you are an inspiration and it is really good to see how things can turn around!

I have been struck down with a virus and have had very little motivation this week, only added a few pounds so I am up to £556.49. It is amazing how quickly a few pence here and there really starts to add up!

ditty1234

Can I join please due to over stretching my EF is gone, and it is really stressing me out. I am down to my last £10 again, and it can't keep happening.
So I am starting w a big sad £0/1000

patman99

Welcome to our two new members.
#305 candiii
#306 ditty1234

ditty1234

Hi Its me back already:
While what I will mainly be reporting here is my EF but before I start I will tell the whole story:
I now have 3 savings account in one bank and one in an other bank. The 'other bank is where sale from FB etc goes and is my pretend holiday account. But I just had to empty it as I have to get gas to go to work tomorrow.

I left 0.60 on the account, but Ideally I would like to add £5 for each day I work in my supply job as I need money for a family trip next summer and next Christmas.

My new account today is a Isa help to buy account - and I will try to put £10 in it a month - I won't get a mortgage anytime soon or ever, but it doesn't hurt to try.

Additionally I've got an everyday saver - this needs to be my budget account to save up for bigger bills and upcoming stuff. It worked over the summer, but then my car ... and other things.

Last and best is my EF where I put £50 in on a transfer every month, the trick is to not touch that money - otherwise I might just as well leave all in Current account. I will try the trick with moving over pennies when I remember - I am just suspecting it might be better if my savings was with an other bank - so I don't see the money all the time. The idea is to have more of a buffer so I don't live hand in mouth.

Any ways good intentions. I just ut £1 in each account for good luck and still have £10 for gas.

SO EF is now £1.08.

amber03

No 112, EF currently standing at £272.00. Not sure how it will go the next couple of weeks. Will be glad for the new year for everything to calm down financially, then really hit the saving button.

ditty1234

Rounding up to £1.62!

aimeemum

amber03 wrote: »

No 112, EF currently standing at £272.00. Not sure how it will go the next couple of weeks. Will be glad for the new year for everything to calm down financially, then really hit the saving button.

This is how I feel right now. I always write December off a bit anyway as it's an expensive month of visiting family, buying gifts, extra food and drink for entertaining etc. As long as I don't make things worse I'll consider it a win and then I can hit the ground running come January!!

MidsHollie

I added the £55 that was left in my account prior to my November pay arriving to my EF, making a total of £105.
I wont be able to add any thing this month - every single penny is budgeted after having to pay for a couple of big things. Hopefully come January I'll be a ninja and be able to add a fair chunk to my EF. I'm sooooo looking forward to having £1000 sat in an EF, and then budgeting every pound towards annual payments, debt etc,and not even have to think about using credit. I reckon it will take me at least 6 months to get to that happy medium where I have all my annual expenses planned and saved for, and I'm paying down as much as I can on my debt without the need to even think about using new credit.

claremylove

Number 232 is reporting in that another £25 has come out of my account so my EF is now standing at £377. Building nice and steady:T