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The £1,000 emergency fund challenge.

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  • MrsD18
    MrsD18 Posts: 17 Forumite
    Fourth Anniversary 10 Posts
    I feel like a fraud now as it is only because my husband has received a Christmas bonus that we have been able to use, but my emergency fund is now at £1000!

    Still counting it as a success though as previous to this we would have just frittered it away, so thank you for this challenge

    Now to move to Dave Ramsey’s 2nd babystep and start making a dent in the £7000 of credit card debt we have!
  • #300 reporting in with £50 standing order added to emergency fund so balance now £141.14. Signature updated.
  • Hi can I join?

    I had an ef fund but due to car dying Iv used it for that and to keep me going through summer as I'm only term time work
  • Hi, EF now stands at £314.16/ £1000 :)
  • Naomim
    Naomim Posts: 3,130 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I'd like to join please. I have no emergency fund but I'm paying off debts too so it might be a slow process.
    Credit Cards NOV 2019 £33,220.42 Sept 2023 £19,951.00 Tilly Tidy 20223/COLOR] Sept £43.71 Here's my diary: A Ditherer's Diary Again
  • patman99
    patman99 Posts: 8,532 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    Welcome to our two new members
    #307 MoneysavingmadGem

    #308 Naomin


    MrsD18, don't think you are a fraud for using your husband's bonus to fill your EF. I have done something similar in the past.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • Sancti
    Sancti Posts: 34 Forumite
    Ahh I was looking for a thread like this! I have planned my finances to include saving for a "buffer" as I currently have absolutely nothing as an emergency fund. I've set mine up in £5 increments but my goal is £1000. I'm on a low income so it will probably take me a while, and I have several things to save for plus debts to repay but I find it very stressful having absolutely no savings. I had actually almost totally repaid my debts then had to rely on a credit card for 2 household emergencies, and I can imagine that cycle repeats unless you break it!

    Please sign me up for a number :)
    DEBT: £0/£2235 (0%)
    Savings: 1p Challenge: £46.57 / VSP: £91.48 / Christmas 2020: £44 / Buffer: £0
    Baby Due: 20th Jan 2020
  • Can I join this challenge please. I will start my £1,000 Emergency Fund saving in January 2020.
  • ditty1234
    ditty1234 Posts: 2,121 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Hi EF stands at £55.53 I am hoping it will be surviving January. I put in £50 every month and I have started rounding down my current account into the EF. Thats the £5.53 so every little counts.
    Isa help to buy: 1000/3000 33%
    Emergency fund: 100/1000 10%
    Weight loose 8.6 kg - while having fun. 0/8.6 0%
    Focus debt to clear HSBC £10/1111, 0% updated May 25
  • patman99
    patman99 Posts: 8,532 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    Welcome to our 3 newest members -
    #309 Sancti
    #310 LoveMyLife
    #311 Ditty1234
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

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