The £1,000 emergency fund challenge.

LoveMyLife

#310 with a new update.

Have had a really frugal January. I've hardly had to buy much food as freezer and larder were filled to bursting before Xmas and family were a bit poorly so not eating as much as usual.

New amount is 800 / 1000.

MidsHollie

#304 checking in with £275. I'm thinking that once I get to £500, I might pause on the EF savings to really focus on the debt. Then pick up again at some point to get to £1000.

claremylove

Payday so my £25 direct debit has gone out. Now up to £427

Littlebigmoose

#270 checking in with £155

jaxsmar

£50.00 in the pot. Washing machine/dryer died on me in November and the TV packed up in December. Hits home about an emergency fund.

£50/£1000

Betharooni

Had to use some EF money in January and standing order credited yesterday so currently £55.99.

MindsetChange

Happy new year all
#293 checking in again for a much needed reality check. News of huge hikes in Overdraft interest (40%!!) and the fact that I have basically been living in my OD, led me to increase my total debt with a(nother) 0% CC. Not a lot has been going to EF but tiny amounts from surveys and cashback mean my total is now £122.48.

threepenny_bit

I have 400 in my Emergency fund currently and so set my EF at 1500.
Working on adding as much as I can from travel allowances,surveys etc. Even if it is only a tiny amount at a time

df-MRes_student

patman99 wrote: »

For the idea for this after listerning to the 'Dave Ramsey Show'.

The idea is to accumulate an emergency fund of £1,000 sitting in a Bank account just in case of emergencies.

You must not leave yourself short in order to reach your goal.


Hi patman99,
Can you add me to the list of challengers for the EF, please! Many thanks!

I'll be aiming for £500 initially as I'm focusing on saving in two areas and reducing debt too whilst studying and not being in paid employment. I'll then focus on aiming for the £1,000 goal.

Many thanks!

df-MRes_student

patman99 wrote: »

For the idea for this after listerning to the 'Dave Ramsey Show'.

The idea is to accumulate an emergency fund of £1,000 sitting in a Bank account just in case of emergencies.

You must not leave yourself short in order to reach your goal.

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This list is correct as of 23/11/19.

[purplesignup][/purplesignup]

If you haven’t already, join the forum to reply.

Hi patman99,
Can you add me to the list, please!

I'm aiming for an EF of £500 initially. I'm saving in two areas and reducing debt whilst being an unwaged student, so my income is very low. I'll aim for the £1,000 once the aforementioned is achieved.

Many thanks!

Best,