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The £1,000 emergency fund challenge.

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Comments

  • ceremony
    ceremony Posts: 241 Forumite
    Third Anniversary 100 Posts Name Dropper
    edited 14 July 2020 at 1:39PM
    #324 checking in. I'm up to £44. Slow progress, getting paid late this week which is frustrating, but getting there :)
    @PositiveBalance - congratulations!
    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
  • A_Random_Man
    A_Random_Man Posts: 1,167 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Due to a family emergency I have had to dip into the fund by quite a bit so now am at £223.57, I am disappointed that I had to dip into the fund but that's what it is there for 

    Mortgage Amount Outstanding £116,682.20
    2025 Mortgage-Free Wannabes #49 £1401.29/£1,250 (104.74%/100.00%)
  • patman99
    patman99 Posts: 8,532 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    That is what the EF is for. You had a family emergency, so instead of having to borow money or make yourself short, you were able to use the money you had put aside for just such an emergancy.
    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)

  • ceremony
    ceremony Posts: 241 Forumite
    Third Anniversary 100 Posts Name Dropper
    Due to a family emergency I have had to dip into the fund by quite a bit so now am at £223.57, I am disappointed that I had to dip into the fund but that's what it is there for 
    I hope the emergency is sorted! It's good you had the funds to draw on. Hopefully it won't take long to build them back up!
    #324 checking in, up to £50 now. Slowly getting there.

    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
  • ditty1234
    ditty1234 Posts: 2,119 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Hi I do have my EF - but as it's all dedicated to a specific purpose I had to save up for - and I can only really save for one thing at a time. So I'm back at £10 which is me getting started on a new fund before the other one is gone, so I am feeling quite smug being that organised. I also now have my housing deposit as an extra EF and it has over £200 in it, but I don't want to count it as it's for the long term. 
    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
  • A_Random_Man
    A_Random_Man Posts: 1,167 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Quick update EF now at £256.24

    Mortgage Amount Outstanding £116,682.20
    2025 Mortgage-Free Wannabes #49 £1401.29/£1,250 (104.74%/100.00%)
  • #319
    Having my start my EF again as got wiped out with building works, now at £26
  • ceremony
    ceremony Posts: 241 Forumite
    Third Anniversary 100 Posts Name Dropper
    #324 checking in, up to £68 now. Creeping up.
    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
  • ditty1234
    ditty1234 Posts: 2,119 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    EF is now £13
    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
  • Betharooni
    Betharooni Posts: 480 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    edited 5 August 2020 at 6:38PM
    #300 reporting with EF of £450. Will be halfway there next month and have budgeted that I should exceed £1000 before the end of the year.
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