The £1,000 emergency fund challenge.

PositiveBalance

Hello everyone (especially @patman99)!

I've been away a while. I had a dental emergency that completely whittled away my EF on a seriously expensive toothy proceedure, but thanks to some generous brithday presents and saving up. I have managed to replenish my EF back to £1000. In fact, it's technically a little above that, but given that I'm bound to be spending that soon on some things that need doing round the house, I won't count it for now.

#187 PositiveBalance: £1000 achieved again!

Fidelia

Just popped in to say how glad I am that the challenge is still running.  Not only that but it's gone from strength to strength.  I remember at the start, patman, that you wondered if it was possible to get 100 participants and look at it now!  Just goes to show what a good, relevant challenge it is, especially in the current difficult times.

I never joined or posted but read avidly from 2014 (I think it was) for over 4 years.  I was drowning in debt at the start and had just started on a DMP. I had no lines of credit, all my appliances ,car etc were ancient and needing constant repair.  Following the example of all the lovely posters on here I managed to find ways to scrimp together a little emergency fund.  Never as much as £1000 but a lifesaver whenever I had vet bills to pay or something electrical blew up or died.

Now debt free for the first time in my life (in no small measure thanks to a huge PPI mis-selling payment)  and I swear to myself that I'll never be in debt again.  Famous last words but I've managed to stay out of trouble for well over a year now and love the novel feeling of freedom it gives me.  I don't need to save a EF now as I have savings to cover most eventualities (thanks to banking what was left of the PPI money) but I'll never forget those bad old days and the advice and wisdom  I found in this thread.  I'm still with you all in spirit.

Good luck and stay safe.

Wolfsong12

Popping in for a quick update. Last year was challenging for my emergency fund as I was prioritising debt payment so only putting a small amount aside each month and several times had to use it all up in an emergency - what it is for after all! So here we go again

#313 £75/£1000

Starbrite

Why thank you Mr Tax Man, just received a tax rebate so this has gone straight into the emergency fund

£628.97/1,000

Starbrite

Just paid £30.00 into the pot

£658.97/1,000

aimeemum

#288 checking in- Been away for a while and done some major moving around. We have managed to add to our savings quite a lot but it's been allocated into Sinking funds as we've got a lot of expenses coming up so I've decided to 'start again' so to speak with my EF and challenge myself to gather £1k in cash to have as a true Emergency fund. I currently have £10 in cash in my envelope (and a nice shiny new tracker) and £20 ready to be taken out of the hole in the wall and added in on Friday when I head into town. 

In order to fund this new challenge I am: 
Taking daily pennies and stashing them in a pot on my banking (in January I've stashed over £20 this way!)
Selling some things on ebay/marketplace as I normally do
Adding any personal spending money I don't actually spend. 
Any cashback, extras, gifts or vouchers I'm translating into cash and adding it to the pot.

I am also still on the DFW bandwagon and paying off the last straggly few £s of debt is taking a lot of willpower. I hope that once that's done (aim is July/August) I can start making regular chunky payments to it and it should then build up a little bit quicker. 

Starbrite

Another £12.00 paid in, only £329.03 to go!

£670.97/1,000

ditty1234

Hi I just want to report that my e fund is now £650 after completely emptying it in October to pay for my citizenship, my citizenship has gone through, just waiting for paperwork, I have managed Christmas and I'm back with a bit of a buffer. I also have £450 in my housing deposit fund, and once I have £1000 in my e fund, I will focus on my housing fund, the target there is quite a lot higher, but in a year or two - who knows. All I wanted to say was that technically I will have over £1000 in the bank at the beginning of February, so am very proud of that. 

aimeemum

#288 - Another £20 added to my envelope as promised. Almost up to another £10 to take out next week too  
Currently at £30/£1000 = 3%

amber03

No112 slow transfers over but now stands at £83.00.