The £1,000 emergency fund challenge.

patman99

It's nice when that happens.

Bobarella

Horray for you - So Very Confused. Nice to have good luck isn't it.

I am looking forward to being able to make the next payment to my EF.
In Feb and March we have no council tax to pay so that frees up £136 each month. Due to us arranging different life insurance policy we don't have to make payment at start of Feb. That is £92.
Our home contents is due for renewal in Feb. So I hope to pay for that outright. It's only about £90 from looking at comparison sites. So my sort of plan is to save all but the whole annual premium for that insurance. So that's £364 less the £90 = £274. Plus the £100 a month we are auto saving by DD so hopefully a whopping £474 added by end of March. Plus the £200 we already saved £674 Which would put us at 67% of our £1,000 target by then. I am going to be bold and aim for June 1st to complete this challenge. But that is only if we have no emergencies before then!

Dobbibill

Bobarella wrote: »

Our home contents is due for renewal in Feb. So I hope to pay for that outright. It's only about £90 from looking at comparison sites.

Is this also going through TCB or Quidco? If not maybe you can save more money there to help with the EF :T

patman99

Got £36 coming from TCB. That will be going in to my main account to keep that running.

rising_from_the_ashes

Ohhhh can I join please?

I've finally cleared my debts once & for all (a few relapses on the way:o - often when I needed to use the OD / c/card for repairs as I had no emergency fund!)

I did start trying to build an emergency fund a while back but it keeps getting used for things like vet bills so really need to do it properly this time!

My boiler is getting pretty ancient :eek: (which I don't want to think about too much!)

Can't afford to put a lot away as not got huge amounts left once everything is paid and I've actually budgeted properly and put amounts away for other things!

I'll be in for the long haul!


Quite like the idea of cashback monies going towards it so will look into that (due £35 for taking insurance - must chase that up!)

CountingPennies

Well savings back down to £10. Unexpected school trip to pay for and don't wanna loan any money for it when I had a little bit saved up.

Will update sig

CP xx

rising_from_the_ashes

Well, after checking through my savings pots, I have one that's not been used for ages ..... aptly called ..... savings :rotfl:

Sitting with a whopping balance of £3.77 in it, so I'll start off with that!

Bobarella

Dobbibill wrote: »

Is this also going through TCB or Quidco? If not maybe you can save more money there to help with the EF :T

I was going through TCB. I didn't Think about that though. Doh!

newpennypincher

Please can I join your challenge too? I've had a few good sales on Eb*y this weekend and have transferred £10.00 into my online savings account. I have no savings whatsoever and I don't like it

Bobarella

I have figured out another £37 that I can save towards the emergency fund now. It's my former bus budget but we started cycling after getting our son a bike for Christmas and although it's an 8 mile round trip for him (and 4 miles each for husband and I as we do morning/afternoon each) we are all enjoying it so I'm taking that budget back.