The £1,000 emergency fund challenge.

[Deleted User]

Just been having a month-end (well, almost) tally up of my budget and accounts and because of renegotiated tariffs etc I should be £41 better off each month from February 1st:j.

Before joining this challenge I'd be jumping with joy because I have some extra money I can spend on myself at long last (on just what many folk would consider necessities but to someone like me in so much debt are sheer luxury:o) or on some more interesting food. But I'm determined to stick to the austerity measures for as long as I can and put this 'saved' £41 into my EF religiously at the start of each month. Well, actually, I'll save £40 and give myself £1 as a treat:rotfl:

Thanks, patman, for the inspiration:beer:

29Found

Hi Can i join please?

I am currently on £126.18.

Progress will be slow as trying to overpay on my debts, but I don't like not having an emergency fund.

Thanks.

Kelxx

I know I'm late to the party, but may I join in please.

I have been putting £7.00 a week for the £1 a day for Xmas '15 challenge in an old Natwest Savings account, & haven't really noticed it going. :cool:

Well I have another old NatWest saving account with 0.11p in it & thought if I did the same for an E-Fund, I'm less likely to touch it. I just set up a weekly standing order for £7.00 to it starting tomorrow :j

So my total so far is No. ? - £0.11/£1000.00 :T

Eyebright

29Found wrote: »

Hi Can i join please?

I am currently on £126.18.

Progress will be slow as trying to overpay on my debts, but I don't like not having an emergency fund.

Thanks.

Kelxx wrote: »

I know I'm late to the party, but may I join in please.

I have been putting £7.00 a week for the £1 a day for Xmas '15 challenge in an old Natwest Savings account, & haven't really noticed it going. :cool:

Well I have another old NatWest saving account with 0.11p in it & thought if I did the same for an E-Fund, I'm less likely to touch it. I just set up a weekly standing order for £7.00 to it starting tomorrow :j

So my total so far is No. ? - £0.11/£1000.00 :T

Welcome both! Patman will allocate you each a number when he sees your post. We can't be far off 100 members now...fantastic stuff!


My plan is to scrape through the next 3 weeks and hope to goodness I have some money left over at the end to OP above the usual money I stick into my EF. This is a difficult time of year for me as have lots of birthdays, plus I'm trying hard to clear my debts...but I need a viable EF, so there!


Have just realised that my council tax doesn't go out this month, as we pay 10 months of the year. Yippee! However I'm sticking this at my debts this month, as I really need to clear them so more of my cash is available to survive with [if OH does indeed find himself out of work.


I've just started a diary too, to really help me to stay accountable to myself, and keep on track with my goals. Would love some company if any has a couple of moments to stop by, and if you diary too let me know, so I can have a read and hopefully pick up some good tips!


Kelxx- although not an official member of the £1 a day saving group I do stick away £30 a month (or equivalent to how many days there are), to save up for Christmas. I think it's a great idea, and I do read the thread every so often.

patman99

Welcome to our two newest mambers. It's never too late to join.

Simply_Saving

Hi


#44 checking in here. I've at last managed to put some money in to my savings account and so it now stands at £125. I was hoping to put in more but I've got more expenses than anticipated this month so it's better than nothing. If nothing comes up that ruins this month's budget I might even be able to add another few pounds here and there. The only bad thing about my savings account is that you can only pay in using a payment book (Nationwide ISA) so it's not a case of transferring money from my current account. Hopefully I can add the same amount towards the end of February plus a bit extra as there won't be any Council Tax to pay.


I'm hoping to have £300 in there by the end of February to give me a good head start but then it may slow down as I will need to start adding a little to my Christmas savings pot and will also need to start adding to the summer holiday expenses (including childcare) and the school uniform pots. My daughter is 9 and so leaves First School in July to start Middle School in September. The difference in the uniform costs is obscene. It's going to cost me a good £400 at least!! Ouch


N x

Kelxx

Thank you for the welcome.

£7.00 went across to Nat West today so my E-Fund so far is No. 83 - £7.11/£1000.00 :j

Debt_Free_Desires

Welcome to all the newbies on this challenge, great to have more moral support on board

After thinking I wouldn't have anything else to add to the EF this month I am really pleased because after my end of pay month tallying up I have been able to add the bits left over from my January budget.

EF total now stands at £153.60. (15.36%) :T

R2B

#68 here, slow progress but I'm heading in the right direction!

Searched the house and found 80p in coppers which I paid in at the bank much to the amusement of the bank cashier :rotfl:

Logged in to my old ISA and found £7.45 interest that I forgot I had If I regularly save into this account get a 1% bonus so I've set up a direct debit for £1 a month. At this rate it'll take me another 80+ years to reach £1000 :rotfl: so extra payments are a must where I can but at least this will get me started! EF total is £8.25!

[Deleted User]

Congratulations, everyone, on all your saving efforts:beer:. It's not easy is it?

It never rains but it pours in my world:mad:. Got back very late last night from funeral (very long and horrendous journey on my own in the dark both ways, on mainly unlit and bumpy/potholed country roads, driving OH's pride and joy car that I'm not used to) with a thumping headache. Opened food cupboard to get something to make myself a much-needed snack only to see signs that a mouse/mice had been noshing in there:eek:. The food is all very recent (I can't afford to stockpile food) and the cupboard is kept clean and tidy so this is a very recent visitor. Gave the shelves a good anti-bac clean and checked the packets etc. No sign of mouse droppings anywhere but plenty of little holes nibbled in plastic packets etc where it tried to get at the pasta/porage oats etc.

Might have to bin a lot of stuff(will probably cook the pasta and feed it to the birds) and need to fork out on some plastic storage containers to keep dry goods in, plus a couple of mousetraps today. Not really money I can afford especially as I need to replace a lot of the foodstuffs and getting to the end of every month foodwise on my meagre budget is a nightmare every time.

On the plus side, my car repair isn't going to cost quite as much as I was expecting:j. A printer to replace my dead one (if I can't get one off Freegle etc) plus the car repair should easily be covered by my EF so no real panics there. Thanks, patman:kisses3:. My hopes of adding the £40 a month I'd planned to save from recently renegotiated energy tariffs etc to my EF will have to wait for now. Mousetraps, storage containers and replacement foods are more important.