The £1,000 emergency fund challenge.

patman99

Just applied for my dream job and what's more, the guy advertising it prefers to put people he knows forward for the roles his recruitment company has to fill. Luckily, thanks to the 'Colchester24' project, I happen to know him. So fingers crossed that I will get an interview.

Anyway, Zopa is certainly not for those who need rapid access to their money. It is more of a 'make the best returns on your investment' sort of thing. The rate of returns is much higher than the Granny bonds that have just been launched.

andyfromotley

Hi all,

another £25 courtesy of the car tax refund. Its amazing the peace of mind having an EF produces. I'll update my sig in a bit.

andyfromotley

Good luck with the job i/v pat man

sophieo16

Hello all,

I finally have an update now payday has arrived! I was lucky enough to earn a bonus at work this month, which doesn't normally ever happen. so all of it has gone into the emergency fund.

no. 60 total= £786.79/ £1000

Im over the moon with this total. I will be adding any eBay sales and loose change to it, whilst using any left overs from my wage to keep decreasing my family debt!

Well done to everyone, you are all doing so well!

Sophie

Stereochild

No. 62 still going down £120/£1000
Hoping March will get me back on track with all my financial goals.

Bobarella

Another £180 is destined to hit the pot this month. I had to borrow £100 back again from the £500 I had saved as we've just had an expensive month. So hoping I can hit £600 this month anyway.

Debt_Free_Desires

#24 checking in with an update

Following the end of pay month shuffle I was just a few pounds short of adding an extra £50 to the EF ...... Decided to take the plunge & take those £s from next months grocery budget
£50 add

EF total now at £214.18 (21.41%)

Still slow but steadily seeing my EF rise.

Pat man good luck with the interview this week.

patman99

Got another potential interview lined-up as well. Nice to see so many folks taking the challenge of the £1k E/F.

It is also interesting to see that so many have had to dig into their EFs to cover emergencies. By having the money there, it saved a lot of financial problems.

stiltoncheese

#38 checking in. First time I've managed to get on here since my daughter was born 6 weeks ago. Been a bit manic since, juggling her and my crazy toddler son.

Anyway, emergency fund is currently at £575. Hoping to add £125 to this on payday to get it up to £700 but we'll see. I'm on maternity leave so not sure how much spare cash I'll have to move over yet.

Bobarella

Congratulations Stilton! We missed you on the small things thread. Glad to see you back.