The £1,000 emergency fund challenge.

so_very_confused

Hi RFTA

I completely understand the need for separate ef for the pets. My cat has eaten huge chunks out of my budget during the past few months and another £75 this month....oh well.
I need a separate ef for a new (old) car as my current rust bucket won't last me too much longer so I am aiming on a first £1000 then hopefully continuing for proper ef. Unfortunatly emergencies keep getting in the way but at least I now have one:)

Buffythedebtslayer

Hello,


RFTA, I have the following savings accounts,


1. car (260) for insurance, tax,


2. Pets(150) for vets, flea treatment. (must say will always have a CC for serious ops for the small pets and dogs have insurance)


3. August - in theory an account for the summer, normally used to save up for "wants" not needs.


4. Clothes - 50 quid a month.


5. ISA - proper emergency fund.


It has taken about a year and a half to train myself to save first and not fritter money away.....now I am properly debt free I feel very protective over my little pots.


oo I came to update, the ISA has 500 quid in it. at the half way point.


xx

[Deleted User]

Sounds like a very good idea, rising from the ashes. However we save can only be a good thing.

Did a table-top sale yesterday and was going to transfer the money I made, plus a few other amounts from other little sales, straight to my EF next week to kick-start my savings again after all the car expenses I've had to raid it for. Now OH says he thinks my car has an oil-leak:eek: so that will need attending to asap. Cars! Seem to be a constant drain on my savings lately:mad:. Living in such a rural area it is a lifeline, though.

I have a cat (just the one now) and so far his insurance (the first cat I've ever insured) has helped a lot when emergencies arose, although I still had to find the 'excess:('. I certainly sympathise with your pet concerns.

CountingPennies

Added another little £2.82 last night bringing my total up to £189.99

CP xx

Kelxx

Hi, quick update,

£10.00 went across to Nat West today so my E-Fund so far is No. 83 - £40.00/£1000.00 - 4%:j

Hadalbm

Hi.
Can I join the challenge please. For years I've kept promising myself that we would save an emergency fund but it just doesn't seem to happen. I even have a savings account that's named as such but it has a grand total of £10 in it at the moment ! I think joining this challenge would inspire me

rising_from_the_ashes

rising_from_the_ashes wrote: »

Wondering if anyone would think I'm completely silly if I have 2 EFs

I've been really wanting to get a decent sum of money put aside in an account for the pets vet stuff - big insurance saga with the company pulling out / new one charging a fortune etc (won't bore you with it all) which has now left me with just accident & injury cover for the dog so really need to get a proper fund set up

Small vet bill to pay - money transferred from pets EF :T

Balance now £90.95

See - that would've had to come out my 'real' EF if I'd not done this - chuffed now

patman99

Welcome to member #92, Hadalbm.

Extremely pleased to see so many folks actually having an EF in place for when those emergencies occur.
Having spent £90 of mine getting the car through it's MOT, it is now time to build it back up again.

Hadalbm

patman99 wrote: »

Welcome to member #92, Hadalbm.

Extremely pleased to see so many folks actually having an EF in place for when those emergencies occur.
Having spent £90 of mine getting the car through it's MOT, it is now time to build it back up again.

Thank you for the welcome Really excited to get going with this challenge

patman99

Had a start-date for the new job through today. well pleased.