The £1,000 emergency fund challenge.

so_very_confused

Congrats on being debt free Stereochild:j:beer::j

svc

Stereochild

Thanx SVC - This is the second time I have gotten debt free but this time I want to stay debt free.
I am hoping to get a mortgage later on this year but I feel that that is okay debt.
How are you doing with your Emergency Fund?

rising_from_the_ashes

Stereochild wrote: »

Thanx SVC - This is the second time I have gotten debt free but this time I want to stay debt free.
I am hoping to get a mortgage later on this year but I feel that that is okay debt.

Congratulations! :j

I've done it twice too

I do feel there can be 'good' debt as Martin says - eg I changed car last summer & was going to pay for it BUT there was a £1k contribution towards it IF I took finance ..... I took the minimum amount allowed & paid it off after 4 months ... hated it not 'being mine' but it would've been silly to pay the extra when I didn't have to! :money:

rising_from_the_ashes

Finally payday! :j

£25 shuffled across to the EF account so up to £380.85

A bit of a shame the money I'm putting away just now is going to have to go to the house maintenance BUT it should hopefully mean I'm not going to have to decimate my other 'pots' to pay for it when the time comes :T

There's £125 sitting in my 'house & car' pot (which is really more house atm as car servicing is paid for 3 years & I have 3 sets of tyres for it so shouldn't need those for a while! :rotfl:) but my advance line rental is due at the beginning of May (£150) so really don't want to have to raid that or I'll then be back to the 'rob Peter / pay Paul' roller-coaster :eek:

Very thankful the EF is there :T

Love this challenge

[Deleted User]

Feel very motivated when I read of people's successes in becoming debt-free:beer: or adding to their EFs in all sorts of ways.
Well done, all:T.

The payment for my week's delivery work hit my bank account overnight, so that's £176 to add to the EF (and believe me, I earned every single penny). Have also rounded it up by doing a small Tilly Tidy (the first for months:o) of £24. Might be pushing it a bit by not leaving this as a carry-over for April's groceries and fuel etc but its a great feeling to transfer a round £200 to the EF:j

Total now building up again after recent car troubles and stands at £390.

CountingPennies

Back to saving! Holiday over. Had £81.37p spending money left over so have transferred it before I waste it! Good to finally have some money in my EF after having to use it all for the bathroom a couple of weeks ago.

CP xx

[Deleted User]

That's a good amount of planned spending money left over, CountingPennies. Well done on not splashing out and using it all:T. Holidays can do funny things to people's normally careful spending habits:eek: I hope you had a great time.

lazer-zxr

£107.97 ..... a long way to go, but the right thing to do to save me having to raid other pots of money when in need!
Now planning £50 per month to go into this pot.

eveie189

No. 97. another £10 in the EF today. hoping to try and pay something even if its a £1 or so every day. Like alot of you I am on a DMP so this is a great fallback for those little (or usually big in my case) emergencies.

Stereochild

rising_from_the_ashes wrote: »

Congratulations! :j

I've done it twice too

I do feel there can be 'good' debt as Martin says - eg I changed car last summer & was going to pay for it BUT there was a £1k contribution towards it IF I took finance ..... I took the minimum amount allowed & paid it off after 4 months ... hated it not 'being mine' but it would've been silly to pay the extra when I didn't have to! :money:

Hey Ashes - if you see a good deal (like you did:cool:) you'd have to be crazy not to take it up. It is nice to use the system instead of being used by the system!!! :rotfl:

Congrad's on your second time debt free too! :beer:

Doesn't it feel good to own all of your wage and to know that your networth is rising and not stagnating. :j:j