The £1,000 emergency fund challenge.

patman99

NLWY you are most welcome.
When I started this thread it was as motivation to myself and it has grown amazingly since.

I have been on a DMP with StepChange since December 2013 (after a 30-month long temp job came to a grinding halt).

Job-wise, I have been in and out of work up to March this year, when I started a low-paid (due to only being 32 hours a week) job that I love.
However, for the last 6 months of 2014, I was working 40 hour weeks for £8 an hour inspecting finished metalwork (very busy, but a good bunch of workers made the day go well). It was during this period (as a temp worker again) that I decided that an EF was a good idea and afer checking-out Dave Ramsay, decided £1,000 was an acheivable target.

Thus, the challenge was set.

6 months(ish) on, and my EF has reached nearly £100 before being raided for car repairs and other emergencies. Without the EF, I would have simpley reached for the credit card.

rising_from_the_ashes

Just a wee 'hello' from me .... I do read a lot (during lunch!) but can't log-in to post or thank posts so it must look like I'm ignoring you all .... I'm not!


Seems to have been a quick but long month

On the plus side, the pets EF is growing fairly well there's money coming out every month (one of my pets has an ongoing condition) but it's moving upwards so that's good!

On the proper EF .... well, I'm nearly to the point of having enough for the house repairs so I guess that's good .... just sad to know it's going to crash back down again

Sorry to all those who are having car issues .... them & houses really do seem to be the bain of our lives!

parsniphead

Another £5 for me today. I nearly spent 50p on toast at work so dice ded to fine myself a fiver. Especially good as I'm trying to loose weight.

Dobbibill

#45 checking in again with another monthly payment so grand total of £350 in the EF.

Well done to everybody who puts funds in their EF week after week and month after month. You are all doing so well, it makes me proud to be part of such a motivational thread. :T :T :T

DB

PollyPrissypants

Hello! Please can I join you all? I'd like to build up some emergency funds so we don't dip back into the credit cards whenever a crisis is looming. Would I be #107?

takingcontrolatlast

I'm off ! Ive put £10.00 into the EF today and probably wont be able to top up now till next week (pay day) - roll on next week !!

NoLifeWithoutYou

I know it wasn't much but I had £25 EF already and had to dip into it! For a second hand slow cooker (cookers broken) and we need something to get by. On top of that also found out I owe £500 to O2 for a previous phone I had when I was 18! Snowball'd things up again, should be payed of by Jan 1st

takingcontrolatlast

stay positive and ouch to the phone bill :eek:

NoLifeWithoutYou

takingcontrolatlast wrote: »

stay positive and ouch to the phone bill :eek:

I am, just annoyed that I was hit with it and a friend who owe's me over £200 is avoiding me. Not even asking her to pay it back in full either. Anyway how are you lol

** Edit, she paid some £50! So we're up to £64 emergency fund!

parsniphead

Evening everyone

I seem to be enjoying this challenge as I have saved another £5.35 today. It was what was left in my account before pay day at midnight tonight. I was going to pay it off a debt but decided I really want to get more into the emergency savings. Anyway all the monthly payments will be going out to the debts tomorrow.

So far I'm at £22.71. As a very bad saver this is good for me in a week. If only I could do thi s every week I would have £794 by the end of the year.