3-6 Month Emergency Fund Challenge!!

DreamerHelen

Hey [Deleted User] .... You're doing AWESOME!! I've Updated the First Post with your new Total....


Hiya LittleMissDetermined .... Sometimes we all need to give ourselves a kick up the bottom....I know that I certainly do, frequently!! I know you will get there....

mothernerd

#7 mothernerd redone my figures and decided to put £50 into the emergency fund.

This is the minimum amount I want to put in each month (not sure about December) so I should try from the start. The extra things I needed to cover were my annual line rental, renewing my passport and paying the final quarter of the water rates before January first. There are also a couple of minor purchases to make.

My son paid me a small amount he owed me. DS2 also paid back the final installment of the money he owed me from last year and according to today's figures I have/ will have enough to cover what needs to be paid by the time it needs paying. If something else crops up things will be tight but hoping I can improve things.

The_Only_Girl

Thumbs up [Deleted User] and mothernerd for your progress with the EF. We'll get there eventually. When Murphy comes knocking (ie Murphy's law - if anything can go wrong, it will), we have the EF to cover it and not go back into debt.

Dobbibill

#2 popping in with an update ........

Not fantastic news as the EF has dropped but it should prove worthwhile [fingers crossed anyway]

Interest went in so it went up but funds for a thorough service and a few little jobs on the car done so new total is £4089.13. I'm hoping that spending money on a service means I will get a longer life out of my car therefore not needing to replace it as soon. :money:

I see this thread is still growing day by day/hour by hour so a big welcome to all our newest members

DB

DreamerHelen

Morning All


I should be able to put another Fiver into the Fund this morning as I got paid today and had a little extra in my Bank....I just feel that this Fund is VERY VERY important....I don't want to have to rely on Credit for the rest of my Life or Family to help me out....I want to be able to say "Oh I've been made redundant/business not working out....well I can cover it for the next 3 months while I sort myself out"!!


mothernerd hun....I have Updated the First Post...you're doing really well so keep it going!!


The Only Girl hun.....You're right, building up this Fund means we CAN cover any eventuality without going back into Debt!!


Dobbibill hun....You are doing a spectacular Job, I'm really impressed....Keep it going!!


I'll pop back in later with an Update when I've put my next Fiver in!!

DreamerHelen

Well I put in another Fiver this morning....So I'm now at £15....It may not sound like a lot but I'm really pleased with it and how I'm managing to Save....For me it's better to put things in gradually...

DuranGirl

Hello Helen! Your challenge looks great. May I please join? Some time ago, I set up a standing order for £300 per month from my current account to my savings account on the first of the month, so I can't spend it. However, as I've been going through a looong divorce, the figures have been going up and down like a yo-yo while I've been paying solicitor's bills :eek: I'm nearly at the end of that malarkey now, but I have a sneaky feeling I'll be out of work come April. I'm aiming to save £6000 to keep me going for three months. I just need to check my savings account balance to see where I stand at the moment, and will report back, if that's OK?

dubsteppenguin

Opened a new savings account today ready for the emergency fund!

LittleMissDetermined

I coppered up all the change jars and found I had £34! I'm going to take this to the bank on Saturday morning and then I will transfer it over to my 3-6 month fund

Hope all are doing well

LMD x

black_cat

Thinking of joining you all but I need to sort out the maths first. Can't decide how much we need...