3-6 Month Emergency Fund Challenge!!

Savvy_sewing

I have had to put my savings on the back boiler as I had to help family with their rent lately.
But I think I need to start all over again!
Or I will not be having any security blanket behind me and that is a scary thing.

Dobbibill

#2 update

With my focus firmly on my new target, here's my new update.....

New total £5601.11 aka 93.35%.

Plodding onwards and upwards. I can almost taste my goal
Keep on keeping on everyone

Dobbi

166million

I think the new job got on top of me, I haven't been on the site since April.
Fund has taken a battering unfortunately, is it ok if I come back with an update and my tail between my legs?

Dobbibill

166million wrote: »

I think the new job got on top of me, I haven't been on the site since April.
Fund has taken a battering unfortunately, is it ok if I come back with an update and my tail between my legs?

No tail between the legs allowed but you can come back with your head held high because you acknowledged what went wrong and are about to put it right.

Welcome back 166 - hope the new job is not too much and you are adjusting slowly.

Dobbibill

I hope everyone is OK and looking forward to autumn.....it's well and truly here.

Helen - how ya doing? I hope you are in good health and managing to fund that pot a little.

#2 update - just a small addition but every little helps.

new total £5617.84 aka 93.63%

keep on keeping on

Dobbi

skye_blue

Hi everyone

U ok helen

Please add £170 to my pot (£1611 now)

Sorry for the slow updates but i keep needing to reset my passwords etc, anyhow its done again now

Keep warm now the colder weather is kicking in

lindez

Hi Everyone
#100 Please add £200.00 to my emergency fund it is now at 7% £420/6000
Hope you are well Helen.
Thank you x

[Deleted User]

103) Deleted_User - GOAL: £7000 CURRENTLY:£0/£7000

So I decided to clear out my savings to pay towards my debt as I just want it gone ASAP.

103 will be back in 2019 to re-focus on my emergency fund.

Dxxx

Chandelier.

Hi!

I've decided I'd like to join this thread to motivate me more towards building up an emergency fund for any unexpected costs in life. What this entails, I don't know but I want to set the target low at first and build upon it where possible. As I reach each target, I will then increase it until I am satisfied with what I have and it shall then be there for when needed.

I have already started saving into this over the past couple of months so I'm already on my way.

To start with I'd like to first aim for an emergency fund of £1000. I set aside £100 per month to go towards this so at a minimum I should save £1200 a year if I stick to it; any extra will be a bonus.

I'm quite lucky in that I still live at home so most of my outgoings are low compared to others but I want to be prepared for when I fly the nest. I am already saving for a house deposit but that's a seperate saving altogether.

Maybe this fund can be used for when I do leave home and I will have all the initial outlay/costs to pay when buying a house. I will be starting from scratch and have to buy all the essentials needed to make a place feel like home and plan ahead for monthly bills.

So as of right now my emergency fund stands at £200/£1000.

So it's off to a good start.

I'm going to set myself another challenge within this to have £500 in this account by the end of the year. I shall then let it build up accordingly through a monthly standing order and put any extra money towards it where possible. Along the way I shall set myself new challenges where possible and review it on a quarterly basis.

On another note, I also have many other saving funds that I contribute to each month so this is just another challenge. The more, the better in my opinion. I will find ways to save money and spread it across all my accounts to make it fair so some months may be more/less then others.

As long as I'm saving, that's all that matters .

Dobbibill

Chandelier. wrote: »

Hi!

I've decided I'd like to join this thread to motivate me more towards building up an emergency fund for any unexpected costs in life. What this entails, I don't know but I want to set the target low at first and build upon it where possible. As I reach each target, I will then increase it until I am satisfied with what I have and it shall then be there for when needed.

So as of right now my emergency fund stands at £200/£1000.

So it's off to a good start.

As long as I'm saving, that's all that matters .

Hi Chandelier,


Welcome aboard :hello:

When Helen pops in she will add your target and progress to the first page and give you a number.

Keep us updated with how things are going, we'll be all cheering you on from the side lines. You're already off to a great start and good luck saving for when you fly the nest too

Dobbi