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3-6 Month Emergency Fund Challenge!!

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  • Savvy_sewing
    Savvy_sewing Posts: 11,580 Forumite
    Part of the Furniture 10,000 Posts Photogenic Rampant Recycler
    Well I cashed in a silly pension, saved like the clappers, and raised £8,000 last year. However my son got into dire straits and I have ended up bailing him out and getting myself into credit card debts. £13,040.72

    So it's all a big mess.
    I am currently on holiday with my mum, but when we return to the UK I will be using the savings to clear some of the credit card debts. Unfortunately I will still have masses of debt.
    I shall probably not be able to start to save again the beginning of the year anyway.
    I have £670 in an ISA so I will leave that as my emergency fund for now.
    But I will dip back in once I sort out the debt.
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
  • Dobbibill
    Dobbibill Posts: 4,194 Ambassador
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    Mooloo wrote: »
    Well I cashed in a silly pension, saved like the clappers, and raised £8,000 last year. However my son got into dire straits and I have ended up bailing him out and getting myself into credit card debts. £13,040.72

    So it's all a big mess.
    I am currently on holiday with my mum, but when we return to the UK I will be using the savings to clear some of the credit card debts. Unfortunately I will still have masses of debt.
    I shall probably not be able to start to save again the beginning of the year anyway.
    I have £670 in an ISA so I will leave that as my emergency fund for now.
    But I will dip back in once I sort out the debt.


    Hi Mooloo,
    Thanks for the update. I will release your number on the part 2 thread for the moment.

    Feel free to rejoin later in the year and you'll be given a shiny new number. :D
    All the best with the debt busting.
    Dobbi
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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    Just be better than you were yesterday.
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