3-6 Month Emergency Fund Challenge!!

WantToBeSE

Hi All, it's just me
I am still on board with this, but money issues are a bit up in the air at the moment, so haven't managed to save anything so far.

Christmas is now done, i just have to budget for £80 in petrol to get to Mums and back (She lives in Kent, i live in Cornwall).

January's 'savings' will mot likely all be used up in paying off my CC statement.

My son is applying for DLA (i am applying for him as he's under 16) so if he gets awarded that, it should help enormously. He has so many extra needs (he has ASD as well as severe Anxiety, Generalised anxiety and symptoms similar to psychosis) and it can get expensive! CAMHS, his Psych and SS have all said that i should have applied months ago, but i didn't know what he would be able to get. So fingers crossed for that.

I am now on a strict 'no spend' mission until January

crimson.addict

Thank you

I really need to sort my ISA out, i haven't done it in a while so i need to see if there's a better deal than what i'm getting!

lincs1205

Hi everyone I would really like to join this challenge however I think it will take longer than 3-6 months to save mine and dh combined wages but in it for the long haul. Going to concentrate on the ef for £1000 first then that one as well as bashing my debts. Well done lexibubbles.

lexbubbles

Okay. I've been doing my sums.

Now that my ESA rate is as it should be (higher than before) and I don't have to pay off any debts I can divert £45 a week into my fund and continue living frugally - although on a more reasonable allowance than I was before :eek: - starting at the end of Jan. Although I'll put £400 over at xmas from a double-payment*

That combined with the proceeds from my 52-week savings challenge (currently the 50p version but when that finishes in November I'll start at £1 in December) which will be £712 from this Friday through Christmas, and the £1,000 in there already, means I plan to be at...

£3,794 next Christmas! That's £44 over the initial £3,750 plan.

Although now that my income as gone up I suppose I shall have to recalculate my goal :rotfl:


*For those unfamiliar, benefits are paid every 2 or 4 weeks which means that every so often you get an 'extra' payment in a month. Just so happens that my doubled-up housing benefit is happening this month. So most of it is going to the fund after I paid my rent with the windfall :j

lexbubbles

Yup. 3-months on the new rate is now £4,590.30... so we'll call it £4,600.

Okay well I'm going to aim to get that last £806 by my 27th birthday at the end of April 2017. Another 14 weeks or so after xmas

You can all hold me to that. I'm historically terrible at saving.

DuranGirl

Deleted_User wrote: »

Great news Lexbubbles a little bit of great news myself, I don't have to pay my share towards sorting the boiler out New EF balance £1230 xx

Brilliant brilliant news [Deleted User]! :j


The refund on my old car's tax "disc" arrived today: £105! Very pleased about that, as I don't have to tax mine for a year. I was going to add it to the EF, but instead I think I'm going to pay £100 back to the bank of Mum & Dad before Christmas (I know they'll tell me off when I try, but I'm going to do it via standing order so they'll have to catch me first!), so I'll only have £900 owing from January.

Dobbibill

A big welcome to our newest members crimson.addict and lincs1205.

Joining this thread will make sure that no matter how long it takes to reach your target, you will have plenty of support and motivation along the way. We share the ups and downs, enjoy it, it's the scenic route

Talking of scenic routes, mine is via the garage tomorrow for a 'main dealer part' for the lovely water leak on my car. I'll be back tomorrow with an update.......finger's crossed, it will only be a small dent in the fund.

Dobbi

DreamerHelen

Morning Everyone....


I'm feeling good this morning....Had a weird night where I turned one of my Alarms off altogether and then re-set the other one for 8.15am for some strange unknown reason!! LOL...Luckily I woke up naturally....Especially lucky since I'm supposed to be in the Shower at 6.45am....


WantToBeSE - Sounds like there is lots of stuff going on for you right now....don't worry about the Emergency Fund....I know you will put something in when you get the chance....Hope everything goes well for you xXx


crimson.addict - Hope you got your ISA sorted.... I meant to say....there are no real rules for this Challenge....just that we all try to add what we can and when we can....


lincs1205 - Welcome to the Gang....nice to have you here.... Do you have a Target in mind? And don't worry, we are all going to take more than 3-6 months to finish this Challenge....It's about getting an Emergency Fund that will last us for 3-6 months should anything happen


lexbubbles - Sounds like you have it all sorted hun.....Do you want me to change your Target to £4600?


DuranGirl - Sounds like things are going well for you hun.....And good on you for paying back your Parents....


Dobbibill hun ..... Thanks for the lovely Welcoming Message....I hope you are well hun .... xXx

lexbubbles

Yes please, Helen!

DuranGirl

DreamerHelen wrote: »

DuranGirl - Sounds like things are going well for you hun.....And good on you for paying back your Parents....


/QUOTE]


Thanks Helen. Got their bank details last night and sneaked £100 of my car tax refund into their bank last night :cool: I don't think they bank online, so they won't know until their paper statement arrives, and by then it will be too late! Mwah ha ha....:rotfl:Standing order also set up to start on 1 January, so will pay back four months at £200 and then have a final month of £100. So (all being well) the £1000 will be paid off by 2 May


Amazing that you woke up naturally - if I don't set my alarm for 6.30 am, then I'm still in the land of nod at 9.00 am!:o