3-6 Month Emergency Fund Challenge!!

The_Only_Girl

DreamerHelen wrote: »

The Only Girl - Can I just check that your Total is £1738.08? I took the figure off your Signature...but I already had that total on the First Page so can I double check where you're at please hun?

Helen, the total in the signature and the first page is correct because the money I mentioned this morning has not been transferred to the EF account yet because we didn't have the card thingy . I will update as soon as I have officially deposited the amount in the bank. Sorry for the confusion, I just got so excited with the prospect of another small payment

DreamerHelen

No worries The Only Girl .... You have every right to be excited.... Let me know when you've Transferred it hun....no hurry... xXx

BabyBetty

Hi I would love to join this challenge if it is not too late.

I aim for a small amount as I am paying off some debt still but as I am working on a rolling contract and don't know when this will end I need to have some back up savings to pay bills.

So I would say an emergency fund for any gap in employment for me would be £5,000.

BB

Dobbibill

Hi BabyBetty,

Welcome to the challenge.

Helen will be along soon with a number for you. Everyone is welcome, enjoy the challenge with plenty of support along the way.

Dobbi

DreamerHelen

Morning Everyone.... Well it's a new Week....I'm back at Placement today....which is a good thing....And I have a new MP3 Player that my Grandparents gave me for Christmas....so I'm looking forward to going on the Tube with that....


BabyBetty - Welcome to the Gang...It's wonderful to have you here....We are all very supportive and so it would be lovely for you to let us know how you're getting on...


Dobbibill hun...thank you for welcoming BabyBetty...much appreciated....I hope you are well....xXx

ani*fan

I just got 2p of interest on my current account so have added it to my EF.

Current EF total £30.29

:j

x_raphael_xx

Another £145 into EF, bringing my total to £707.73.

January will be an easy start to this challenge. There are 5 fridays this month so in effect I can put a whole paycheck into the fund.
Also working xmas and new year is double pay, so that can go away. And I'm currently not paying any rent, council tax, water etc while I'm living with my bf waiting for my house purchase to go thru (I'm contributing by paying for all the food instead, when I can force my bf to accept it!)

I'm making the big payments now while I can, after this month it will slow down quite a bit.

sophieo16

Hello All,

No update from me just yet but hoping to get some small bits put on eBay and a car boot underway when the weather is little better so i can add to the EF. According to my weather app on my phone its supposed to rain constantly from today until Thursday :rotfl: so i may be waiting a while for car boot weather. The joys of living in the glorious North.

I thought i would share a little find with you all. Im not sure how many of you use 'the envelope system' when it comes to budgeting. I would like to do this but i don't like the thought of carrying all that cash around with me/ when i go to the supermarket i will definitely forget my envelope!

So, I've found 2 apps that you can download on your phone (I have an iPhone, not sure if it is available for android) and i thought i would share as everyone normally always has their phone with them.

1. Spending Tracker
2. My Budgets

Spending tracker- you can set your income and then there are categories to choose from so you can add a spend in as soon as you spend the money. I find it more convenient than waiting for my Money Dashboard to catch up with my bank balance transactions.

My budgets- exactly the same format as spending tracker but one step further, you can add all of your categories and as you spend take away from the budget total. This way you always have the amounts you have left to spend in each category on you!

They are both free but can be updated to a 'pro' version.

Hopefully this helps someone, sorry if I'm behind the curve and this is old news haha

DuranGirl

Hey everyone! Happy new year to all. :beer:


I'm back and trying to be focussed. M'chap came up on New Year's Eve for our "Christmas" and he left last night. We spent quite a bit of time planning how he's going to move up here. We discussed finances to see how we could manage, and I was delighted to discover that he has no debt other than his mortgage and two credit cards that he pays off in full every month :j. It was a big step for me to bring it up, but it's given us a lot more focus, so I'm going to travel down to him every other weekend for a while, instead of him coming up to mine, so I can motivate him with his decluttering. That means he can get his place valued and then crack on with applying for jobs. :jSo excited!


This year is going to be great but we're going to have to be very focussed, both financially and in terms of organisation!


Back on topic, my monthly standing order of £300 has just gone into the EF, so my current total is £2400. I've also started off my standing order to my parents towards my car deposit, so I've now paid them £320 out of £1000.

DreamerHelen

Morning All


Well Placement was good Yesterday but for some reason I always feel physically rubbish when I get home on a Monday....I'm not sure if it's too hot at my Placement or if it's the Travelling on the Northern Line (which always makes me feel sick anyway)....So I pretty much had some Cereal and then went straight to bed....


Thankfully feeling MUCH better today


So I don't know if any of you noticed but I had to start from Zero....just before Christmas things were difficult work-wise and so I had to raid my Emergency Fund as I couldn't manage any other way.....


So I was thinking that perhaps I need a Pot that I can't raid....and ONLY put in Money in there that I'm sure I won't need....And I got some Money for Christmas so I spent some on a "Break in an Emergency" Terramundi.....


So I'm hoping this will keep me remembering what I'm saving this money for and that I DO need it....


It might be a couple of Weeks before I can put anything in it but we'll see what I can manage....things are a bit tough financially here....But I WILL get there...We all will


ani*fan - I've updated the First page....Keep it going hun....


x_Raphael_xx - I've Updated the First Page....You're doing amazing!! Sounds like you have some great Plans for this Month....


sophieo16 - Thanks for the App info....much appreciated


DuranGirl - I've Updated the First Page...WOW, you're doing so well hun. Congratulations on having the talk with your Man, sounds like he's a keeper and I hope all your Plans together come to fruition Also well done on paying some money back to your Parents...