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3 - 6 month Emergency Fund Challenge (part 2)

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  • Makingabobor2
    Makingabobor2 Posts: 3,066 Forumite
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    #68 checking in.  Been having a bad time and had to use some of the EF...well that is what its for I suppose, but better if it wasn't used. Had to get a new (refurbished) phone. Anyway, we are now down to £160, so just feel like its starting all over again now. But at least both DH & me have a pay rise this month ( me with pensions and him with wages), so hopefully we might save a bit quicker now. 
    Making the debt go down and savings go up

    LBM 2015 - debt £57K / Now £32,466

    Mortgage July'24 £15,100 Officially ends 06/26 but plan to be MF sooner
    Total OPs 2022 - £240   2023 - £1766
    OPs so far in 2024 £1008.00


    Challenges

    EF #68  £250/£1000
    1p a Day '24 #12  £106.49/£667.  SPC '24 #41 £20.46
    Christmas '24 £15 
     
    Make £5 a day July £36.26/£155      
    NSDs July 5/15

    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-d£own-the-savings-up


  • lcc86
    lcc86 Posts: 2,403 Forumite
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    edited 29 April at 12:15PM
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    #79 checking in, new totals after payday £2,046.55. Need to knuckle down as have let things slip a bit and could've been higher.
    Save £2,400 tuition fees - £2,321.04 as of 06/24
    Pay off credit card by December 2024 - £642/£2,000
  • lcc86
    lcc86 Posts: 2,403 Forumite
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    #79 adding £10 - £2,056.55.
    Save £2,400 tuition fees - £2,321.04 as of 06/24
    Pay off credit card by December 2024 - £642/£2,000
  • Bossofmoney
    Bossofmoney Posts: 44 Forumite
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    Just checking in, first time in over a year.

    I found a post of mine from December 2022 on here.

    I have since completed the 0-12k challenge inside a year....but spent it all on our new house rennovations. 

    We are completely debt free (except a disputed £260 utility bill from a previous property)

    Business outgoings have shot up. But then again so has our income as a result. This is helping push us to another level.

    My emergency fund currently sits at £1,000 - untouched. By the end of July I have budgeted to increase this to £3,000.
    Along side this I have budget our (joint) bills account to be another month ahead of where its at. This means increasing the balance by £1,500. I have a few ideas on raising this £1,500 outside of my normal business. This would be by the end of July also.

    Next step - by end of 2024 - 
    The emergency fund to hit £5,000 where it will remain, untouched, in its own account. This really is for emergencies. An engine blowing up on a vehicle, emergency house repairs etc. 

    Bills account (currently 1 month ahead, budget to be 2 months ahead by end of July) to then be 3 months (£4,500) ahead by end of the year. So we get to 31st December 2024 and we have January, Feb, March all covered for a reasonable stress free start to 2025. 

    I love threads like these for support, motivation and to reflect back on to see how far we have come. All my goals are realistic but do depend on me being disciplined.

    If we do fall short we're still closer and better off than we are right now. Lets go.
  • Dobbibill
    Dobbibill Posts: 4,138 Ambassador
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    Hi @Bossofmoney

    Thank you for updating us.

    As you didn't put a goal figure in back in 2022, it doesn't look like I ever gave you a number to report your progress against. 

    Well done on getting to where you are, you have done amazing :)

    I have now recycled a #number that was allocated but never used by another member so you are member #26 and I have updated your goal to £1000/£3000. 

    Keep up the great work!

    Always keep on keeping on. 

    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.
  • x_raphael_xx
    x_raphael_xx Posts: 4,337 Forumite
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    #3 checking in

    Some STC and top up pennies

    £151.36 / £5000
    Debt Free as of 17/01/2009 Turtle Power!!

    EF Challenger #3 £859.83 / £5000
    MFW 2024 #100 £700.00 / £10,000

    MFiT #40 Jan 2025 Target - £99,999.00
    Mortgage at 30/09/22 £113,694.11 | Mortgage at 24/01/23 £110,707.87
    Mortgage at 21/04/23 £107,701.01 | Mortgage at 20/07/23 £106,979.65
    Mortgage at 04/10/23 £106,253.77 | Mortgage at 10/01/24 £105,324.57
    Mortgage at 01/04/24 £104,424.73 | Mortgage at 01/07/24 £
  • x_raphael_xx
    x_raphael_xx Posts: 4,337 Forumite
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    edited 26 June at 3:48PM
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    #3 Checking in
    Little bit of schrapnel here & there. Mainly from STC. Also finally managed to put away a nice chunk from my monthly wages (there may be dark clouds on the horizon work-wise, so I need to get this EF built up asap, just in case)

    £991.83 / £5000
    Debt Free as of 17/01/2009 Turtle Power!!

    EF Challenger #3 £859.83 / £5000
    MFW 2024 #100 £700.00 / £10,000

    MFiT #40 Jan 2025 Target - £99,999.00
    Mortgage at 30/09/22 £113,694.11 | Mortgage at 24/01/23 £110,707.87
    Mortgage at 21/04/23 £107,701.01 | Mortgage at 20/07/23 £106,979.65
    Mortgage at 04/10/23 £106,253.77 | Mortgage at 10/01/24 £105,324.57
    Mortgage at 01/04/24 £104,424.73 | Mortgage at 01/07/24 £
  • jennystarpepper
    jennystarpepper Posts: 703 Forumite
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    44 - £50 please.

    Slow progress as trying to clear mortgage.

    Mant thanks Dobbi.
    MFW -  01 10 21. £63761 01.10.22 £50962 01.10.23 £39979

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