3 - 6 month Emergency Fund Challenge (part 2)

Money_Choices

Hi 
My name is money choices and I joined this challenge in 2023 with number 81, if this is still available I would like to keep it.
Last year I had to use my Emergency Fund after a bathroom flood. 

I would like to use this challenge to get my emergency Fund to 3 months of expenses by December 2025 which is £2,400.

Money Choices

Dobbibill

Money_Choices said:

Hi 
My name is money choices and I joined this challenge in 2023 with number 81, if this is still available I would like to keep it.
Last year I had to use my Emergency Fund after a bathroom flood. 

I would like to use this challenge to get my emergency Fund to 3 months of expenses by December 2025 which is £2,400.

Money Choices

Hi Money_Choices - welcome back.

You still have your same number and managed to save £3282.31 of a £5000 goal.

I have reset this to £2400 starting again at £0.

All the best - just remember to keep on keeping on

Dobbi  

Makingabobor2

#68 popping in to say I am now on £1360/£3000. Can't believe how well it is going now.

RedLipstick

#84 reporting with the latest of £2,406.44/£10,000

Littlebigmoose

#7 here. It's been a while but can I change my goal to £10 000 please. Currently at £2000. Thanks

claremylove

I've been missing for quite a while Dobbibill.  I was #48 - am guessing I still am but happy to be given a new number.  Anyway, I've been busy squirelling money aside all this time and now up to £10,030  .   Did have to take money out for a new clutch and gearbox but that money has now been replaced.  Was very satisfying to know the money was already saved up as didn't need to rely on the credit card.  Very happy with how the savings are building (if a bit slow - but still steady)

claremylove

Me again  Dobbibill - can you raise my savings target to £15,000 please?  Also looked back to when I last posted and it was November 2021 - ooops!!!

FrugalFinance100

Hi, 

I'm new to this challenge but feel I've been living like this for the last 17 years. 

I've alway been a bit frugal having grown up a large family of 5 to a single hard working and determined mother. 

When I became a single parent myself after fleeing an abusive relationship I doubled down on the frugal lifestyle as a way of survival. It has paid dividends but requires a heck of a lot of commitment, continual monitoring and lots of planning.

This lifestyle is not for the faint hearted but luckily I have tried and tested methods that do work and happy to share. 

My plan is to build and emergency fund to safeguard againt the unexpected and pay off the mortgage early (to keep a roof over our heads). 

Firstly, keep down the food in your fridge and freezer before attempting to make a trip to the supermarket. This could mean being very creative in the kitchen and looking up recipes online. For example at Christmas I bought boxes of veg for 9p potatoes, Brussels sprouts, onions, carrots. While the brussels have gone I'm still working my way through the potatoes and onion. Batch cooking has extended the food life and I have ready made home cooked meals on tap. This help me to save a 2 months food shop to add to the emergency fund. 

I have so many more tips but will give others an opportunity to add further. 

Good luck all. 

VioletNewStart

Hello, if it’s not too late to join this challenge, please can I join?

I am in the process of clearing a lot of debt and also want to start building savings so I no longer rely on credit cards for emergencies.

Current savings - £0
Savings aim by end Dec 2025 - £2500

Dobbibill

VioletNewStart said:

Hello, if it’s not too late to join this challenge, please can I join?

I am in the process of clearing a lot of debt and also want to start building savings so I no longer rely on credit cards for emergencies.

Current savings - £0
Savings aim by end Dec 2025 - £2500

Welcome aboard!

You are member #85 and I have added you and your goal to the spreadsheet.

keep us updated on your progress - we'll be cheering you on from the sidelines. 

Keep on keeping on. 

Dobbi