3 - 6 month Emergency Fund Challenge (part 2)

Makingabobor2

#68 stopping by. Not updated for a while.  EF had to take a bit of a hammering, and it is now down to £585, but as I always say, at least the money was there when there was a problem and we didn't have to resort to credit or borrowing from inlaws etc.  I will now knuckle down and start saving again and am keeping my target at £3K

VioletNewStart

Dobbibill said:

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

Thank you; Dobbi! I wasn’t planning to start saving until June but I think I will try and make a start this month. Will update at month end! 

ditty1234

Hi can I please join again, please update my target to £3000 to cover bumps and dents. I just got a new dishwasher, after 6 months without one and I refurbished my vacuum cleaner, together worth over £400. I have a very old car, couch and other things are worn out as have been in same house for 20 years. 
I currently am back up to £950 so am not quite starting from scratch. 

VioletNewStart

Hi Dobbi,

#85 here. Thanks again for accepting me onto the thread.

I worked out my sums again and think I was being unrealistic with my aim by year end. 

I’d like to amend my emergency savings target to £1500 by the end of 2025. (It’s currently £0).

Thank you!

claremylove

#48 here reporting in that I've managed to get a bit more added to the pot Dobbi so total now £10,520.  Next saving will be the end of the month when I get paid and can skim off any spare.

VioletNewStart

#85 
It’s a small start but this month (May) I have saved £29. (This is my first month of saving so my total is also £29).

Money_Choices

Hi
I’ve set up a direct debit to transfer £100 per month from my current account into a limited withdrawals savings account to get interest.

Money Choices

Dobbibill

Money_Choices said:

Hi
I’ve set up a direct debit to transfer £100 per month from my current account into a limited withdrawals savings account to get interest.

Money Choices

Well done - that's a great way to save as it's done automatically for you. 

Is your signature up to date as it says £700 saved but I don't have that recorded on the sheet but can update it if it's accurate. 

Keep on keeping on

Dobbi