3 - 6 month Emergency Fund Challenge (part 2)

LittleMissDetermined

Thanks for the welcome @Dobbibill, much appreciated.  I will take the baby steps advice, it's a good way to look at it and will seem even more achievable if I have 5% increments as mini targets.  

Th house move is exciting but it's dragging now, it's been almost 11 weeks since we had offers accepted on ours and the one we are buying but the solicitor only seems to look at our case once in a blue moon so nothing seems to be happening. 

Fingers crossed we will hear something soon 

LMD xx

skye_blue

Hi (No 2 here)

Please add £400 - regular savings & sold a couple of kitchen items no longer used

Might be time to up my target soon but want to reach it first - never met any savings targets in the past - so near

Enjoy the bank holiday weekend, stay safe everyone and thanks for the updating x

ditty1234

#52
Now have £2000 and long may it last - car aircon and scrawly dog. 
Does anybody throw money into a stock and savings isa - I maxed out the payment into my housing ISA - silly me!
I am almost confident I cn start packing a bit away now for a bit longer - so just wondering where to put it?

triple_choc_chip

Another pay day and a bit more in the pot. 😊
#34 £2800/£6000
Looking forward to reaching 50%🤞🏼

triple_choc_chip

ditty1234 said:

Now have £2000 and long may it last - car aircon and scrawly dog. 
Does anybody throw money into a stock and savings isa - I maxed out the payment into my housing ISA - silly me!
I am almost confident I cn start packing a bit away now for a bit longer - so just wondering where to put it?

Hi ditty1234, I've just started taking part of my salary as a dividend and need somewhere to store the tax element. I’ve decided on buying premium bonds after reading about the success a couple of posters have had when buying in bulk. With interest rates so low it seems worth the chance of a decent win or regular small wins.

LittleMissDetermined

Morning £4.09 bank round down to my fund today taking me to £1222.79

LMD x

datlex

Currently mine is spread out.  I have £1000 set aside in a savings account. Each of the accounts I have bills paid from has a month of bills in it.  Then I have a bills holding account which contains a month of total bills plus the amount needed to pay bills on any particular day.

Monthly Bills = £942

Total allocated to bills 2 x £942 = £1884

Emergency fund = £1000

Total emergency and bills = £2884

3 Months Bills= £2826 (% excluding EF = 66%)

6 Months Bills = £5652 (% excluding EF = 33%)

PositiveBalance

Hello everyone,

This  month I get to add a whopping £549.32 to the EF, which brings it to £3015.09 which is so near to my 3 month total of £3300, yet at the same time SOOOOO blummin' far away!

This is all the more annoying as I could raid my pots for annual bills/regular expenses to make up the difference and make me feel better, but it's not worth it as I'll just have to make them up again next month.

I have £80.17 left over from last month which I could also add to the total, but I need to buy some gardening stuff to work on my bedraggled garden and this week I have to use up some annual leave so I need to get the stuff to be able to do the garden, so that's not worth it, either.

I'm a little disappointed as I wanted to get my 3 month EF fuilly stocked before I start a new job this month, but it's still not a shabby effort overall, so I'm going to be kind to myself and finish it next month, which I will easily be able to do.

Well done everyone else and welcome to the newbies!

#45: £3015.09

jennystarpepper

#44   £25.00 today  so now at £3800

Can the target be moved to £6000 please Dobbibill?  Glutten for punishment I know, lol.

Many thanks.  

ditty1234

#52
Still have £2200 and have set up overpayment on DMP as well.
While I'm ambitious on saving, I do also need to be actually paying off my debt now that I have about a month worth of savings - or 3 months of rent!