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3 - 6 month Emergency Fund Challenge (part 2)

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Comments

  • Bossofmoney
    Bossofmoney Posts: 44 Forumite
    Fourth Anniversary 10 Posts
    Few curveballs came along this year. Cash in the bank totally dwindled but net worth shot up £36k. I will be looking to build an emergency fund from scratch, as part of the save £12k in 2023 challenge as that will be my emergency fund for future. I can only imagine how much easier I will sleep at night once I have some actual money in the bank behind me again,it has only been a month or two yet feels like a lot longer. I will update how im getting on at the end of each month, ideally this time next year the challenge of £12k from scratch is complete. 


  • Makingabobor2
    Makingabobor2 Posts: 4,281 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Good luck @Bossofmoney, sounds like a big challenge. I'll be cheering you on. 
    Making the debt go down and savings go up

    LBM 2015 - debt £57K / Now £28,304....its going down

     Mortgage Free December 9th 2024!      18mths ahead of schedule.  Since 2022 we paid over £15K in OPs.

    Challenges

    EF #68  £550/£3000
    .

    Studies/surveys  September £12.02

    Decluttering items 1194/    2025
    Books read    16
    Jigsaws done  11

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


  • FreedomBringsPeace
    FreedomBringsPeace Posts: 98 Forumite
    10 Posts First Anniversary Name Dropper
    edited 10 December 2022 at 6:28PM
    Extra £100 for me please. £3600. Thank you x=
  • x_raphael_xx
    x_raphael_xx Posts: 4,411 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    50p from the Save the Change

    #3 £129.18 / £5000.00
    Debt Free as of 17/01/2009 Turtle Power!!

    EF Challenger #3 £1543.72 / £5000
    MFW 2024 #100 £1300.00 / £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 01/10/24 £103,594.98
  • Makingabobor2
    Makingabobor2 Posts: 4,281 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    #68 popping by with another £10.  Now on £110/1000
    Making the debt go down and savings go up

    LBM 2015 - debt £57K / Now £28,304....its going down

     Mortgage Free December 9th 2024!      18mths ahead of schedule.  Since 2022 we paid over £15K in OPs.

    Challenges

    EF #68  £550/£3000
    .

    Studies/surveys  September £12.02

    Decluttering items 1194/    2025
    Books read    16
    Jigsaws done  11

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


  • jennystarpepper
    jennystarpepper Posts: 806 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    #44,  Please can you add £70 for me Dobbibll.

    This gets me to target.  Can I please increase my emergency fund to £8000?

    The idea is to have the pot at 15k, but want to reach this in steps.

    Many thanks.
    MFW - 01.10.21 £63761   01.10.22 £50962   01.10.23 £39979   01.10.24 £27815. 01.01.25. £17538
    01.03.25 £14794.    01.04.25 £12888
    01.05.25. £11805. 12.05.25  £9997   05.06.25  £8898. 
     01.07.25. £7975  01.08.25 £6968 01.09.25 £5956.

  • sunshine_raincloud
    sunshine_raincloud Posts: 487 Forumite
    100 Posts Second Anniversary Debt-free and Proud! Name Dropper
    edited 16 December 2022 at 7:43PM
    Well done everyone for all the savings! 

    #69 increasing my total to £537/£6000 please 

    Hope everyone has a fabulous Christmas if I'm not back before then! 
    Debt free November 2022 


  • Dobbibill
    Dobbibill Posts: 4,195 Ambassador
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    jennystarpepper said:
    #44,  Please can you add £70 for me Dobbibll.

    This gets me to target.  Can I please increase my emergency fund to £8000?

    The idea is to have the pot at 15k, but want to reach this in steps.

    Many thanks.
    100% of your goal reached.....well done!!!

    Goal increased to £8000 - 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.

    If you can't be the best -
    Just be better than you were yesterday.
  • GeorgianaCavendish
    GeorgianaCavendish Posts: 2,393 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    jennystarpepper said:
    #44,  Please can you add £70 for me Dobbibll.

    This gets me to target.  Can I please increase my emergency fund to £8000?

    The idea is to have the pot at 15k, but want to reach this in steps.

    Many thanks.
    Congratulations on reaching target @jennystarpepper ! :) 
  • jennystarpepper
    jennystarpepper Posts: 806 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    GeorgianaCavendish said:
    jennystarpepper said:
    #44,  Please can you add £70 for me Dobbibll.

    This gets me to target.  Can I please increase my emergency fund to £8000?

    The idea is to have the pot at 15k, but want to reach this in steps.

    Many thanks.
    Congratulations on reaching target @jennystarpepper ! :) 
    Thank you.  Enjoy your Christmas holidays.  
    MFW - 01.10.21 £63761   01.10.22 £50962   01.10.23 £39979   01.10.24 £27815. 01.01.25. £17538
    01.03.25 £14794.    01.04.25 £12888
    01.05.25. £11805. 12.05.25  £9997   05.06.25  £8898. 
     01.07.25. £7975  01.08.25 £6968 01.09.25 £5956.

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