Emergency Fund Poll - How prepared are you for an emergency?

Former_MSE_Tine

Inspired by a recent boiler breakdown :eek::

If your boiler, car or washing machine broke down today would you be able to pay for it to be fixed straight away?

Without an Emergency Fund lots of people would have to rely on credit to pay for any repairs. We'd love to know how prepared our Forumites are!

If you haven’t already, join the forum to reply.

You might also want to check out these articles:

Cheap Boiler Cover
Top Saving Accounts
Cheap Car Breakdown Cover
Free Extended Warrenties (Some of the deals are being updated so might be out of date - always double check :money:)

Or why not join other Forumites on the £1000 Emergency Fund Challenge? :money:

onomatopoeia99

Yes - I'm MSE to the core! Emergency Fund at the ready!

MSE_Tine wrote: »

If your boiler, car or washing machine broke down today would you be able to pay for it to be fixed straight away?

Yes. Got bored with "that'll have to go on the credit card" about 15 years ago and became a lot more disciplined about spending.

pinknsparkly

Yes we could. My emergency fund is far more than just a financial pot of money - it's also vital to my mental health. Knowing I'd struggle to repair or replacement something vital in my life would cause me huge anxiety and negatively impact my entire life!

Sea_Shell

Yes - I'm MSE to the core! Emergency Fund at the ready!

It would go on credit card for convenience only but then be paid off after next statement on due date.

oystercatcher

Yes - I'm MSE to the core! Emergency Fund at the ready!

I would be worried to bits if I didn't have an emergency fund. I don't know how people can live like that . Maybe I've been lucky but I think there's a bit more to it as well .

Rosemary7391

I'm currently spending mine...

Aaleigha

still building mine

with a house move on the cards I am unsure how much I will need out of the bank to purchase the house

Primrose

Yes - I'm MSE to the core! Emergency Fund at the ready!

Always had an emergency fund from the time when we were hard up newly weds, albeit a very small one in those days. If you know you're the sort of person who worries about financial insecurity it's far easier to give up buying unnecessary stuff knowing you'll have money in the bank for any emergency.

Memories of sunny holidays in foreign climes arent much use when the bailiffs are knocking at the door or if you're shivering in two feet of snow with a broken down central heating boiler you cant afford to replace.

clairec79

currently no - had to get a new boiler system last year (and new radiators - that wiped out the majority of savings)

I do have a lease car through work so no cost if it needs fixing and could afford a new washing machine

Had I not just paid for a holiday for 6 of us outright earlier this month I'd have a bit more - it'll build up again, if anything dire did happen I'd have to use credit in the meanwhile

whyigetmorelikes

Yes - I'm MSE to the core! Emergency Fund at the ready!

Always keep something back

Fireflyaway

No - I'd need to rely on Credit :(

Don't currently have one and it does scare me. It will be complete by April though. I don't want to be in the situation where I have to borrow to sort problems.