MSE Forum poll: Do you keep an emergency fund?

Nearlyold

Don't have a specific Emergency Fund, would just take money out of deposit savings as and when required.

subjecttocontract

Large(£2k+)

I think a definition of an 'emergeny fund' would help. Any account where money is accessible can surely be considered an emergency fund. Any easy access account would fit the bill wouldn't it ?

Brie

No

Nothing labeled "emergency". But money available which ranges from instant to within a month. And credit cards with high limits so I think we're ok. The only account that is "labelled" in any way is OH's which is his daily spending money and which also covers our holidays (mostly) and his luxury spending (shoes, hats and stereo).

Nasqueron

Large(£2k+)

I have about 6-7x monthly salary in easily accessible cash savers and another 2-3x in regular savers. I voted in the 2k+ bad but it's more like 25k which is partly offset against about 10k of 0% CC balance transfers

subjecttocontract

Large(£2k+)

As I under it the majority of the population do not have an emergency fund. Asking the question on a money saving/ finance website is very likely to give a totally skewed result that is atypical of the rest of the country.

ardee

Large(£2k+)

I also have an additional emergency fund of over £6k ring fenced for any significant vet care my little dog might need. I've always put money aside for my dogs instead of insuring them and so far it's worked out financially better.

Spoonie_Turtle

Large(£2k+)

I keep savings that I could use in an emergency, but under £6k. Above that and you have a headache with trying to get UC to deduct the correct amount of money every single month (and taking months for each one) and I do not have the energy for that. There's a strong chance the continuous hassle if I had to deal with that would make me deteriorate to bedbound.

I think these polls would get a broader response if they were announced at the top of the forum so people know they're there, instead of only finding them if they find this board.

Pathfinder000

Premium Bonds account is the emergency fund. Amount in it is usually around £3k, which is about 2-3 months for me.

But this money is more specifically for food and immediate existence type issues.

DarthDaisy

Large(£2k+)

My emergency fund is not really an emergency fund in that I do not dip into it, it is my funeral fund that I pay to my eldest every time I reach £1k.

I get to that £1000 by putting whatever is left in my account into a virtually no interest savings account, then I transfer back to current the amount of any big bills like energy.

I cut back on food and heating all the time to make sure I do not spend more than I have coming in.

I did not take a deal on energy as it was too late, I imagine I will qualify for whatever help .Gov provides at the end of the year.

Eco_Miser

Large(£2k+)

I voted large because I have multiple thousands of pounds in easy access accounts, which could be used in any emergency, but I don't have any fund earmarked for emergencies, and never have.