3-6 Month Emergency Fund Challenge!!

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  • Savvy_sewing
    Savvy_sewing Posts: 11,574 Forumite
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    I'm not exactly doing things the same, as I've come in later I suppose.
    My money is in lots of different little pots.
    But while slowly upping the savings I'm also beating down the debt.
    My long term saver is £1,013.98 - aiming to replace the car eventually
    My Baby Emergency £500
    My floating saver is £113.70 - DGD wants to go to Legoland
    My clothing fund is £70
    My ISA is £662.76 - long term aim for DGD education
    My Holiday Fund is £174.65

    To build a 3-6month fund I would need to have £4,000- £8,000
    So I'm a very long way off.
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
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    I'm like you Mooloo with lots of pots but I've decided that while my car is still running I will use my car fund as my 3-6 month EF.

    When I replace my car I will use whatever I need then continue saving so my total may go down before I hit my target or I may hit my target and get enough for the new car before I need to use it. Either way I get to save 3 - 6 months and have a new car and we are here for the long haul, there's no rush :D
    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.

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  • JCUK
    JCUK Posts: 58 Forumite
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    Little payment from me (I'm still waiting for payday) of £25, bringing my total up to £550. Planning a bit more after payday!

    Thanks for keeping track of it all for us Helen :-)
  • DreamerHelen
    DreamerHelen Posts: 2,629 Forumite
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    Evening Everyone... :)

    I'm just finishing off some Work tonight.....I have about another hour and then I'm done for this Week and starting afresh in the morning....

    Well yesterday I took the whole Day Off and took a Day Trip to York....which was AMAZING!! I thoroughly enjoyed myself and was able to do Piccies and Lunch out....and the Minster and the York Castle Museum....was lovely and relaxing.... :D

    Nothing to Report Moneywise from me....

    Mooloo - Don't worry, I have lots of Pots too....there's nothing wrong with that hun....What would you like me to put your Overall Target as for this Challenge hun? And would you like to me to put a "Currently" Figure....? xXx :)

    Dobbibill - You are absolutely right hun, we are all here for the long haul.....Thank you for all your support and cheerleading on this Thread.... xXx :)

    JCUK - I've Updated your Total so far hun....You're doing AWESOME!! Keep going.....And thank you for your kind words, it's not a problem keeping everything Updated... xXx :)
  • WatWing
    WatWing Posts: 10 Forumite
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    Hi All,
    Another 10 for me!

    Glad you enjoyed York Helen! It's a beautiful city with some great history!
  • abundant1972
    abundant1972 Posts: 1,663 Forumite
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    Evening everyone!

    I'm a little behind posting this month and just caught up on everyone's posts. Am inspired how some people juggle all their finances... I'm single and don't own my own house (I rent) - and I struggle at times. Add a mortgage, all the maintenance of owning a house AND kids... :eek: - I hold my hat off to you!!!

    Welcome JCUK... Great to have you onboard!

    Made my deposit for June of £250 :)
    >

    Total Saved = £750/£1500 - half way there!!!

    I have a 'Help to Buy' ISA running alongside and I think this is the most I have EVER saved in my life!!! That said I still feel broke haha because of the amount that's going out each month... I got used to paying it off on debts and I just carried on paying it into savings. I know it's about getting a balance... I do include treats every now and then I promise!!!

    Keep up the saving folks!!! :T
    DFD = August 2027 @ £250/month
    Follow your heart & be true to yourself always
    My life is full of abundance and prosperity
    NST Feb: Food & Spends = £216.51 / £290.00 NSD = 1 /15
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  • Savvy_sewing
    Savvy_sewing Posts: 11,574 Forumite
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    Ok. So my Emergency Fund for 3 months probably needs to be £4,000.
    Which means I should use the funds that are in my Baby Emergency Fund rather than the car fund, as it is really the only floating fund.
    So that has £500 in it.
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
  • DreamerHelen
    DreamerHelen Posts: 2,629 Forumite
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    Morning Everyone.... :)

    Gosh, I have been rubbish at Updating this Thread over the last couple of Weeks!! I'm so sorry everyone...Life just seems to be taking over a little bit at the moment.....I have my Tax Return to do so that I can Update Working Tax Credits and also a Report to do for College which will complete my Diploma....and all of that has to be done in the next Month!!! :eek:

    But I WILL get there...Just got to keep on plugging away :D:D:D

    Nothing to Report moneywise from me....I'll get there in that regard too... :D

    I DID however notice that this Thread was included in Martin's Weekly Email, it says so on the First Post...So I'm really proud and thrilled about that.... :T :T :T

    WatWing - I've Updated the First Post...You're doing BRILLIANT!! Thank you for your lovely words about York, you're right, it IS beautiful and I had such a lovely Day out there... xXx :)

    abundant1972 - I've Updated the First Page....You are doing AWESOME!!! WELL DONE for getting to 50%, that's AMAZING and I hope you feel really proud, it's no small achievement!! xXx :)

    Mooloo - An Official Welcome from me!! It's lovely to have you as an Official Member of the Group.....I've put your Target down as £4000....Do let us know how you're getting on....And we can all support you in getting to where you want to be xXx :)
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
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    If you haven’t already, join the forum to reply!
    [purplesignup][/purplesignup]

    How cool - this is fab, we'll done Helen for setting it up :j
    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.

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    Just be better than you were yesterday.
  • skye_blue
    skye_blue Posts: 301 Forumite
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    Hi helen and everyone

    Can you please add £15 to EF

    I have been thinking (dangerous I know) and I've decided to focus on this challenge and try to get to my target before returning to the mortgage free savings for a while. Trying to spread the funds too thinly is leaving me feeling a bit over whelmed. So one challenge at a time i think.

    Some people seems to be able to do lots of challenges at the same time and I admire you who do but im just feeling demotivated so one at a time for me unless you guys have some great ideas to share.

    Enjoy the weekend folks
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