The £1,000 emergency fund challenge.

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Comments

  • I've just done a quick tidy of my current account and transferred over a whopping £3.93. Every little counts right?

    N x
  • Swash
    Swash Posts: 209 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    £829.38 in EF. Rounding down my account is really working :)
    "Nothing is permanent in this wicked world, not even our troubles".
  • Hello

    not posted in ages. Emergency fund at 600. but not really since it has been savings for various things. So my aim is to get it too 1000 like you guys have been doing.

    XXX
    Nevertheless she persisted.
  • patman99
    patman99 Posts: 8,532 Forumite
    First Anniversary Combo Breaker Photogenic First Post
    I thought I had a lot of money for this time of the month. Having had a look, it became apparrent as to why.

    When my F-in-L got a car I had to use my bank card to pay the insurance has he dosn't have a card (or even a bank account). The car turned-out to have a shot engine so was scrapped and the insurance company arranged a partial refund. The refund hit my account without me noticing. Hence the extra cash.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • crv1963
    crv1963 Posts: 1,372 Forumite
    First Anniversary Name Dropper First Post
    Can I join this challenge please? Light bulb moment came September 2015 when we had both cars serviced and no funds for major repairs! May be difficult to save any meaningful sums before the new year with Christmas on the way but current EF stands at 31p! My goal is to have £1000 EF and savings to celebrate my Gorgeous Wifes 50th Birthday by April 2017!!!
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
  • patman99
    patman99 Posts: 8,532 Forumite
    First Anniversary Combo Breaker Photogenic First Post
    Welcome to our 140th member.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • crv1963
    crv1963 Posts: 1,372 Forumite
    First Anniversary Name Dropper First Post
    Thanks for adding me, I'm not a terribly good saver historically but am aiming to change that, got some goals- started saving £2 coins in a sealed pot, want EF £1000 and to save regularly for Gorgeous Wifes 50th birthday in 2017 which means it has to be saved in 2016!
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    I'm still plodding along, but the ef isn't really growing. I add to it at the start of the month, but have been taking some back out for silly little things. I find this time of year expensive, and I need to be stricter with myself!!
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • DreamerHelen
    DreamerHelen Posts: 2,629 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
    Hi There, I haven't Posted on this Thread in a VERY long time....I'm afraid real life took over....


    I have just started a Thread for those that want to save for 3-6 months wages.....so do feel free to Join if you wish (hope you don't mind me mentioning it on here Patman :))


    But I still intend to ALSO get £1000 Emergency Fund which I shall call my "General Emergency Fund".....My 3 months wages fund will be for serious Emergencies like if I lose my Contract Job or break my back or something that leaves me completely housebound and unable to work....


    But my £1000 General Emergency Fund will be for things like if any of my Grandparents die (which I know sounds awful but one of them is 90 and lives up north and that would require a trip up there) or if my Working Week is a terrible one and I can't earn enough.....or if something breaks down.....or something like that....


    I hope it's okay to use this Thread for that.....and I shall try to save for both Emergency Funds at the same time although probably can only afford to put a fiver in each one per week....


    It looks like everyone is doing BRILLIANTLY....xXx :)
  • Thanks for letting us know about the new thread, DreamerHelen:T. The idea of starting one has been mentioned on here by a few people but no one has actually bitten the bullet and actually done it until now. Well done:beer:

    Am finding it enough of a struggle to get any kind of EF together as whenever I manage to reach a decent amount some real-life emergency jumps up and bites me:(. So patman's challenge needs to focus on short-term savings for me.

    My car is ancient though in reasonably nick after a series of big expenses this year:( and hopefully still has plenty of life left in it. A new car fund is my dream:j, kept separate from my EF, so maybe I'll join your challenge. It will be very slow-going though, money being very tight now I'm on a DMP which I'm trying to pay off in as short a time as possible.
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