The £1,000 emergency fund challenge.

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  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Just catching up nearly a year later!
    #269 £370 in the pot, I want 750 so a way to go (still!). I did actually get there earlier in the year, but then spent it...
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Well we actually got ours up to £1500 a few months ago, but then life stepped in and we are now down to £500! So need to get cracking getting it back up again.
  • PositiveBalance
    PositiveBalance Posts: 1,268 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    edited 5 November 2018 at 4:24PM
    patman99 wrote: »
    Welcome to NeverendingDMP, who is member #279 & mavvysmum who is #280.


    Job-wise, I have stuck in a few applications and have had 1 interview already with another on Monday.
    I'm in a UC area, so have got my claim rolling.


    Financially, I have enough in the bank not to worry for a while.


    UC. Ugh. Keep it going, but congratulations on the EF to keep you going. You are who I want to be when I grow up, Patman! :T

    As for me, despite a large unexpected expense this month I moved the remaining £393 over to premium bonds to complete my baby baby EF. I may yet live to regret this as I have totally skinted myself for the month but it had to be done, mentally, as I'm getting really frustrated with the lack of progress on CC debt busting. This will give me a chance to knock some more off next month before the end of the year as I'm behind where I wanted to be by the end of the year. (I can't make up the entirety of the difference between where I am and where I wanted to be by the end of the year but I can sure as hell get nearer! :A)
    Debt: £11,640.02 paid in full! DFD: 30/06/20
    Starter Emergency Fund (#187): £1000/£1000
    3 month Emergency Fund (#45): £3300/£3300
  • James1968
    James1968 Posts: 171 Forumite
    First Anniversary Combo Breaker First Post
    My finances are only in such good shape due to a pay-out on an industrial accident claim.
  • lcc86
    lcc86 Posts: 2,338 Forumite
    First Anniversary Photogenic Name Dropper Combo Breaker
    My EF is about to take a huge hit, my gearbox blew up today. Waiting for garage to open tomorrow for a quote but I know it's going to be pricey.
    Save £3,000 emergency fund #79 - £1,805 as of 04/24
  • Im down to £776. X
    September 2017 Debt = £25330

    Starting afresh.

    You can do anything if you put your mind to it. x
  • Loz2018
    Loz2018 Posts: 89 Forumite
    I’m going to set myself the goal of a £1,000 emergency fund.

    Due to health issues I am currently only able to work part time but try to do overtime when possible. I’m currently on ESA/Housing Benefit but worried about being changed over to Universal Credit so want to get some savings in place incase I have to make a new claim.
    I do have £950 credit card that I need to pay down so it’ll take me a while to save up my emergency fund.

    I currently have £223 saved up that I started in mid October so I’m hoping I can keep momentum over Christmas and January.
    CC Debt:£450 Emergency Fund: £1,500 Sealed Pot Challenge 2020 #042: £75
  • lcc86
    lcc86 Posts: 2,338 Forumite
    First Anniversary Photogenic Name Dropper Combo Breaker
    Car repair bill came in, my EF is now down to £220. In one respect I'm gutted that it's nearly gone but on the other hand I'm super grateful it was there in the first place!
    Save £3,000 emergency fund #79 - £1,805 as of 04/24
  • I'm coming into this challenge with 600 pounds. Have decided to save this up while also paying off smaller amounts on credit card. Will be cc debt free by Feb' 2019. looking forward to not spending on credit card and I'm finally coming round to the idea that it's not my money to spend !

    Luckily I'm on a 0% interest until May but don't want to be paying interest on a huge amount so aim is to be debt free and use emergency fund only if needed.

    Have been following MSE for a few months and all the tips and advice have been invaluable so thank you
    Goals:
    Debt Free on 1st February 2019 - goal reached
    Emergency fund £1000/ £1000
    - goal reached January 2020
    3-6 month emergency fund challenge - £4100/£5000 - target date August 2020
  • #272 stayathomemum36 Apologies Ive been awol but weve done it with help of OH bonus now at £1000
    PAD 2018 £867 £1k emergency fund chall £368 / £1000. DFD "Making the changes and sticking to it".[STRIKE]O/D £550/£0[/STRIKE] [STRIKE]Next [STRIKE]£636[/STRIKE] £0[/STRIKE CC Debt: [STRIKE]£29031[/STRIKE]£27,753 :eek:
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