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  • FIRST POST
    • patman99
    • By patman99 3rd Oct 14, 10:35 PM
    • 8,195Posts
    • 9,659Thanks
    patman99
    The 1,000 emergency fund challenge.
    • #1
    • 3rd Oct 14, 10:35 PM
    The 1,000 emergency fund challenge. 3rd Oct 14 at 10:35 PM
    For the idea for this after listerning to the 'Dave Ramsey Show'.

    The idea is to accumulate an emergency fund of 1,000 sitting in a Bank account just in case of emergencies.

    You must not leave yourself short in order to reach your goal.

    Members-
    #1 Patman99 .................................................. ..#2 Hummingbird
    #3 GaLa15 .................................................. .....#4 Trixibell
    #5 Making_The_Best_of_it ............................#6 Dolly Rocker
    #7 Nintud .................................................. ......#8 Speakingofart
    #9 Calling14 .................................................. .#10 Aloofdragon
    #11 Eyebright .................................................. #12 Chrisfreelander54
    #13 DreamerHelen ........................................#14 mobo1980
    #15 sunshinegirl66 .........................................#16 MrsSave
    #17 rosieben .................................................# 18 peony40
    #19 Buffythedebtslayer .................................#20 October Starter
    #21 monz .................................................. .....#22 georgiebrown0
    #23 Jubilee76 ................................................#2 4 Debt Free Desires
    #25 abundant1972 ..........................................#26 Toomuchtodo
    #27 I-need-to-be-debtfree ............................#28 WantToBeSe
    #29 Bobarella ................................................#3 0 Muser1
    #31 twiggy86 ................................................#3 2 laurababs
    #33 Roundthebend .......................................#34 Kermit2601
    #35 StressedSteph ........................................#36 YoungBusinessman
    #37 redlaces .................................................# 38 stiltoncheese
    #39 Magsnoodle ...........................................#40 MessyBetty
    #41 ruby_eskimo ..........................................#42 IrishRose12
    #43 carbootcrazy ..........................................#44 Simply_Saving
    #45 Dobbibill ...............................................#46 grassgirl
    #47 Ms.Dita .................................................# 48 On my way
    #49 CountingPennies ................................#50 Tilly MFW in 6 YRS
    #51 Hoipolloi ...............................................#52 pozza_73
    #53 newroadahead .......................................#54 Pinksteps
    #55 kdalwayskint ........................................#56 So Very Confused
    #57 marleyboy .............................................#58 bmma
    #59 Vkz .................................................. ......#60 Ep007
    #61 sophieo16 ...............................................#62 tinks112
    #63 Stereochild .............................................#64 Laurag89
    #65 Nicki_Sue ...............................................#66 Inthedoghouse
    #67 Depth of field .........................................#68 happybunny86
    #69 R2B .................................................. ......#70 Toomuchdebt
    #71 Mbizi .................................................. ...#72 littleangels3
    #73 dida80 .................................................. .#74 Harleyquinn
    #75 BabyBetty ..............................................#76 Sallybunny
    #77 Meezel ...............................................#78 rising from the ashes
    #79 newpennypincher ................................#80 damondash
    #81 Jonesy88 ..............................................#82 clumsychaos
    #83 MrCrimeFiction ...................................#84 MrsR68
    #85 29Found ..............................................#86 Kelxx
    #87 January2015 ........................................#88 Jacko_amz
    #89 Kayalana99 ..........................................#90 Andyfromotley
    #91 Jon81 .................................................. ..#92 astrid35
    #93 LullaBelle .............................................#94 BuildingBricksOfGold
    #95 Hadalbm ...............................................#96 Meatloaf1981
    #97 Daisychain1 ........................................#98 bestfootforward
    #99 *DramaQueen* ...................................#100 eveie189
    #101 Casper123 ..........................................#102 Lazer-zxr
    #103 DeafLeopard ......................................#104 nicing
    #105 joee .................................................. ..#106 Mrs Toast
    #107 RaspberryJiuce .................................#108 takingcontrolatlast
    #109 parsniphead .......................................#110 NoLifeWithoutYou
    #111 PollyPrissypants ................................#112 amber03
    #113 teeni .................................................. .#114 bogbrsh250
    #115 thegreenone .......................................#116 inamin
    #117 Hope78 ..............................................#118 Bored
    #119 King_Slayer .......................................#120 BettyBoof
    #121 Cat Girl ..............................................#122 Triangle
    #123 nannygladys ......................................#124 myamyamoo
    #125 nows the time ....................................#126 milky1991
    #127 Lina T ................................................#1 28 sugar123
    #129 evo5819 .............................................#130 *snow*white*
    #131 Digging ..............................................#132 belleandthebudget
    #133 Aphidgirl ............................................#134 Grabs39
    #135 Tinkerbelle2000 ................................#136 cybertortoise
    #137 Blue_Bird .........................................#138 Snorkypants
    #139 B17c .................................................# 140 lincs1205
    #141 stormpassing .................................#142 LittleMissDetermined
    #143 The Only Girl .....................................#144 nellis10
    #145 Swash .................................................# 146 Justforme
    #147 crv1963 ...............................................#14 8 mossy
    #149 Ellieseleven ........................................#150 bilbodreams
    #151 Claire1a ..............................................#152 mrs motivated
    #153 fairyclicks ..........................................#154 12 month challenge
    #155 chasingdreams ...................................#156 lexbubbles
    #157 Moonbean ......................#158 MadCoderWhatCodesAtMidnig
    #159 rylee12 ...............................................#16 0 JHiggins91
    #161 Dandytf ..............................................#162 5erge
    #163 nextyeartina ........................................#164 sarahm0rris
    #165 NeedToBeDebtFree ............................#166 moneytree1
    #167 strandedinaber .....................................#168 Heartland
    #169 Cutcostsandsave ..................................#170 Kim_13
    #171 PinkWhisk ..........................................#172 debbie_debt
    #173 Jo3y83 .......................................#174 Havecourageandbekind
    #175 Effyb4 .................................................# 176 Monks
    #177 doingitanyway ....................................#178 lcc86
    #179 Positivelypunked ...............................#180 evuka
    #181 BelleBelles19 ..................................#182 little library lady
    #183 Anna-marie3363 ............................#184 Meezel
    #185 LABMUM ........................................ #186 -Selene
    #187 PositiveBalance ..............................#188 Grandad's Offspring
    #189 Kimplus8 ........................................#190 Hanliam
    #191 Chazz.Collins .................................#192 TrushTush
    #193 swimminginaseaofdebt .....................#194 BlackFrosting
    #195 evo5819 ...........................................#196 Hermionesaver
    #197 cheesedoffwithdebt ........................#198 PennyJar
    #199 Julie67 ...............................................#20 0 Angelicious
    #201 Pinkwhisk .....................................#202 tibbles209
    #203 Lauralozzle ..................................#204 ButterflyBee
    #205 Smolly .........................................#206 Dobs
    #207 Treasurequeen ..............................#208 ab_saver
    #209 BeTheChange ..............................#210 Anita55
    #211 primalmother ................................#212 Kawaii corgi
    #213 Thora ...........................................#214 PoorGuyNextDoor
    #215 2sonmum ....................................#216 theresamum2
    #217 luvabargain ................................#218 missy83
    #219 willkeepontrying ......................#220 mumto2girlsandaboy
    #221 Bluelala ........................................#222 LianneH
    #223 Treasurequeen ..............................#224 Whoknowskt89
    #225 Foxyloxy11 .................................#226 Bird.Heart.Mouse
    #227 Stb ...............................................#22 8 Macey1510
    #229 Dreamtruce ..............................#230 IndigoWarrior
    #231 ploppy57 ....................................#232 Claremylove
    #233 foxyloxy11 ...................................#234 Muser1
    #235 XSpender .....................................#236 PlaysNicely
    #237 DancingUnicorn ..............................#238 thoragunnr
    #239 Jessop64 .........................................#240 quintwins
    #241 Mummy_bear .................................#242 BachFlower
    #243 mixmir ...........................................#244 Moneybutterfly
    #245 catralense ......................................#246 Narola1976
    #247 Farmeress ......................................#248 Billy12345
    #249. Cozicup ...........................................#250 SamSam17
    #251 ej22 ................................................#2 52 Nicnak
    #253. Florence J .......,............................#254 Arrietty
    #255 IrisViolet ........................................#256 lcc86
    #257 Adventureofmemories ..................#258 Missymae0
    #259 Moneyx3 ...........................................#260 itslulu
    #261 lheart ................................................#2 62 MeenaM
    #263 Bublin1 ..............................................#264 flying mamma
    #265 ani*fan ..............................................#266 jaxsmar
    #267 haybel19 ..............................................#268 Pickle_99_uk
    #269 HLB10 ..............................................#270 Littlebigmoose
    #271 xironsongx .......................................#272 Stayathomemum36
    #273 Debtfreeby2020 ...............................#274 Debtfreewannabme
    #275 Starmummy .....................................#276 Mydmp
    #277 MelBell2015 .....................................

    This list is correct as of 19/1/17.
    Last edited by patman99; 05-04-2018 at 7:11 PM. Reason: List got 'lost'.
    Never Knowingly Understood.

    Member #1 of 1,000 challenge - 1000/ 1000 (that's 100%)

    3-6 month EF 631.65/3600 (that's 10 days worth)

    Do you/your spouse earn less than 197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
Page 143
    • AndyLGR
    • By AndyLGR 9th Mar 18, 8:52 AM
    • 219 Posts
    • 79 Thanks
    AndyLGR
    Whenever I look at my current account I round it down by transferring an amount to my savings, so for instance if the balance is 255.37, I'll transfer the 5.37 to a savings account. Already by doing that I've hit 250 since the turn of the year. It might sound like a mad way of doing it, but little amounts just aren't missed when transferring them like that. Little and often as they say.
    • ploppy57
    • By ploppy57 10th Mar 18, 8:08 AM
    • 722 Posts
    • 4,651 Thanks
    ploppy57
    Well our "savings" taken a bit of a hit since we started our DMP. but at least the EF is now going in the right direction...however slowly. Just added another 5 and hoping to add some more over the weekend. Onwards and upwards, even if I do have the lowest EF on here....
    DMP March '15 57,549. Now 44,430. almost 23% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... Building up slowly.
    Christmas '18 challenge... 22 /300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • carbootcrazy
    • By carbootcrazy 10th Mar 18, 8:15 AM
    • 4,732 Posts
    • 26,860 Thanks
    carbootcrazy
    Well our "savings" taken a bit of a hit since we started our DMP. but at least the EF is now going in the right direction...however slowly. Just added another 5 and hoping to add some more over the weekend. Onwards and upwards, even if I do have the lowest EF on here....
    Originally posted by ploppy57
    Please don't worry about that, it's not a competition. Several of us have had to totally wipe out our savings because of emergencies (and funding emergencies is what the challenge is for anyway) and have been back to square one. You're going in the right direction, as you say, so well done to you
    Make 10 A Day Challenge 2018: Jan-Apr: 757.05+. May: 1230.95


    Original Debt: 56804 (@02/13). Now: 9998
    . Under 10K at long last.
    • ploppy57
    • By ploppy57 10th Mar 18, 7:41 PM
    • 722 Posts
    • 4,651 Thanks
    ploppy57
    Please don't worry about that, it's not a competition. Several of us have had to totally wipe out our savings because of emergencies (and funding emergencies is what the challenge is for anyway) and have been back to square one. You're going in the right direction, as you say, so well done to you
    Originally posted by carbootcrazy
    Thanks CBC. You seem to have done so well on your DMP journey to have reduced your debt by so much so quickly. Hope we are as lucky.
    DMP March '15 57,549. Now 44,430. almost 23% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... Building up slowly.
    Christmas '18 challenge... 22 /300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • carbootcrazy
    • By carbootcrazy 10th Mar 18, 8:19 PM
    • 4,732 Posts
    • 26,860 Thanks
    carbootcrazy
    Thanks CBC. You seem to have done so well on your DMP journey to have reduced your debt by so much so quickly. Hope we are as lucky.
    Originally posted by ploppy57
    To be honest it was real slog for over 2 years at the start. I went about it all wrong, trying to repay at the fastest speed possible. I hadn't discovered the DMP thread then. I was existing rather than living and the emergencies that cropped up (and there were several either car or cat related) sent me into a total panic because I had absolutely no savings, barely had enough money for even the most frugal basics of life, and had no access to credit. Also, my OH knew nothing of my debts so I couldn't go running to him for bail-outs. I was so ashamed and embarrassed at getting myself into so much debt that I couldn't tell a single person and ask for help. The MSE forums were a lifesaver for me. 2 decent-sized PPI payouts helped considerably during this time. Plus, more importantly, I cut my DMP payments to sensible levels and started an EF thanks to this wonderful thread.


    My debt balance shown in my signature doesn't include the 2 UE ones. I'm still trying to find out about the others. Maybe I'll be lucky with them but if not I reckon I can still be debt-free by the very end of the year as I'll be trying some F&F offers.

    Good luck
    Make 10 A Day Challenge 2018: Jan-Apr: 757.05+. May: 1230.95


    Original Debt: 56804 (@02/13). Now: 9998
    . Under 10K at long last.
    • ploppy57
    • By ploppy57 10th Mar 18, 8:44 PM
    • 722 Posts
    • 4,651 Thanks
    ploppy57
    To be honest it was real slog for over 2 years at the start. I went about it all wrong, trying to repay at the fastest speed possible. I hadn't discovered the DMP thread then. I was existing rather than living and the emergencies that cropped up (and there were several either car or cat related) sent me into a total panic because I had absolutely no savings, barely had enough money for even the most frugal basics of life, and had no access to credit. Also, my OH knew nothing of my debts so I couldn't go running to him for bail-outs. I was so ashamed and embarrassed at getting myself into so much debt that I couldn't tell a single person and ask for help. The MSE forums were a lifesaver for me. 2 decent-sized PPI payouts helped considerably during this time. Plus, more importantly, I cut my DMP payments to sensible levels and started an EF thanks to this wonderful thread.


    My debt balance shown in my signature doesn't include the 2 UE ones. I'm still trying to find out about the others. Maybe I'll be lucky with them but if not I reckon I can still be debt-free by the very end of the year as I'll be trying some F&F offers.

    Good luck
    Originally posted by carbootcrazy
    Hope you do it by the end of the year, I'll keep my fingers crossed for you. We are saving for F&F's now we have started SM , so I know we will get there sooner than predicted.
    DMP March '15 57,549. Now 44,430. almost 23% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... Building up slowly.
    Christmas '18 challenge... 22 /300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • patman99
    • By patman99 10th Mar 18, 10:50 PM
    • 8,195 Posts
    • 9,659 Thanks
    patman99
    Welcome Starmummy who is #275 and #276, Mydmp.

    Not a lot to report other than sold 2 Ryobi Intelliport chargers as I have 2 1 hour ones now.
    Funds added to tool budget.
    Never Knowingly Understood.

    Member #1 of 1,000 challenge - 1000/ 1000 (that's 100%)

    3-6 month EF 631.65/3600 (that's 10 days worth)

    Do you/your spouse earn less than 197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • moneyonmymindsam
    • By moneyonmymindsam 10th Mar 18, 11:28 PM
    • 1,406 Posts
    • 4,284 Thanks
    moneyonmymindsam
    Patman , Please can i ask you about
    3-6 month EF

    Is this a personal challenge or is there a thread for this ?

    Thanks Sam x
    Emergency Fund Challenge
    • carbootcrazy
    • By carbootcrazy 11th Mar 18, 6:14 AM
    • 4,732 Posts
    • 26,860 Thanks
    carbootcrazy
    Patman , Please can i ask you about
    3-6 month EF

    Is this a personal challenge or is there a thread for this ?

    Thanks Sam x
    Originally posted by moneyonmymindsam
    Hi Sam

    In case patman doesn't get back on here for a while I'm butting in and posting the link to the challenge you were asking about:

    http://forums.moneysavingexpert.com/showthread.php?t=5344441

    Hope it works!

    It's open-ended and you can join at any time even though it's been running since 2015. Please come and join us, it's a very supportive and friendly group
    Last edited by carbootcrazy; 11-03-2018 at 6:17 AM.
    Make 10 A Day Challenge 2018: Jan-Apr: 757.05+. May: 1230.95


    Original Debt: 56804 (@02/13). Now: 9998
    . Under 10K at long last.
    • patman99
    • By patman99 11th Mar 18, 10:08 PM
    • 8,195 Posts
    • 9,659 Thanks
    patman99
    DreamerHelen suggested such a thread, so I said to her 'go ahead and start one' so she did.

    I'm also a member on there as well, but don't post very often.
    Never Knowingly Understood.

    Member #1 of 1,000 challenge - 1000/ 1000 (that's 100%)

    3-6 month EF 631.65/3600 (that's 10 days worth)

    Do you/your spouse earn less than 197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • moneyonmymindsam
    • By moneyonmymindsam 11th Mar 18, 10:35 PM
    • 1,406 Posts
    • 4,284 Thanks
    moneyonmymindsam
    Hi Sam

    In case patman doesn't get back on here for a while I'm butting in and posting the link to the challenge you were asking about:

    http://forums.moneysavingexpert.com/showthread.php?t=5344441

    Hope it works!

    It's open-ended and you can join at any time even though it's been running since 2015. Please come and join us, it's a very supportive and friendly group
    Originally posted by carbootcrazy
    Thank you
    Emergency Fund Challenge
    • lcc86
    • By lcc86 13th Mar 18, 11:12 AM
    • 975 Posts
    • 3,004 Thanks
    lcc86
    My EF is about to take a hit, my rabbit needs dental surgery. Unfortunately it's not covered under the insurance as it's a common problem so it's under 'general exclusions' - typical - but at least I have the extra in there to account for it. Still no word on the cost of the roof repairs, the management company seem to fob us off each time we ask. Not sure whether to get annoyed or just be grateful that it gives me more time to save...
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original diary
    1117/1000 EF 538 saved for household jobs
    Debt free and in the black for the first time in 11 years
    • lcc86
    • By lcc86 20th Mar 18, 12:02 PM
    • 975 Posts
    • 3,004 Thanks
    lcc86
    EF is down to 1107 following the surgery, decided to use some savings from a different pot which was not essential at all. It's been an expensive month as I got the car serviced at just under 300 and now have a service charge invoice to pay as well so despite really bumping up the savings the last couple of months I'm haemorrhaging money! I also really screwed up this month's budget somehow and have ended up with no money left for petrol or food and 10 days until payday deffo need to get back on the mse wagon in April.
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original diary
    1117/1000 EF 538 saved for household jobs
    Debt free and in the black for the first time in 11 years
    • carbootcrazy
    • By carbootcrazy 20th Mar 18, 12:35 PM
    • 4,732 Posts
    • 26,860 Thanks
    carbootcrazy
    EF is down to 1107 following the surgery, decided to use some savings from a different pot which was not essential at all. It's been an expensive month as I got the car serviced at just under 300 and now have a service charge invoice to pay as well so despite really bumping up the savings the last couple of months I'm haemorrhaging money! I also really screwed up this month's budget somehow and have ended up with no money left for petrol or food and 10 days until payday deffo need to get back on the mse wagon in April.
    Originally posted by lcc86
    Sorry to hear about all your recent expenses. Some months are like that aren't they?


    I hope your rabbit is OK now. My cat used to cost me a small fortune in Vet bills. I had pet insurance for him for several years but most of the things he needed treatment for either weren't covered or weren't worth claiming for due to the policy excess
    Make 10 A Day Challenge 2018: Jan-Apr: 757.05+. May: 1230.95


    Original Debt: 56804 (@02/13). Now: 9998
    . Under 10K at long last.
    • Debtfreewannabme
    • By Debtfreewannabme 20th Mar 18, 8:19 PM
    • 103 Posts
    • 774 Thanks
    Debtfreewannabme
    Hello, after building EF up quite a bit I decided to use it to help clear debt off quicker - fast forward 3 weeks and we now debt free. I did have 500 in EF but moved it over to piggybank accounts to bring us up to date with saving for car insurance, mot etc. So now I am back to boosting EF to 1,000.
    50/ 1000
    • carbootcrazy
    • By carbootcrazy 20th Mar 18, 8:30 PM
    • 4,732 Posts
    • 26,860 Thanks
    carbootcrazy
    Hello, after building EF up quite a bit I decided to use it to help clear debt off quicker - fast forward 3 weeks and we now debt free. I did have 500 in EF but moved it over to piggybank accounts to bring us up to date with saving for car insurance, mot etc. So now I am back to boosting EF to 1,000.
    50/ 1000
    Originally posted by Debtfreewannabme
    Congratulations on becoming debt-free. That's my ambition
    Make 10 A Day Challenge 2018: Jan-Apr: 757.05+. May: 1230.95


    Original Debt: 56804 (@02/13). Now: 9998
    . Under 10K at long last.
    • Debtfreewannabme
    • By Debtfreewannabme 21st Mar 18, 4:40 PM
    • 103 Posts
    • 774 Thanks
    Debtfreewannabme
    #274 paid in 60 to EF -
    110/1000
    I am now debt free - 20/03/18. Whatever your situation - just.keep.going!
    EF 1000/1000 goal
    CHILDCARE Savings goal 600/600
    EF 3 month goal 3,500/3,500
    HOUSE DEPOSIT 0/20,000
    • patman99
    • By patman99 21st Mar 18, 8:43 PM
    • 8,195 Posts
    • 9,659 Thanks
    patman99
    Reducing debts is actually a good idea as you then save on the interest the debts were incruing.
    Never Knowingly Understood.

    Member #1 of 1,000 challenge - 1000/ 1000 (that's 100%)

    3-6 month EF 631.65/3600 (that's 10 days worth)

    Do you/your spouse earn less than 197 p/w ?. Fill-in Form R85 and get your Bank interest Tax free.
    • foxyloxy11
    • By foxyloxy11 21st Mar 18, 8:45 PM
    • 298 Posts
    • 1,588 Thanks
    foxyloxy11
    I too had a wobbly time...Alternator needed replacing today but as I've started saving for other pots such as car repairs etc now em. fund is at 1000 i managed to avoid using it...PHEW! still intact but will really have to tighten my belt for the last week and a bit.
    1000 Emergency fund challenge #225 - 1000.00.00/1000 Baby Step 1-COMPLETE
    Debt free day October 2019 - End of Baby Step 2 (A work in progress)
    • Barbie61
    • By Barbie61 22nd Mar 18, 1:58 PM
    • 14 Posts
    • 14 Thanks
    Barbie61
    I'd like an emergency fund but it's nigh on impossible to make ends meet on my DMP as it is. Vet bills and meds are taking most of my food money as I have more than one dog. We've just had a rat infestation and I now have to pay for new electric wiring, new insulation and not looking forward one bit to clearing the attic of all the contaminated stuff. There's one fallen through into a wall cavity and smelling the bathroom out as it decomposes so I now need to pay someone to take the bath out so we can reach it. I'm vegan so can live very cheaply, foodwise but just wondering when life will give me a break. I should have tried to accumulate some prior to the DMP - I know that now. Will put this on my wish list though - great idea for making friends and sharing stories.
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