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I have been wondering for MONTHS now about what would happen if there was some kind of Emergency....I am self-employed and also starting a new Business which will also be on a self-employed basis....so I will never get holiday pay or sick pay....although I AM hoping to maybe get an employed Job but that would only be for a couple of days a Week so it won't cover me completely if something were to happen....
My health is not wonderful at the moment, and hasn't been for a while, but I'm going to start trying to lose Weight once I've moved Flats (which I'm doing this Weekend!!).
So the point of this Challenge is to save up at least 3 month's worth of wages....that can be a different amount for each person....and some people might want to save up to 6 months if they are feeling ambitious!!
Me personally, I want to save 3 months worth of wages which for me will be £6000.
Now, there is ABSOLUTELY NO TIME LIMIT on this Challenge...in fact I suspect it could take me Years to get to the point of having 3 months wages as Savings....For now I can only afford £5 per week but as my new Business builds up (hopefully!!) then I should be able to afford more.
This Thread is mainly for us all to encourage each other to keep on Saving and to celebrate when we reach milestones, however large or small they may be.....Like for me, when I get to having £500 I will be ecstatic!!
I also wanted to say that if at any time an emergency crops up and you need to use your Fund and then start again then please don't worry about doing that.....It's what the Emergency Fund is there for after all....
I don't like having Savings in the Bank as I get too tempted to spend them so I'm going to invest in a Terramundi to put my Savings into at least at first......but other's may choose to use their Bank Accounts or a Tin from Poundworld...or stuff it under your Mattress!!
Sooooo.....Here we go.....I'll add the names below as people Join....xXx
Last edited by DreamerHelen; 18-04-2018 at 9:35 PM.
Committed To Paying Off My Debts AND Saving 3-6 Month Emergency Fund #1 £0/£6000
General £1000 Emergency Fund #13 £0/£1000 Saving For Christmas 2018 £1 per day #13 £4/£750 MSE Sealed Pot Challenge #089 - £276.70 Banked For 2017/2018 - Stars from SueUU x25
Hey Everyone....Happy Easter!! I hope you all have eaten LOADS of chocolate today I had some Aero Bubbles....but I've been trying to behave of late and not doing a great job of it but at least I'm trying....Some might say very trying!!
Nothing to Report moneywise from me....But I'll get there...
Here's to the Updates... xXx
skye blue - I've Updated the First Page....You're doing AWESOME...Keep going....Thank you for your words....I hope you're well hun xXx
moneyonmymindsam - Thank you.....that made me smile....and don't worry you'll get there!! xXx
166million - I've Updated the First Page...You're doing AMAZING....Just keep on going and moving forwards and you'll get there...thank you, it's good to be back and lovely to see everyone achieve their saving dreams... xXx
Committed To Paying Off My Debts AND Saving 3-6 Month Emergency Fund #1 £0/£6000
General £1000 Emergency Fund #13 £0/£1000 Saving For Christmas 2018 £1 per day #13 £4/£750 MSE Sealed Pot Challenge #089 - £276.70 Banked For 2017/2018 - Stars from SueUU x25
Thank you LMD
I think I'm going to set up a regular saver account as seems to have the best interest rate! Annoyingly I need to go into the branch to sort but my plan is £50 per month to get me started!
2018 GOAL - PAY OFF ALL DEBT AND HAVE SAVINGS
PAYDBX2018 #103 £705.72/£8032.46
£1000 EF Challenge #277 £0/£1000
3-6 month EF Challenge #98 £0/2100
Not saving for wedding anymore.
I brought a laptop with the savings under the OK of the hubs to be.
It just isn't the right time yet as we have so much going on that it's easier to start saving when we both are able to. He's learning how to drive and soon will be taking his test so he'll be wanting to buy a car and insurance etc after he does pass.
I'm using the left over money to create a starter emergency fund first - see how long it takes. £414.69 in for now.
Engaged 01-09-17 Wedding £519.78 (BA) £80.22 (Sp) / £5,600 £5,000 left to save
Please add £50 - had a few good survey payouts and cashed in some £2 coins (safer to bank so i don't dip in).
Still waiting for my £50 from Yougov to drop into my bank. I know it takes ages (only the 2nd time ive ever achieved it) but its a lovely amount - when it arrives!!!
I'm not sure if I said but I've been doing a Course for the past 6 months....I'm a Psychotherapist but haven't been getting as many Private Clients as I would like and so I've been adding to my Training and this Training Course could continue for another 18 months to 2 years....but hopefully at the end of it I might be able to get a part-time Employed Job rather than relying on Private Clients...
So yesterday was the end of the first Course....And it was time for the exam....and that has been stressing me out for a good few weeks....Lots of exam anxiety....plus I've had to finish a fair amount of written work for the Course too...So this means I had to abandon most of my paid Work in order to do that...and unfortunately that means I needed my Emergency Fund to cover me....
I'm disappointed but at least I had the money there and I didn't have to borrow any money or take a loan out or anything like that...so I'm grateful for that....
So, starting again...hopefully I can begin my Emergency Fund again this coming Week when I get paid....Even if it's just a Fiver...Also going back onto my Diet this morning...So feeling positive so far this morning
Thank you everyone for your continued support and for keeping this Thread going when I haven't been able to come on....It's a real pleasure to see how friendly and helpful this Thread is...
And here's to the Updates... xXx
LittleMissDetermined - I've Updated the First Page...You are doing so INCREDIBLY well....I'm so pleased for you. I'm doing okay this morning...it's been a stressful few weeks and few months if I'm honest but hopefully things will turn around over the next few Weeks....Hope you are well too xXx
MelBell2015 - WELCOME WELCOME WELCOME, it's an absolute pleasure to have you here....I've added you to the Members List on the First Page....do let us know how you get on.... xXx
xironsongx - I'm so sorry to hear that you're leaving us, do feel free to come back and rejoin when you feel able to...you'll always be welcome here... xXx
166million - I've Updated the First Page...You're doing AWESOME....Keep it going hun xXx
skye blue - I've Updated the First Page....You are doing BRILLIANTLY....I know you've fought your way here and look how well you're doing....You can do this!! I'm doing okay...better now that my exam is over and done with....I really hope you're doing well too xXx
Committed To Paying Off My Debts AND Saving 3-6 Month Emergency Fund #1 £0/£6000
General £1000 Emergency Fund #13 £0/£1000 Saving For Christmas 2018 £1 per day #13 £4/£750 MSE Sealed Pot Challenge #089 - £276.70 Banked For 2017/2018 - Stars from SueUU x25
Good for you, Helen, taking the time and effort to increase your skills. Must have been hard but it will stand you in good stead for your future. You didn't say whether you'd already had your exam result but here's to a great one anyway. I know you'll be doing your utmost to replenish your EF too
I'm sorry I haven't been around for ages, lots of RL stuff has got in the way. Excuses, excuses eh?. At least I haven't been using any of my EF to cope with any emergencies that arose but it meant I had to spend the money I had hoped to add to my savings instead.
My aim (totally crazy or what?) is to be debt free by the very end of this year and I'm doing everything I can to be extra frugal and save every last penny towards that wonderful day that I never thought would come. Still a way to go but I'll get there in the end. All I need now is for my ancient car to behave itself, not let me down and get through its MOT in July without costing too much. So far so good but we never know what's in store for us do we?
Wishing all you lovely people success with your saving. Once my debts are gone I'll be saving with a vengeance. knowing all the money I manage to put aside is all mine
Last edited by carbootcrazy; 16-04-2018 at 12:30 AM.
Make £10 A Day Challenge 2018: Jan-Mar: £475.38+. Apr: £81.45
Original Debt: £56804 (@ LBM 02/13). Now: £10005. Getting there.
I'd like to join please.
But I'm still building up my first £1,000 .
I will be putting all my savings towards that then once i've made that
i'll be slowing down to save for my wedding (Which is only £2,500 as wme&my FH are splitting costs)
already got the wedding dress sorted though.
I have £184.58 saved towards it
D R E A M E R £1KProject | £8.69 / £2,000 | Wedding £102.90 / £3,000 | House Deposit: £102.89 |
Emergency fund: £102.89 / £1,000
I’ve been awol for a while. Not for any particular reason but have had Easter holidays and we all had the lurgy at one point.
I’m doing a bit pants with money...I seem to boredom spend because I haven’t got a great deal to do. Has anyone any tips to curb that?
I have, however, got my mini goal up to £300 so that’s good, but probably not as good as it could be if I/we didn’t spend money like it was going out of fashion!
I’m going to have a proper read through the last few pages from where I last dipped in. But in the meantime, I hope everyone is well. And positive vibes/virtual hugs to anyone who needs them.x
How are you all doing? It's been a glorious day weather-wise....And that has made me feel really great....
I'm doing much better this Week...I think my life is mostly up and down....perhaps that is the way for everyone...I'm not sure...but this Week seems to be an "Up" week...
I'm starting my Emergency Fund with a Fiver tomorrow....So I'll do my best to keep that going....and start building it back up...
Here's the Updates.. xXx
muppets - I've Updated the First Page...You're doing INCREDIBLE!! Keep on moving forwards... xXx
carbootcrazy - Thank you for your lovely compassionate words....I haven't gotten the results yet, probably not for another 6 weeks...but I'm keeping my fingers crossed....You're doing great so don't be so hard on yourself....You'll get there...we all will xXx
Charleyalmostking - WELCOME WELCOME WELCOME to our lovely friendly group....It's amazing to have you here....I'm unclear what you want to have as your Target....do let me know, it can be a smaller Target to start with if you want to build up slowly... xXx
Anoneemoose - It's good to see you back...I've Updated the First Page...You're doing AWESOME!! xXx
lindez - WELCOME WELCOME WELCOME...it's great to have you here....I've added you to the First Page....Do come and let us know how you're getting on.... xXx
skye blue - Hey Sweetie, I'm doing okay....like I said above it is very up and down for me....but I'm getting there day by day....I wasn't sure whether you wanted me to add the £50 to your Total or not...can you let me know hun? I hope you're doing well xXx
Committed To Paying Off My Debts AND Saving 3-6 Month Emergency Fund #1 £0/£6000
General £1000 Emergency Fund #13 £0/£1000 Saving For Christmas 2018 £1 per day #13 £4/£750 MSE Sealed Pot Challenge #089 - £276.70 Banked For 2017/2018 - Stars from SueUU x25
A small update from me new total £4804.49 aka 53.38%.
Slowly does it
keep on keeping on
Dobbi
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