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  • FIRST POST
    • DreamerHelen
    • By DreamerHelen 20th Oct 15, 8:30 AM
    • 2,559Posts
    • 13,689Thanks
    DreamerHelen
    3-6 Month Emergency Fund Challenge!!
    • #1
    • 20th Oct 15, 8:30 AM
    3-6 Month Emergency Fund Challenge!! 20th Oct 15 at 8:30 AM
    MoneySavingExpert.com Official Insert:

    Our Moneysavers have been joining this challenge since 2015 and it's still going strong! Why not join in?

    Back to DreamerHelen's original post...


    Morning Everyone....


    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




    CHALLENGERS
    1) DreamerHelen - GOAL: 6000 CURRENTLY: 0/6000
    2) Dobbibill - GOAL ONE: 9000 CURRENTLY: 9000/9000 - COMPLETE!!
    2) Dobbibill - GOAL TWO: 9000 CURRENTLY: 5383.67/9000
    3) Patman99 - CURRENTLY: 631.65
    4) LittleMissDetermined - GOAL: 7129 CURRENTLY: 6050/7520.80
    5) Sophieo16 - GOAL: 3000 CURRENTLY: 3000/3000 - COMPLETE!!
    5) Sophieo16 - NEW GOAL: 4000 CURRENTLY: 2862.51/5000
    6) Crv1963 - INITIAL GOAL: 7800 CURRENTLY: 10/7800
    7) Mothernerd - INITIAL GOAL: 1000 CURRENTLY: 1000/1000 COMPLETE!!
    8) Stewby - GOAL: 2000 CURRENTLY: 230.76/2000
    9) stoplurking - GOAL: 4000 CURRENTLY: 2160/4000
    10) crazy_cat_lady - GOAL: 6338 CURRENTLY: 346.92/6338
    11) stormpassing - GOAL: 5400 CURRENTLY: 30/5400
    12) carbootcrazy - GOAL: 5000 CURRENTLY: 3733/5000
    13) Munchin - GOAL: 6000 CURRENTLY: 1300/6000
    14) traveller - INITIAL GOAL: 1000
    15) Freysmum - GOAL: 8500 CURRENTLY: 8500/8500 - COMPLETE!!
    16) The Only Girl - GOAL: 12,000 CURRENTLY: 9425.89/12,000
    17) Southern-girl - GOAL: 5000 CURRENTLY: 437/5000
    18) dubsteppenguin - GOAL: 5000 CURRENTLY: 250/5000
    19) DuranGirl - GOAL: 6000 CURRENTLY: 5000/6000
    20) WantToBeSE - GOAL: 5000 CURRENTLY: 1000/5000
    21) black cat - GOAL: 6000 CURRENTLY: 6000/6000 - COMPLETE!!
    22) lexbubbles - GOAL: 4600 CURRENTLY: 2158.63/4600
    23) ani*fan - GOAL: 3000 CURRENTLY: 40.29/3000
    24) Keeping Motivated - GOAL: 6000 CURRENTLY: 6000/6000 - COMPLETE!!
    24) Keeping Motivated - NEW GOAL: 6000 CURRENTLY: 3790/6000
    25) rylee12 - GOAL: 6000
    26) Rosylee - GOAL: 8850 CURRENTLY: 60/8850
    27) BlackFrosting - GOAL: 2700 CURRENTLY: 69.37/2700
    28) Westbeef - GOAL: 5000
    29) skye blue - GOAL: 3000 CURRENTLY: 1440/3000
    30) MrsSave - GOAL: 5000 CURRENTLY: 1241.36/5000
    31) crimson.addict - GOAL: 10,000 CURRENTLY: 350/10,000
    32) linc1205 - GOAL: 20,000 CURRENTLY: 20/20,000
    33) Brass_Triumphant - GOAL: 5000 CURRENTLY: 450/5000
    34) Christa27 - GOAL: 3000
    35) Wishfullthinking2 - GOAL: 4500
    36) x_raphael_xx - GOAL: 5050 CURRENTLY: 1000/4000
    36) x_raphael_xx - GOAL 2 (Mum's Money) CURRENTLY: 0/1600
    37) moneymakestheworldgoround - GOAL: 3000
    38) georgiebrown0 - GOAL: 6000
    39) Sharon87 - GOAL: 1500 CURRENTLY: 330/1500
    40) BabyBetty - GOAL: 5000 CURRENTLY: 276/5000
    41) -Selene - GOAL: 5000 CURRENTLY: 691.69/5000
    42) Thistlewhistle - GOAL: 5000 CURRENTLY: 2500/5000
    43) abundant1972 - GOAL: 4500 CURRENTLY: 2275/4500
    44) castlelough - GOAL: !!!8364;3000 CURRENTLY: !!!8364;86/!!!8364;3000
    45) MLAB - INITIAL GOAL: 450
    46) milasavesmoney - GOAL: $15000 CURRENTLY: $11,273/$15000
    47) WatWing - GOAL: 3900 CURRENTLY: 250/3900
    48) happytails - GOAL: 8400
    49) Grandad's Offspring - GOAL: 5000 CURRENTLY: 80/5000
    50) Smodlet - GOAL: 3000 CURRENTLY: 325/3000
    51) JCUK - GOAL: 6000 CURRENTLY: 1250/6000
    52) Mooloo - GOAL: 4000 CURRENTLY 596/4000
    53) aphill24 - GOAL: 5000 CURRENTLY: 1100/5000
    54) evo5819 - GOAL: 3000
    55) mum-to-many - GOAL: 3000 CURRENTLY: 306/3000
    56) oh2bdebtfree - GOAL: 6000
    57) Keedie
    58) AnxiousHomemaker - INITIAL GOAL: 500 CURRENTLY: 15/500
    59) PoorGuyNextDoor - GOAL: 5300
    60) angelicious - GOAL: 7200 CURRENTLY: 270/7200
    61) misselvis - GOAL: 6000
    62) benten69 - GOAL: 10,750 CURRENTLY: 230/10,750
    63) TopsyMum - GOAL: 1000
    64) Poor_Single_lady - GOAL: 5000 CURRENTLY: 80/5000
    65) swimminginaseaofdebt - GOAL: 9000 CURRENTLY: 910.40/9000
    66) Dragon Lily - GOAL: 3000 CURRENTLY: 1270/3000
    67) FrugalinShropshire - GOAL: 7200
    68) Determined diva - GOAL: 2000 CURRENTLY: 1050/2000
    69) muppets - GOAL: Euro 15,000 CURRENTLY: Euro 4700/15,000
    70) dfbefore30 - GOAL: 5000 CURRENTLY: 5000/5000 - COMPLETE!!
    71) indigowarrior - GOAL: 6000
    72) angelpye - GOAL: 4200
    73) HoneyBee83 - GOAL: 1000 CURRENTLY: 1200/1000
    74) wegle - GOAL: 6000 CURRENTLY: 548.23/6000
    75) Hillwalker17 - GOAL: 6000 CURRENTLY: 1000/6000
    76) Doglover - GOAL: 7500
    77) NewMeNewLife - GOAL: 5000 CURRENTLY: 300/5000
    78) Bumblebear - GOAL: 5670
    79) lilyflower7 - GOAL: 3000 CURRENTLY: 519.23/3000
    80) Dogbooks - GOAL: 9300 CURRENTLT: 950/9300
    81) kazt2006 - GOAL: 10,000 CURRENTLY: 7900/10,000
    82) Jellybeans&FF - GOAL: 9000 CURRENTLY: 20/9000
    83) Moneybutterfly - GOAL: 1000 CURRENTLY: 270/1000
    84) moneymanager - GOAL: 1500
    85) fruitloop04 - GOAL: 6000 CURRENTLY: 1000/6000
    86) peedie - GOAL: 6000
    87) datlex - GOAL: 10,750 CURRENTLY: 10,750/10,750 - COMPLETE!!
    88) Anoneemoose - MINI GOAL: 931 CURRENTLY: 300/931
    89) SamSam17 - GOAL: 5000 CURRENTLY: 2627.58/5000 COMPLETE!!
    90) 166million - GOAL: 10,000 CURRENTLY: 637/10,000
    91) A Random Man - GOAL: 4500
    92) Littlebigmoose - GOAL: 1000
    93) kimplus8
    94) claireg86 - GOAL: 6000 CURRENTLY: 605/6000
    95) Cherbear82 - GOAL: 2000 CURRENTLY: 100/2000
    96) mylastpound - GOAL: 2000 CURRENTLY: 1000/2000
    97) moneyonmymindsam - GOAL: 4389 CURRENTLY: 1/4389
    98) MelBell2015 - GOAL: 2100
    99) Charleyalmostking - GOAL: 1000 CURRENTLY: 100/1000
    100) lindez - GOAL: 6000 CURRENTLY: 180/6000
    101) July257 - GOAL: 1000
    102) Treasurequeen - GOAL: 2000
    103) Dolly Rocker - GOAL: 7000 CURRENTLY:140/7000
    104) stoopy - GOAL: 10,000 CURRENTLY: 739.25/10,000
    105) zippygeorgeandben - GOAL: 17,064 CURRENTLY: 12,081/17,064
    106) smurphington - GOAL: 3500
    107) katsoocam - GOAL: 15,000 CURRENTLY: 15,000/15,000 - COMPLETE!!
    108) apricity - GOAL: Undecided CURRENTLY: 100
    109) ka11yz - GOAL: Undecided CURRENTLY: 2300
    110) Missymae0 - GOAL: Undecided CURRENTLY: 1350
    If you haven!!!8217;t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Tine; 20-11-2018 at 11:11 AM.
    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 0/500
    MSE Sealed Pot Challenge #089 - 276.70 Banked For 2017/2018 - Stars from SueUU x25
Page 99
    • stoopy
    • By stoopy 31st Jul 18, 10:30 PM
    • 54 Posts
    • 428 Thanks
    stoopy
    I just got a cheque for half the excess for an insurance claim from 2 years ago! So 175 banked. Total now 440
    Grocery Challenge Jul 380.75 Aug 637 Sep 539.82 Oct 53.43 / 475
    EF 3-6 challenge #104 739.25/10000
    MFW2018 #183 0/2000
    • swimminginaseaofdebt
    • By swimminginaseaofdebt 1st Aug 18, 9:51 PM
    • 823 Posts
    • 5,125 Thanks
    swimminginaseaofdebt
    Evening everyone,

    #65 reporting in with an updated total of 910.40.
    SPC11 #564 - 186.83
    SPC12 #22 - In Progress
    Stars from Sue -
    • Dobbibill
    • By Dobbibill 2nd Aug 18, 10:32 AM
    • 3,417 Posts
    • 4,441 Thanks
    Dobbibill
    #2 checking in

    new total 5253.67 aka 58.37%

    a little closer towards my 60% target.

    keep on keeping on.

    Dobbi
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • katsoocam
    • By katsoocam 3rd Aug 18, 8:46 PM
    • 91 Posts
    • 275 Thanks
    katsoocam
    Have been a bit lucky and also spoilt. An elderly relative died in Jan and left my Mum some money. The will has just cleared probate and she has decided she doesn't want the money, and will split it between my brother and I. I don't quite know how much there will be, but there should be a good chunk towards the emergency fund - she is unsure but perhaps enough to finish it.
    Combined with the news about interest rates, which I'm hoping will mean a few higher rate easy access accounts I can put the fund in, it's definitely a good day! Will keep you updated when the money arrives.
    • lindez
    • By lindez 6th Aug 18, 6:23 PM
    • 397 Posts
    • 1,601 Thanks
    lindez
    #100
    60.00 today total so far 180.00 = 3%
    Thank you Helen x
    Last edited by lindez; 08-08-2018 at 4:46 PM. Reason: total wrong
    Payment A Day Chapter 18:
    MFWB#44
    • apricity
    • By apricity 7th Aug 18, 7:45 AM
    • 124 Posts
    • 329 Thanks
    apricity
    i'd like to join please,
    I'm working on my first 1,000 then I will build it up from there.

    I have stashed away 50.00 into my emergency fund,
    However I am currently out of a job so if worse comes to worse
    and I don't get a job before September 7th, I would be using my wedding fund to help cover
    & work with my fiance

    But i'm feeling rather good about today
    SPC #017 - 0.50
    • Dobbibill
    • By Dobbibill 7th Aug 18, 10:17 PM
    • 3,417 Posts
    • 4,441 Thanks
    Dobbibill
    i'd like to join please,
    I'm working on my first 1,000 then I will build it up from there.

    I have stashed away 50.00 into my emergency fund,
    However I am currently out of a job so if worse comes to worse
    and I don't get a job before September 7th, I would be using my wedding fund to help cover
    & work with my fiance

    But i'm feeling rather good about today
    Originally posted by apricity

    Welcome aboard apricity.

    Baby steps are an excellent way to get to your goal.

    When Helen pops in she will give you a number and add your target and progress to the first page.

    Well done on making a start. Good luck with the job hunting & the big day (whenever that may be )

    Keep us updated with your successess and challenges, no matter how big or small - we will be here cheering you on from the side lines.

    Dobbi
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • katsoocam
    • By katsoocam 8th Aug 18, 5:22 AM
    • 91 Posts
    • 275 Thanks
    katsoocam
    I feel like it is cheating really but the first chunk of my inheritance has arrived and it has been enough to complete my emergency fund. So I am 15000/15000, 100% complete.
    • apricity
    • By apricity 11th Aug 18, 7:07 PM
    • 124 Posts
    • 329 Thanks
    apricity
    Congrats, katsoocam!

    And thank you for the warm welcome,
    Dobbibill!

    I got a job! I start monday , i'm really excited.
    But i'm not out of the woods yet. It depends on how much my past job has owed me & from my new job too. it just may not be enough for the next month. I'm trying to be careful with my money now - had a spendy week.

    I did use the 50 as I needed to pay 20 to replace my lost I.D and to get a filling done as my tooth was so painful but I managed to put 135 in the fund instead. I did take out 100 from my wedding but I was just thinking to myself , even though I would love to get married, I also have to think about the house we are in now and if we do find our selves in a situation, how are we going to cover it.

    it's only 100 - I can easily replace that once I am settled and in a routine at my new work
    SPC #017 - 0.50
    • skye blue
    • By skye blue 11th Aug 18, 8:03 PM
    • 143 Posts
    • 654 Thanks
    skye blue
    Hi (No 29) here, sorry keep forgetting to put my number

    You doing ok helen

    Please add 60 to my total (1,410) nearly halfway

    Ive had a couple of ebay sales, sold some books and drawn some survey money plus i was given some petrol money for taking a family member on a few errands but ive added that to my bank as ive put my petrol in for the month so hopefully i shouldn't need it

    have a good weekend everyone
    • Ka11yz
    • By Ka11yz 11th Aug 18, 8:49 PM
    • 17 Posts
    • 7 Thanks
    Ka11yz
    Can u add me plz for 2300 for 5 aweek would love to take my little girl away
    • katsoocam
    • By katsoocam 12th Aug 18, 6:03 AM
    • 91 Posts
    • 275 Thanks
    katsoocam
    Great news apricity! What job did you get?
    Mortgage Balance: 309586.78
    Total Savings: 51221.04
    ISA: 156616.18
    3-6 Month Emergency Fund Challenge No. 107 15000/150000 100% Target Achieved
    Sealed Pot Challenge Number 11 No. 52
    • Dobbibill
    • By Dobbibill 12th Aug 18, 10:23 AM
    • 3,417 Posts
    • 4,441 Thanks
    Dobbibill
    Can u add me plz for 2300 for 5 aweek would love to take my little girl away
    Originally posted by Ka11yz

    Hi Ka11yz - of course we will add you. Welcome to the challenge

    Helen will add your name, number, target and progress to the first page when she pops in.

    Keep us updated with everything - all the best.

    Dobbi
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • apricity
    • By apricity 12th Aug 18, 11:47 AM
    • 124 Posts
    • 329 Thanks
    apricity
    katsoocam It's still a childcare job (My previous job that i was fired from was looking after 2-4 year olds in the same room of a very big corporate childcare company)
    But it's for a much smaller independent nursery looking after 3m-2years.
    It seems to be a better fit and much more 'chilled' and also it has easier ways to complete my jobs as the observations & reports are all done on the Ipad with a system that I have good knowledge of. It also looks like I won't have a large number of key children because of the size of the room.

    in my previous job, I had 11 key children & had to hand write 18 separate observations for each child within 1 or 2 months ... and in 1 month I had to do that , get school reports done for the school leavers & also normal reports for the non-school leavers....as well as making sure the books were all updated with everything in. it was so stressful!



    My Emergency fund progress
    I moved the little savings into my emergency fund.
    I did put away 12 for home products & 15 for new home but decided that I should be focusing on emergency fund before anything else.

    Total is 173.00

    I may need to use this at the end of the month as I may get slightly less wages because of me not finishing the full month in my old job & also because i'll only be in my new job for 2-3 weeks before cut off date etc.

    Not out of the woods yet unfortunately
    SPC #017 - 0.50
    • Mooloo
    • By Mooloo 15th Aug 18, 7:28 AM
    • 10,142 Posts
    • 50,736 Thanks
    Mooloo
    I haven't really had anything much to report for a long time but yesterday I received a back payment on my Guardian ship funds, so it's all gone into my emergency Funds. Which means that I have 596 now. Feeling that there is a little light at the end of the tunnel financially now. Able to pay myself 100 a week again from my business, although my bank account is hovering just above the overdraft, so still a long way to go till financially free!
    When I die I will know that I have lived, loved, mattered and made a difference, even if in a small way.
    • stoopy
    • By stoopy 15th Aug 18, 1:13 PM
    • 54 Posts
    • 428 Thanks
    stoopy
    Number 104
    Checking in with 15 monthly savings plus a refund for a delayed train (39.25)and a refund of a penalty charge from HMRC (245)
    Total now 739.25
    Grocery Challenge Jul 380.75 Aug 637 Sep 539.82 Oct 53.43 / 475
    EF 3-6 challenge #104 739.25/10000
    MFW2018 #183 0/2000
    • apricity
    • By apricity 15th Aug 18, 7:50 PM
    • 124 Posts
    • 329 Thanks
    apricity
    funds down to 116
    SPC #017 - 0.50
    • Dolly Rocker
    • By Dolly Rocker 19th Aug 18, 10:21 AM
    • 4,200 Posts
    • 12,191 Thanks
    Dolly Rocker
    103) Dolly Rocker - GOAL: 7000 CURRENTLY:140/7000
    Not much been happening with my emergency fund but I have a cheque for 50 coming next month from my surveys which I am going to add straight to the pot!

    Dxxx
    Debt Free 2018 12754.09 - PIF 30.11.18
    Goal Weight in 2019 30lbs/91lbs
    SPC#13 71.50
    My Home Fund 27
    26th November 2018 - I have 2 Nationwide Referrals available, PM me if you want 100 to switch accounts
    • apricity
    • By apricity 19th Aug 18, 12:50 PM
    • 124 Posts
    • 329 Thanks
    apricity
    guys starting again - My total is 100 in my bank account.
    I need to be more disciplined and will be more careful now.
    I CAN do this ... I find this goal difficult with so much going on right now.

    but i have 20 i've taken out for emergencies to keep in my purse.
    SPC #017 - 0.50
    • Missymae0
    • By Missymae0 20th Aug 18, 11:53 PM
    • 82 Posts
    • 188 Thanks
    Missymae0
    Hi ��

    I have been following this thread for a while but held off joining until I had completed the 1000 emergency Fund challenge which I now have ��

    We are self employed so really need a proper emergency Fund that would cover our mortgage and bills if something should go wrong so I would like to set me initial target at 3 months so 7500 please?

    I’m starting with 1350

    You’re all lovely and supportive of each other and I’m very happy to finally stop lurking and get involved
    Emergency fund 1700/1000

    SPC 11 #084
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