Guinea Pig Fund - How much to save?

[KimberleysWheekers]

Hi

I've read a couple of threads about people having guinea funds for emergencies. I was just wondering (if it isn't too nosey to ask!) how much people put away each month?

I'm going to start transferring some monthly into an account, but I don't know how much? I was thinking £50 (I've got two piggies). I have a c/card I can use as a back up incase the fund isn't big enough and I need some money soon-ish.

But once the money is saved, my plan is to pay by c/card as and when I need to and then transfer the money directly from my savings account to re-pay the card that day, because my savings account doesn't have card.

Does £50 p/month sound sufficiant? Obviously, if there are no emergencies, the money saved will just increase, but I have read that some people have spent hundreds of pounds in very short spaces of time and I don't want to rely on a c/card without being able to pay off at least some straight away.


Thanks p

 

[teadragon]

I have £50 per pig. With three pigs I have £150 in my emergency fund.

Once I have £150 I add small amounts to the emergency fund each month to let it increase - this turns my emergency fund into a "piggie fund". I then worry when I hit my £150 emergency fund amount, because it means I have to dip into other accounts to buy things for my pigs (like hay, food, toys). Dipping into other accounts isn't so good when I have rent and electricity to look forward to.



My biggest vet bill, for an x-ray and urinalysis was £200

 

[KimberleysWheekers]

Once I have £150 I add small amounts to the emergency fund each month to let it increase - this turns my emergency fund into a "piggie fund".

Ooo good idea, set a minimum 'emergency' amount and then the rest is for goodies I like it, thanks!

p

 

[Wiebke]

I would recommend that you have an emergency fund of £200-250 which should cover you even for a biggish emergency and an operation without having to dig too deeply into your other money. It is amazing how costs can mount up if you need out of hours treatment etc...

 

[Laura-CCC4]

My ideal is £100 per pig (that means £1200 for my lot....eeek! - I had better start building on the £200 I currently have rolleyes), but a basic fund of the amount Wiebke recommended (£200-£250) would be a very good plan. I think to start off, put in at least £100 and build on it each time you can. The more you can save, the more comfortable you will feel when faced with a large vets bill!