In March 2022, a €900 car repair bill nearly derailed the Dunphy family's month. Liam and Clare Dunphy had a combined take-home of just over €4,200 per month, two children in primary school, and a mortgage. They had no savings buffer. The repair went on a credit card. That moment prompted a deliberate decision: they would build a three-month emergency fund regardless of how long it took.
The calculation they started with
Clare calculated their minimum monthly expenses — mortgage, utilities, food, insurance, school costs — and arrived at €2,800. Their target was €8,400. On their current budget, saving even €200 a month felt difficult. They needed to find the money somewhere within existing spending.
The 14-month process
They cancelled four subscriptions totalling €54 per month, reduced the grocery budget by meal planning every Sunday, and directed Liam's occasional overtime pay entirely into a dedicated savings account. In months where nothing extra came in, they saved €180. In stronger months, they saved €400 or more. The fund reached its target in May 2023.
What changed after
A boiler service bill of €320 in October 2023 was paid from the fund without stress. Clare says the psychological shift — knowing the buffer exists — has changed how they approach monthly spending decisions. The fund is now being maintained rather than rebuilt.