The 1% Challenge - 100 ways to make your 1%

grassgirl

hi, i dont know if im added to the list but i've added my first 1%!

Grassgirl (think im number 230?) -1%

lynseydee

Have decided to stop overpaying the mortgage as we are in our overdraft and I thought I could reduce it and the mortgage at the same time but I'm not keeping up as well as I thought I could. Have had a proper sit down this weekend and gone through our finances and am hoping I can get it cleared quite soon. The overdraft stands at £1,942.72 so 1% would be £20.00 rounded up but considering that's what we're charged on a monthly basis I would have to achieve more than that to start reducing it so I guess ideally I would need to be looking to pay the 1% plus the charge which makes it £40.00. This is the minimum I will be looking at paying.

happytails

lynseydee wrote: »

Have decided to stop overpaying the mortgage as we are in our overdraft and I thought I could reduce it and the mortgage at the same time but I'm not keeping up as well as I thought I could. Have had a proper sit down this weekend and gone through our finances and am hoping I can get it cleared quite soon. The overdraft stands at £1,942.72 so 1% would be £20.00 rounded up but considering that's what we're charged on a monthly basis I would have to achieve more than that to start reducing it so I guess ideally I would need to be looking to pay the 1% plus the charge which makes it £40.00. This is the minimum I will be looking at paying.

Would it be possible to swap bank accounts and shift the overdraft to a 0%/no charge one? Or getting a £2000 credit card and clearing it on to the card thus saving you the monthly charge? Not sure if those options are available to you x

liz-paul

Not sure when I last updated but I am now at 39% and will be up to 40% before the end of the month!

lynseydee

happytails wrote: »

Would it be possible to swap bank accounts and shift the overdraft to a 0%/no charge one? Or getting a £2000 credit card and clearing it on to the card thus saving you the monthly charge? Not sure if those options are available to you x

I'm quite happy keeping the account as it is as our incomings are higher than our outgoings. It's just a case of keeping a better eye on the extras we're spending the money on and not getting too lax about the whole thing.

happytails

Good morning! PRactically half way through June already! How did that happen, half way through 2014 soon! Crazy!

Sarah x

grassgirl

Hello

Still don't think I'm an official member of this board yet but I think I'm #230. Grassgirl. Total currently at 9%!!

sonas_baby

Payday Friday so spent last night doing figures, £50 left in bank so now transfered to cc 58% now.

fedupandskint

Overpaid a further £9 to the long term loan account bringing the total to £1120 overpaid so far.

Quiet on eBay for the last month but keeping going for the final push of ridding myself of excess stuff.

3 payments left on the other loan and that'll also be repaid in full, can't wait!

ellesbellesxxx

Hi y'all,
Haven't been on here in agesssss...really good to read through and see how everyone is doing - well done "iwannabeasaver"!
Well I got sidelined by wedding savings! I guess we made that the priority so really now need to sort out the CC and family loan.
So... My latest figures...


1660/2500 is CC
7000/8000 is family loan.
I REALLY want to pay off CC before cmas then put everything into family loan. Heregoes...