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

scoodies

Helloooo!

Been a few years since I posted on here and I am sad to say I need motivation - again (

I managed to clear the majority of my debt back in 2013 by doing this challenge but now I find myself back with 11500 quid to pay off! I am so angry with myself but I am also very determined to succeed yet again.

So, my 1% is £115. Let's get started.........

LionessInWinter

We are down to 94% paid off of the credit card debt, just another £1500 to go.

LionessInWinter

Down to £1150, would have been £0 but spent money on flights

beach-holiday

I've been away from the forum for far too long and the debts are still sitting there taunting me :mad:! So, another attempt at the 1% challenge is needed :T!

I'm going to tackle my H4lif4x CC, balance of £3,858 so 1% = £39. I've set up my grid and can't wait to start colouring it in! I've got £22 set aside so far, so hoping to add to this very soon and get the first 1% under my belt.

Well done LionessInWinter! You've made great progress and been so consistent (a habit I need to learn!).

beach-holiday

beach-holiday

Happy dance is underway!

Just made my first 1% payment of £39 :T, plus with my new statement balance, another 1% has come off because of my regular payment :T. Very happy to have coloured in the first 2 squares of my grid!

b-h

beach-holiday

I've been able to make another 1% payment today, so that's 3% paid and another square of my grid coloured in! I'm very pleased with progress, especially with it being January :T!

b-h

LionessInWinter

Thanks beach holiday

It's been a long process but now at 99% paid off credit cards, next targets are car and student loan. Which I will start a new % chart. 1% will be £130, yikes.

Let's keep going everyone

Thora

I'd like to join
My 1% value is £30.00 and would like to save £3,000 by April 10th 2017
i've already saved £1,460.93 (48.70%)

beach-holiday

Welcome Thora! Keep us updated with your progress

Great stuff LionessinWaiting! Congrats on getting to the end and good luck with your next 1% challenge!

I've received the monthly statement today and have been able to knock off another 1% and colour another square ! I was kind of expecting to be able to do this, but wanted to wait for the statement just to be sure. My monthly payment has also reduced by £5, so that's an easy "extra". Onward to February now and more 1%s .

b-h

happytails

Happytails checking in again - after far too long! Ive been browsing the forums for weeks but thought i best come here and do some totals.

Ive just taken on a second job so from March I will be making a dent into the CC and a house move savings pot.

Loan - £11200 - 1% is £112 - We pay off just over 3% per month - 3% paid this year
CC1- £1800 (0% deal) - 1% is £18 - 0% paid this year (expected 3% a month minimum payment)
CC2 - £4000 (0% deal) - 1% is £40 - 0% paid this year (expected 1.75% a month minimum payment)
Overdraft - £509 - 1% is 5.09 - 0% paid this year
Mum - £1736 - 1% is £17.36 - 0% paid this year

House move - £6000 -1% is £60 - 0% paid this year

The plan is to pay off the overdraft first, then cc2 whilst saving for house move. Loan will be steadily paid off at 3% a month in this time.

Hopefully we will be selling up and moving house this year so we are going to pay off the remainder of the loan with our equity and clear that and pay my mum off £1736!

Once we've moved we will be tackling the final credit card, with the longest 0% deal.

Looking at doing most of this in 2017 - lots of sorting house and selling unneeded bits at the moment, currently doing house up to get the best valuation for it and getting it on the market. Been lurking in the house buying/selling sub forum alot

Going to try to be on this board a little more too!