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

happytails

Sounds like everyone is doing brilliantly!! I sold something for £6.50 so after postage i think it will be £3.90 :mad: but atleast its sold and more pennies here.

Not sure how much we are putting towards paying off the overdraft now as the husband wants to put some aside for the tax man (He owns his own business) so we will see when we get paid. We owe £1200 on it so id like to see it go down 50% to £600. Which is alot but we had planned on clearing it.

Got my £20 off music magpie and ive relisted some things on Ebay (9 items). Really wanted to list loads but just didnt find the time this weekend! Really tempted to just list a load of stuff on FB and put £1 each collection only just to get things out of the way. I have about 100 items of baby clothes to go and other stuff but i really need the room now!

Pay day tomorrow YEY x

melodramaticme

Another 1% to declare this month.:beer:

#196 Loan £235.20/£6200 3.8%/100%

Slow and steady but also managing to add to my emergency fund and savings a little bit at a time.:T

Little_Miss_Uni-Debt

prettyplease wrote: »

.... do you think it is cheating to add my 0% minimum repayments to my paid off total as technically these are paying pure debt without interest?

Your payments are reducing your debt down so you defo should add them towards your percents!

Normally we don't count min payments because they're mostly interest and you will incur charges if they are not paid. As you are on 0% interest then everything you pay is reducing your debt down! :T

I think it's very important for everyone to work out their progress based on their most recent balances and not on the extra they've earned. That way it is a true reflection of what you have paid off. Sometimes the extra money we earn never makes it to the cards, due to car repairs, unexpected bills etc.

I know I've earned 25%+ through doing tasks on the list but only 20%+ of that has reached my cards. It's good to get into the habit of checking balances regularly and seeing actually what is left to pay.

Also if you save money (e.g I took lunch from home, walked instead of bus) you actually put the cash to your cards for it to count towards your percents.

If in doubt, add up what you still owe and divide it by your 1% payment. That's how many percents are left to pay. e.g I have 80% left to pay and I have cleared 20%

Hope everyone is doing well! :j

FallenArcher

Hi all, sounds like everyone is going great guns!!! Well done! :beer:

For what it's worth, depsite being on 0% deals for most of my debt when I started this challenge, I only ever count the "extra" payments towards my debt for the percentages - it just keeps things easier! In fact, for this last credit card I have the DD set for £100 rather than a minimum payment (makes the maths much easier!) so that just comes off debt total automatically, but any additional payments I make is declared as a percent for this challenge. In hindsight as it's been 0% since starting the challenge, I probably should have set my DD's to be £90 (my percentage amount) and recorded each one when it was paid!!!

So.... my wife has had her first full month's pay since last August!!!! Amazing We decided to put a little bit back into the car expenses pot - as this got cleared out last month thanks to a £500 bill!!! And she's going to buy the guy who gave her lifts to work when she was unable to drive a £50 voucher for a local restaurant (he wouldn't accept petrol money!), and we even went out for an expensive dinner out to celebrate her being back to health. Of course, with the rest it's gone to normal expenses and a 4.5% overpayment on the last credit card!! Woo hoo!

So, member #164 reporting in with 56% made and paid.

Ebay really has been good to me this month, after all packaging materials/postage and fees were paid, over the month I've withdrawn £395.69 (although £126 of this was my wedding dress) - pretty amazing really, spent about £30 of that, but the rest straight to debt. My spare room has been taken over with items to sell mind you: - this weekend I did 47 new listings, and have got 77 re-lists on there! Plus over 2 bin liners worth of stuff that I haven't got listed yet; and about 8 bin liners worth of stuff that will go straight to carboot rather than ebay. hopeful for some good sales by the weekend!!! We shall see.

I'm also really excited that as soon as I manage to make my next percent we'll be down to just a grand's worth of debt :jProviding no catastrophes we should be debt free this time next month - big pile of excitedness!! Thanks to everyone for their regular posts - it really has helped to keep me motivated

Right, bedtime, gotta run to work in the morning to save on bus fare - got a late meeting so getting a lift home, hence can't bike in!! Night all :rotfl:

happytails

Wow FallenArcher thats one heck of a good amount earned on Ebay!!

Well not sure what is happening to either of our debt repayments yet. The husband needs to decide what he wants to do quickly before our bills come out and i cant reduce the overdraft. *sigh* Paid £154 today for my car tax, 6 months worth mind, so need to remember i have to pay it again Nov 1st :mad:

Need to order a bulk lot of formula for DD and some other bits later. Its my brothers birthday today also and we never got chance to order the stuff we needed to make him a present so this is the first adult present ill have to buy today Ill probably get him a voucher and some beer.

Really should be baking now as got a friend due round at 12, need to bake cakes and tidy up! House is a tip as usual.

Sarah x

AGirlWrites

Hello, I'd like to join:

AGirlWrites - 1% = £75

I am aiming to pay off 5% each month additional to my minimum payments.

Thank tou

kettlenic

Thank you to whoever started this thread!!

I have a couple of CC's and OD's and its overwhelming

But I have decided to tackle one at a time!

first CC - £3500 so 1% is £35 (much better!!) I started today and have already put in 4%, looking to sell a couple things on ebay and recycle and old phone - which is worth £100 at the moment so it will keep ticking along

I have also printed out a chart with 100 blocks so we can keep ticking them off!! Thanks again = makes it so much easier to do!:D

craftingmad

Hi all,

Well I still have'nt got to the bank to pay in my £50 earned from my last craft fair yet (I am deffo gonna get there tomorrow !!) but I can report that I have just transferred over £100 into the savings account = 2%. :j

This came from our savings accounts. I never declare this money we save each month in a regular saver as I class it as joint money so not earnt/saved by me. However this year when they matured we were very short on interest earned. :mad: I complained to the bank who looked into the matter and as well as giving us the interest we were owed on the two savings accounts (£48), they also included a payment of goodwill and compensation of £100. Bonus - so this has been added to the savings pot and I am going to declare it as, without me complaining we would not have got it at all.

I know its cheating a little bit but I'll take %'s however they come!!!

So:-

Member 17 = 28% :j:j:j:j:j:j

craftingmad

me again,

can't beleive no-one has posted since my post yesterday - must have said something wrong - sorry

well i have finally managed to get to the bank to pay in craft fair earnings from the weekend (£55). Plus I had a cheque arrive today for a refund of a magazine subscription I cancelled so another £27.50 has been added to the pot from that.

so:-

Member 17 = 30% :j:j:j

Got two more craft fairs booked for this bank holiday weekend so hopefully will have more to report soon.

Keep %'ing everyone.

kittiej

hi everyone

Another 3% paid so 31% to date

It's coming down nicely! Well done everyone :T