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

pozza_73

Oooh, I misunderstood it. I am wanting to pay off a credit card with has around £2800 on it. Paid £20 so that is 0.71%

Tiggy10

So I havent posted in a while.

But today I am now at 40%

had to extend my OD a little when i moved house, but paid it off and some more today!

yay:j

Little_Miss_Uni-Debt

Hey loveadove - I'll certainly add you on the next update! Congrats on your progress so far - you're no newbie

hello pozza_73 - You got it right with your 1% being £80. That's the same as me! Some folks are concentrating on one card at a time to break it down further. Do whatever feels most motivating to you. Just getting into the habit of thinking in 1%'s makes you realise how much every payment matters. Great to have you join us!

pozza_73

I am concentrating on one debt at a time. Like others on here, I have produced a table with a hundred little squares and have coloured in my first square. Already plotting how I'm going to get rid of my next square (this credit card is a Vanquis one with an horrendous rate of interest). I am due some extra money in this months wage - some on call money and I worked a bank holiday. Normally I would be pondering what to spend it on but now I'm calculating how many squares that I can get rid off......

1% down - 99 to go!!

squeeeek

Hiya!
Just popping in to join Pozza with my first 1% :j!
I'm also plotting how many percents I can pay on payday!

pozza_73

In a bit of a dilemma:
I hate where I'm living (I mean REALLY hate it), I live in a rented house in one of the roughest areas of Sheffield. I have got a chance to live in a nice flat in one of the nicest area's of the city early next year (I have got 2 cats and it is hard to find rented property with pets). I have started saving for this move, I have estimated that it will cost approx. a grand to pay for the bond, first months rent and moving costs. So I have started a savings account for this. Currently there is £100 in there. Do I pay it off the credit card which would be 3% paid extra or do I keep on saving for my move. I know it makes financial sense to pay of the credit card but I don't want to miss my chance of moving to a nice area!

kittiej

pozza I'd do what made me the happiest because saving and going without as many treats wouldn't feel so bad.

I've done it, I've paid off over half of what we owe on the blasted car :j

No 224, 51% paid to date I am soooo chuffed :j

All downhill from here. Hope everyone else is doing OK, I will read back at other posts over the weekend.

Keep at it everyone :T

SavingSassy

Hi, I've been hiding for sometime but thought I should jump out of the woodwork when I found this thread! It sounds so much more manageable doing this challenge, could I please join?

I do have £3,300 saved in an Isa, so I know I can save to pay my debts off quicker. (I know I'm probably mad not paying some of my debt off with my savings, but I am wanting to buy a house with my bf in the next couple of years - with he debt that I had, we could afford the mortgage, unfortunately didn't have enough deposit between us :cool:

So....
I have two loans :eek: one's at £2800 and the other at £3000, I then have a credit card at £3100....

Writing this down makes me feel sick! I have worked out that I will be debt free by September 2015, this is with the minimum payments and when one debts paid off, the help of snowballing.

i don't want to over stretch myself at first, so could I please do one debt at a time? I'm thinking to start with the credit card debt? It's at 0% but its the only one that doesn't have an end date! Sooner that goes or is reduced, I think the better I'll feel! So my one percent would be £31.

I have just listed 16 items on eBay!!! Off to a good start I hope! Thank you all for being so inspirational, it's been a pleasure reading all of your posts!

SavingSassy

WifeandMummy

Not sure if you saw my previous post asking to join? but I have today reached 4% XXX

pozza_73

Loving this thread - OH got a £10 Sainsbury's voucher for doing some surveys. We were going to a BBQ yesterday and got some drinks to take to it. This meant that we could pay £10 of the credit card. This is a total of £12 of £28 towards my next 1%!!! Hopefully can do it before pay day