📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

1% challenge 2019

Options
1810121314

Comments

  • pavlovs_dog
    pavlovs_dog Posts: 10,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    we've completed our first 1% challenge of 2019 :j came on to report that I had OP'd £60 made from selling old tat on ebay and realised that we would have just £8.64 left to finish the challenge, so I have tilly tidied it.

    1% for us is now £692. Here's to round 2 :beer:
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • pavlovs_dog
    pavlovs_dog Posts: 10,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    £20.20 survey money OP'd. £671.80 to go
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • wildcherry
    wildcherry Posts: 151 Forumite
    Part of the Furniture Photogenic Combo Breaker
    Hi All,

    I wasn't able to make up the extra £150 as hoped last month but I have this month. So another £290 overpayment this month. I'm finding these posts really useful to keep track of how much we are overpaying every month.
    On target for mortgage freedom September 2023
  • pavlovs_dog
    pavlovs_dog Posts: 10,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    £19.40 interest OP'd. £652.40 to go.
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • lexington013
    lexington013 Posts: 335 Forumite
    £578 is 1% for me.
    Yes that looks doable for me.
    August looks like the month I can make a decent payment!
  • 5erge
    5erge Posts: 108 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    edited 8 July 2019 at 1:32PM
    Jan £26.20
    Feb £46.33
    Mar £34.83
    Apr £30.30
    May £27.07
    June £46.91
    July £82.21

    £293.85/£428.08

    Almost at my 1% mark.
    £56/279
  • Rachib
    Rachib Posts: 36 Forumite
    Second Anniversary 10 Posts
    edited 20 July 2019 at 7:49PM
    So since hitting my 1% target I have overpaid another £368.43 in June, and July, helped greatly by the fact it was bonus month.

    My payment to get me to my original 1% actually took me over the 1%, so I've actually overpaid £403.44 of my next 1% :rotfl:.,
    I have calculated this to be £1488.01

    £1084.57 to go to hit this target
    MFW 1% Challenge 2019 - £2,383.44/£1,530 1.56%
    MFW 1% Challenge 2020 - £5,650.46/£1,455 4.00%
  • 5erge
    5erge Posts: 108 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Jan £26.20
    Feb £46.33
    Mar £34.83
    Apr £30.30
    May £27.07
    June £46.91
    July £82.21
    August £22.84

    Not quite the payment I was looking for but better than nothing. I could have paid off a much much larger chunk this month but I am sticking to my principals of rounding it down to the next 100.

    This means September will definitely drop me into the 39k range. Reckon I am on track to achieve 1.5% before the end of the year.
    £56/279
  • pavlovs_dog
    pavlovs_dog Posts: 10,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    £20.19 OP'd (survey money and a Tilly tidy). £632.21 remaining.

    Onwards and downwards!
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • Yorkielass
    Yorkielass Posts: 2,235 Forumite
    Part of the Furniture Combo Breaker
    Things are still up in the air with us setting up a regular overpayment while we finish our house refurbishments but I'm itching to get going with my mortgage so when I came across this I thought it was a great idea.

    1% of our mortgage was £1750 when it started last October so I'm going to do with that as a target to work to. Going to see what I can build up and then do an overpayment.

    Starting small with £18.57 cashed out of Qu!dco.

    Thanks for the idea.
    Initial Mortgage January 2024 - £160,000
    Initial Mortgage free date - January 2058
    Mortgage as of 1st February 2024 - £159,134.98
    Overpayments to date - £79.62
    Current Mortgage free date - January 2058
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.