1% challenge 2019

twinklie

DD265 wrote: »

Honestly, I can't see us managing the full £1500/1% this year but I'm going to stick around anyway and see where we get to. I reviewed our finances and the emphasis really needs to be on paying off the credit cards/building a larger emergency fund.

This is where we are, so I didn’t join. But I am following.

5erge

DD265 wrote: »

I'm pleased to report that we've made a mortgage overpayment - 1.92% of our 1%. It's pitiful but it's a start. :rotfl:

Still an over payment though :T

pavlovs_dog

Nice to see lots of new faces joining in.

it doesn't matter how pitiful the amounts are, it's all sending your debt in the right direction.

£27.42 of 'free' money OPd (£5 from swagbucks and the rest from prolific).


£380.15 to go

MrsElliot

Argh! We could have been at our 1% target but threw £600 stashed away in savings at paying a big chunk towards the family car (APR 11.9% interest repayment as opposed to the mortgage 2.24%) this has lowered our monthly car payment which should help our monthly outgoings. (we had to buy the car due to growing family and the old car was on its way out as well as the ZERO ncap rating!). We still have emergency savings if we need it!

However did a quick tot up with our 2019 mortgage overpayments and we are currently standing at:

£262.29 paid/£808.19 target so we are still on track to get that 1% paid this year (just over 32% of target paid)!

hope everyone remains motivated and doesn't forget every little payment helps!

wildcherry

Hi All,

Payday last week and another £150 added to the overpayment with an additional £80 as we have been able to pay for hubby's insurance annually which has meant we can now set up an additional overpayment of £80 every month. This should mean a total overpayment of £230 per month.

5erge

MrsElliot wrote: »

Argh! We could have been at our 1% target but threw £600 stashed away in savings at paying a big chunk towards the family car (APR 11.9% interest repayment as opposed to the mortgage 2.24%) this has lowered our monthly car payment which should help our monthly outgoings. (we had to buy the car due to growing family and the old car was on its way out as well as the ZERO ncap rating!). We still have emergency savings if we need it!

Your family safety always takes priority. For years I drove around in cheap old high mileage bangers but took the decision to purchase a hybrid Golf last year and traded my 250,000 mile BMW, taking advantage of the £5000 VW gave me as part of their scrappage scheme. My fuel costs halved but more important is that my family are driving round in a 5* ncap car.

Here is how I prioritise my income.

Safety/Mortgage
Council tax
Food
Savings

5erge

Jan £26.20
Feb £46.33
Mar £34.83
Apr £26.25

Leaving £294.47 left to get to my 1% mark of £428.08. More things I have paid for recently include a holiday deposit and my six monthly water rates. I am still aiming to get under 40k by June/July, that will be a nice little milestone.

Barny1979

£100 paid off today, £300/£1,809 for the year

pavlovs_dog

Another £32.39 sent mortgagewards today.

£347.76 to go

Rachib

So after a busy month in March I think in April I could be back on track.
March £57.29
April so far..... £100.88

This means I'm at £897.32 of my £1,530 target. (58.65% of my target or 0.59%) - £632.68 to go