1% challenge 2019

lassfarfromhome

This is such a great idea! 1% for me is £500. Annoyingly I can only make overpayments if they are £500 or over. With my old offset mortgage which i wish i still had i could overpay 20p if i wanted. Anyway, I overpay from my salary about £500 per month but here I'm going to keep track of other little bits of money that turn up now and then and which will go into my marcus savings a/c until there is £500 to pay off.

Rachib

Another couple of overpayments this last week ... totalling £162.10.
So I'm now at £1,162.10 of my £1,530 target -so at 76% of 1% target

£367.90 to go. :j

pavlovs_dog

£77.99 OP'd (£35.30 from Quidco, £18.54 interest and £24.15 TT)

This leaves £68.64 to pay of our 1% challenge and also takes our mortgage permanently out of the £70ks :dance:

5erge

Jan £26.20
Feb £46.33
Mar £34.83
Apr £30.30
May £27.07
June £46.91

I am now under the 41k barrier and will be under 40k by August. Just need to keep plodding away. I also have £300 of topcashback about to become payable so will chuck the whole lot at the mortgage. I will clear my initial 1% within the next two months and will create another 1% to work towards.

twinklie

My 1% isn't achievable for me this year because I'm paying off my debts instead - can't wait to get involve next year though. Seeing the progress you are all making is very motivating.

But as my signature shows, I'm making my own progress for now.

wildcherry

Hi All,

In May we have so far overpaid £140 and I will add in an extra £150 at the weekend. Really happy with how the overpaying is going.

MrsElliot

Wow can’t believe it’s june already. Our baby arrived in April and it’s been hard remembering to make overpayments due to sleep deprivation but currently we have paid off £418 of our £809.23 target (over 50% there whoop!). Overpayments in the next few months will be hard due to maternity pay but we will see if I can get extra pennies from Quidco, ebay and surveys. Just been to see our mortgage broker and he is hopeful of getting a five year deal with a better interest rate than what we are on now fingers crossed!
Stay motivated everyone we can do this!!!

Rachib

Wow this year is flying by, but what a Money Saving years it’s been.

Well done everyone on the progress made, everything helps.
I’m posting today as I’ve hit and exceeded my 1% today.
May’s overpayments ended up at £263.95.
June’s overpayments so far are £301.06.

So in total I’m at £1565 and an all important 1p!!! :rotfl:
Against a £1530 1% target.
So my sights are now turned to 2%
I still a long way to go (around 14 years if I continue at around this rate) but it’s progress!

pavlovs_dog

That's amazing progress Rach! You'll need to update your signature :j

What is your new 1% target?

Rachib

Hi Pavlovs, thank you!, I've updated it now :j:rotfl:

I think I'll stretch myself and say that my new 1% is 2%, so just over £3k in overpayments. It'll be a stretch but could be achievable