2019 1% challenge

AdventureWanted

Lupus_Lou wrote: »

Hi, I'm also a late starter but can I join?
Our debt (excluding mortgage) is just under £106,000 so 1% would be 1060.
I am aiming for 3-5% by December 31st.
I'm going to attack the cards with the smallest balances and wipe them out one by one.
If I can hit 3% I will have cleared 2 cards

Thank you
Lou

Hi Lupus_Lou,
Welcome to the 2019 1% challenge. I've assigned you number 55. If you could mention your number when checking in that'd be great. Good luck with your 1%s.

AdventureWanted

Grazeley wrote: »

Hello, please can I join!
been helpfully directed here after posting my SOA.

Debt is £47000 - so my 1% is £470. I already have £60 towards this from a carboot I did on Sunday!

Can I just clarify - once i reach my 1% i pay it towards a debt. And then start a new 1%?

This sounds fab!

Hi Grazeley,
Welcome to the 2019 1% challenge. I've assigned you number 56. If you could mention your number when checking in that'd be great. Good luck with your 1%s.

It's up to you how you make payments to your debt. For me I make payments most days to my debt (rounding down bank account, cashback money, etc) and keep an eye on what percent I am up to. I have a 100 grid that I colour in for each one percent, which helps remind me where I am up to. If you prefer to keep the money until you reach 1% then pay that money, then that's absolutely fine. Whatever works best for you .

AdventureWanted

Bluetulip1980 wrote: »

Hello I am new and would like to join.

my current debt is £4,000 so my 1% is £40

I am aiming to clear my debt by end of April 2020.

Hi Bluetulip1980,
Welcome to the 2019 1% challenge. I've assigned you number 57. If you could mention your number when checking in that'd be great. Good luck with your 1%s.

AdventureWanted

NeverendingDMP wrote: »

#17 im at 100 % 1000 pounds saved. Yayyy. Ive set up a d debit to myself each week to try and increase it up to 1250 by the time I need it. (December)

I will set myself another target i think. I did paying debts down last year and found it easier to keep track of than this one as I've had to dip in and out of the savings account as the years gone on. Its in a different account now waiting to be used but not borrowed from.

Current debt total is 28979 so i guess my new 1% is 289.79. Im hoping to pay 3% by xmas.

Well done NeverendingDMP I'm getting to 100% :j:j

AdventureWanted

BelleOfBilboa wrote: »

Number 22 checking in and checking out! I've cleared all 100 of my 1%'s :j

Apologies for being utterly crap with updating my progress along the way!

I've kept up with my Populus surveys and managed to squeeze 2 cheques out of them in 6 months thus clearing 5%. I also found that taking cash out and storing it in an envelope where it wasn't accessible to online shopping etc. helped me get to 50% 2 months ago.

The final 50% has been down to luck more than anything else. My partner and I have moved out of our rented house in the home counties and relocated to the West Country which has meant moving in with parents for a short while. We have been very lucky not to have been charged rent so I have used the opportunity to spend my extra money on clearing this debt and it feels gggrrrrrreat! :T

I realise not everyone is in the same position but I've nearly hit £50 cash out on YouGov, I've sold bits on eBay, I've done a car boot sale (it's amazing what people will buy:eek:) and more than anything else - I've been careful with my money. I have a spreadsheet with my partner featuring all of our monthly incomings and outgoings which has helped us stay accountable.

My debt journey isn't over but I've managed to clear a lot of money since having my lightbulb moment and realising how much money I owed!

I've not been very present on this thread but I have kept up with everyone else's posts and that has been motivating.

Keep going everyone :T 1% paid is 1% less that you owe!

Belle x

Well done BelleOfBilboa on reaching 100% :j:j.

lynseydee

Not exactly sure how I would work out percentage paid but I have done a cash transfer from my Barclaycard to my bank account and then added some of my savings to clear the balance that was due to start charging interest. I do know that it means I've borrowed less on my Barclaycard so monthly payments will be lower. I am going to sort out my finances properly to work out what disposable income I will have and put it into my savings just in case I need it because I can't get another 0% deal.

lynseydee

Having paid off one of my credit card 0% deals that was ending and borrowing less on the card means I will be saving about £30.00 a month, which I'm really pleased about.

I use What's the Cost to help me keep track on how long I have left to pay off my credit cards as motivation but it has started throwing up error messages. Does anyone use something similar that I might be able to start using to help me keep track?

Little_Miss_Uni-Debt

Wow! I've just popped on here for the first time in a very long while. It's so amazing to see the 1% Challenge still going strong!

I love it! :T

Grazeley

No 56 checking in please - 1% done:j

Sugarcandy

I have read through this thread and it has inspired me to tackle my huge debt again! I've tried many times before but finish up losing focus and adding to the total. I am working hard at it just now as my circumstances have changed and income is a lot lower. I will join this thread when the new intake begins