2019 1% challenge

AdventureWanted

#1 checking in. Now at 93% .

lynneee

Thank you for my number �� and well done to you, 93% is awesome adventureWanted

lynneee

#63 with another 2%! 8% altogether. Pleased with my progress, but wish I'd done this sooner! :cool:

I_Want_to_be_Free

AdventureWanted wrote: »

This challenge is probably best for debts/savings £20k or less.
If you find your 1% still too daunting, just decide on how much you want to pay off this year. Divide it by 100. That should give you a 1% figure that is more suitable. Some find it easier to do one card at a time, starting with the highest interest rate.

I just want to say a massive thank you for this wonderful piece of advice. I have almost £50k of credit card debt over 8 cards and I've just been burying my head in the sand as the number feels so overwhelming and any of the challenges just seemed to bring returns so insignificant when compared to the level of debt that I just couldn't see what the point of even trying was. But this advice has really helped. I'm now just focusing on one card with the highest interest rate. This weekend I have spent it going through all my finances, cancelling non essentials, applying for a new current account to get £150 for switching plus I've transferred £465 from my highest interest card to my lowest with no B/T fee so I've already marked off 17% off my 100% (10x10) board and have saved a whopping £477.50 in interest in the process. 1% for this one debt is £37.65 so I'm having fun now thinking of ways to get another 1% and then another. After spending all weekend re-reading the forums and challenges, it was this one piece of advice that really changed my mindset and it now feels achievable so thank you :A xxx

remote_control

That's great I Want To Be Free.

I have £32000 over 5 cards and I just let them all tick away on minimum (with the dates of 0% deals in the diary). I then just focus on one debt. I am the same as you, the grand total is just too much to deal with in any significant way. I just focus on how I can get my £14.43. What can I sell on ebay to get £14.43? What could I save to get £14.43? What surveys can I do to get £14.43.

Have you tried shoppix app? It is a very very long way to get to get any money but every little helps.

I am on 39% aiming for 50% before Christmas.

Lookingtothefuture

Hey everyone,

It’s been a long time since I ve been on these forums, and my eye has been off the ball. But I am ready to take back control in my life and so I would also like to join in if I may. I need to figure out exactly what I owe on my cards... I have five cards with roughly £17k on them. The last two comments have assured me that this challenge can still be for me also. All of the debt is on 0% interest. I have a goal of being completely debt free by the end of July 2020. I don’t know how, but I trust that I don’t need to know how right now I just need to get started and stop procrastinating because I feel overwhelmed. The path will become clear of that I am sure.

So for now I am putting my 1% down as £170. That already feels so much better. Thank you ����

Olddognewtricks

This is the one challenge I really want to do come the new year, will have to keep an eye out for the 2020 version.

1% at a time would definitely make everything seem much more attainable

remote_control

Lookingtothefuture what is your smallest debt? Make that your 1%. Have all your other cards ticking along in the background paying off what is required each month and just concentrate on finding 1% on your smallest balance card. For me it works really well. I'm not thinking of where I can find £32k, I'm concentrating on finding £14.43.

BelleBalu

Hi, I'm new to this but please can I join?

I'm debt free but I'd like to boost my savings by £1000. I just separated from my husband of 27 years last year so just finding my feet financially.

So my 1% is £10.

lynneee

#63 checking in with 13%paid! so another 5% gone. Not bad for December. Thought I'd better pay it off at the beginning of the month before I spend it! :j