2020 1% challenge

AdventureWanted

Ian011 wrote: »

101. Check your landline calls package covers the time of day you are making calls.

If you have only inclusive weekend calls, or only evening and weekend calls, and are making weekday chargeable calls to numbers starting 01, 02, 03 and 07 (not including numbers starting 076 and mobile numbers allocated in CI and IoM) costing in total more than about £5 to £8 per month, swap to an AnyTime inclusive call plan so that you do not pay for individual calls at any time of the day or night.

Chargeable calls often cost 10p to 20p per minute (i.e. £6 to £12 per hour). It doesn't take long for the aggregate cost of these to exceed the monthly cost of an unlimited inclusive calls package (these packages often cost around £5 to £10 per month).


102. Check your landline calls package includes calls to UK mobile numbers.

Inclusive call packages on landlines always include calls to UK geographic numbers starting 01 and 02, and non-geographic numbers starting 03. Check that your provider also includes calls to UK mobile numbers starting 071 to 075 and 077 to 079 in your allowance.

If your calls package does not include calls to UK mobile numbers, this may be because your provider has left you on an older call plan that is no longer value for money. When calls to mobile numbers are excluded from allowances, you could be paying around 15p to 30p per minute (i.e. £9 to £18 per hour) for these calls. Check the monthly cost of moving to a more up-to-date call plan that does include calls to UK mobile numbers.


103. Check your pay-as-you-go mobile phone calls deal.

If you are paying 15p to 65p per minute (i.e. £9 to £39 per hour) for calls to landline numbers starting 01 and 02, non-geographic numbers starting 03, personal numbers starting 070, and mobile numbers starting 071 to 075 and 076 to 079 you are likely paying far too much for your calls.

If you are a low user, or infrequennt user, look to pay-as-you-go deals with these calls charged at 1p to 5p per minute (i.e. 60p to £3 per hour) to make considerable savings.

If you are a regular user of your phone, look at deals with hundreds of minutes of inclusive calls for £5 per month, or more calls for a larger monthly fee. These deals are available on pay-as-you go, SIM only rolling one-month contracts, and on longer term contracts.


104. Check your actual calls usage against any inclusive calls limit.

If you already have inclusive calls on your mobile phone deal and find you are regularly exceeding the call limit (with additional calls charged at typically 35p to 65p per minute, i.e. £21 to £39 per hour), change up to the next largest call package for an extra few pounds per month. In many cases this will more than double the monthly allowance and could potentially save hundreds of pounds per year.


105. Check your landline or mobile phone deal includes calls to personal numbers starting 070.

Following changes made in October 2019 to the wholesale rates that telecoms providers charge each other for calls to personal numbers starting 070, Ofcom now expects that calls to these numbers will be included in allowances on the same basis as calls to UK mobile numbers starting 071 to 075 and 077 to 079. Some providers have made the change, others have not.

Ofcom has cut the wholesale rate for calls to 070 numbers from 39p per minute to just 0.5p per minute, so that it is the same as the rate for calling a UK mobile number. Some providers seem to be unaware of this, or pretend they are unaware of it.

Thank you for these and updating some of the old notes. I've updated the list, so going forward it will be up to date. Thank you .

AdventureWanted

I've updated the list of 1% challengers. Sorry it's taken so long.

Current list is:
The 1% members:-

1) Adventure Wanted - 1% = £120
2) 2sonmum - 1% = £260
3) BelleBaluu - 1% = £40
4) lynseydee - 1% = £
5) Emzmom88 - 1% = £160
6) FaceHeelTurn - 1% = £32
7) fudgecat - 1% = £21.25
8) gettingtheresometime - 1% = £9 Now at 5%
9) GlitteringGold - 1% = £294
10) hiceskater - 1% = £140
11) A Random Man - 1% = £61.37
12) Jonnyboy1985 - 1% = £62
13) Ljb12 - 1% = £299
14) crazy_cat_lady - 1% = £
15) Loadedsoul - 1% = £153
16) Lynneee - 1% = £36.42 Now at 14%
17) NeverendingDMP - 1% = £190.33
18) MidsHollie - 1% = £330
19) Naomim - 1% = £332
20) natnat13 - 1% = £18 Now at 4%
21) NorthMarineRoader -1% = £200
22) OptimisticSaver - 1% = £59.45
23) Pixie Fairydust - 1% = £5.51
24) Scloud - 1% = £10 Now at 63%
25) Sharon87 - 1% = £115 Now at 2%
26) StartingAgainAt29 - 1% = £14 Now at 12%
27) Littlebigmoose - 1% = £30
28) LuckyPenny - 1% = £30
29) sunflowerlady - 1% = £501.12
30) TryinToDoItRight - 1% = £5 Now at 1%
31) Wimbrel - 1% = £73
32) xxFairyNuffxx - 1% = £130
33) charlies tribe - 1% = £50

Welcome all of you to the 2020 1% challenge. Please can you use your numbers going forward when updating, as it makes it easier for me to update the list. Wishing you all the best of luck with your 1%s.

AdventureWanted

Jonnyboy1985 wrote: »

Hi all. New Here. Like the sound of this so I'd like to join in on all the fun.

1 question. Probably being a noob. Lol So I've a debt that I want to get rid of currently sitting at £6130. It's all 0% at the moment but really want rid of it. So my 1% is about £62. My minimum payments I pay off is £145 so do I count that as 2% every month before I pay anything extra off? Or is it the extra on top of the miminum payments I'm counting?

TIA

Hi Jonnyboy1985

My debt is all on 0% cards too, so I include any payments I make (including min payments) towards my 1%. Some people may do it differently, but I go for the most motivating way and for me it's seeing that little % increasing quicker!

AdventureWanted

gettingtheresometime wrote: »

Can I join please?

My target is to clear a £900 debt so 1% for me will be £9.

I've already managed to put £18 to it so I'm standing at 2%.


One quick question - I understand the bit about minimum payments still have to be made but can you count the difference between the minimum payment & the interest charged towards your %ages?

So (in my case) if my min payment is £40 but the interest is £31 can I count the difference of £9 as 1%?

TIA

Hi gettingtheresometime,

If you want to include the difference do so. It makes sense to me that you would include it as your balance is being reduced by this amount. In all honesty you can choose how you want to count your 1%s, as it's your own personal debt challenge. For me my debt is on 0% cards so I include my minimum payment, as well as any additional payments made to those cards towards my 1%. Hope this has helped (although not sure I've been that much help!).

tigwell

Just found this idea. Absolutely love it, will definitely be taking part if I’m not too late?

My 1% is £44

a_silver_lining

Hi Adventure Wanted count me in here.

1% = 60E - 1k/6k = 16% so far

Used this challenge to pay off my 10k of debt in England. I've now sold my flat and moved to the R of Ireland. My UK bank account looks great with my deposit sat there, but I spent about 5k moving here and being unemployed, so my plan is to now build up some euro savings towards buying here.

Planning on a 250 monthly saver and the rest will be overtime and MSE ways

gettingtheresometime

AdventureWanted wrote: »

Hi gettingtheresometime,

If you want to include the difference do so. It makes sense to me that you would include it as your balance is being reduced by this amount. In all honesty you can choose how you want to count your 1%s, as it's your own personal debt challenge. For me my debt is on 0% cards so I include my minimum payment, as well as any additional payments made to those cards towards my 1%. Hope this has helped (although not sure I've been that much help!).

Ah thanks for that.


I've decided that I'll include the net payment towards the 1% challenge... as that is what is helping to reduce the balance...certainly an eye opener when you realise that you're not even paying off 1% of the balance off by just paying the minimum balance :eek: .


The payment for the ebay sale came into today so the net amount (after taking into account posting the parcel) added another 1% to the target and a fair chunk towards the next 1%. Hopefully more ebay sales will happen soon.

Sharon87

Yay! I got a job offer. I will be able to continue on the challenge and not get further into debt!

I'll update next month on what I've paid off.

Optimistic_Saver

Sharon87 wrote: »

Yay! I got a job offer. I will be able to continue on the challenge and not get further into debt!

I'll update next month on what I've paid off.

Congratulations, Sharon87 :T:T

A_Random_Man

Sorry for lack of replies but I will update the tread at end of month