2020 1% challenge

MidsHollie

#18 checking in after reaching 7%. I miss calculated the other day, and so with that, plus a bit extra, I made it to 7.01%!

craftyali

I would love to join in.

My 1% is £52.

I only have a small credit card balance and overdraft that I am paying interest/fees on, plus 2 old credit card balances which are interest free. I will have all cleared by November, by putting almost all my income towards it. However, would love to get this paid off quicker and will work through the list of tips.

Will update at the end of each month.

Ali x

crazy_cat_lady

#14 checking in. There's been a bit of a change of plan with paying down my debt and I've broken it into different bits and pieces. My first debt is £830 so my first 1% is £8.30 
I will be back very soon with a report on how much I've paid so far

df-MRes_student

Sharon87 said:

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! That's wonderful news!

All the best as you move forward,

princesst84

Id like to join please. Im focusing on my Natwest Credit card so 1% = £19. Ive paid off 10% so far this year

Wimbrel

So, first, update. My 1% is £73. Since signing up last month I've been paying at least £17 off the credit card each week, more when I can do this (in addition to the regular direct debit of course) and yesterday hit the 2% mark. I'm also saving £2 coins and will pay those in when the pot is full.
Method.

 In the January sales, I bought a chilly bottle (£4) and a sturdy metal flask (£3), I  also dug out a Tupperware sandwich box and a small insulated carry bag from the cupboard. Each morning I now pack a sandwich, a piece of fruit and a pot of yoghurt, make a flask of coffee, fill the chilly bottle with water and head for work. I haven't bought a single takeaway coffee, bottle of water or lunch item since!  Not only saving £'s but eco-friendly too.  The water stays cold and can be topped up at work, the coffee stays hot and I  refill it as needed in the staff kitchen. If I'm driving I have coffee and water on hand so the only thing I buy from fuel stations is fuel! As a bonus, because I always have my lunch with me and am not tempted by poor choices in the nearby Greggs and sandwich bars (buying lunch when you're hungry is bad for the willpower)  I've lost a bit of weight as well as a bit of debt.

craftyali

Just made a list in my Google Keep Notes app of possible 1% ideas.  Got 20 on the list and will look in more detail tomorrow.

gettingtheresometime

#8 reporting .

totalled up the payments I've made so far & I'm so pleased to report I'm at 21%. 

EBay sales have slowed down but, I've managed to transfer the debt to a 0% card so at least my entire monthly payment will now be allocated to reducing the debt.

Hoping to reach 30% now by the end of March

ditty1234

Hi can I please join, I tried to join the 2019 list - but now I finally found the 2020 1% list. So I am working on my DMP debt, but that is slowly ticking away in the background. I have currently paid 7.5 % in just under a year - so that is set roll on for about an other decade. In the meantime I am hoping to give myself the opportunity to move (as am renting and kids are set to move out) at some point, so I have started a housing ISA. My goal for this thread is to get up to 10% before the end of the year which, would be £500 of £5000. I am currently at 1% so my first aim will be to get up to 2 % over the next month or two.

Littlebigmoose

#27 checking in. Now @ 7%