1% challenge 2020

pavlovs_dog

those 'free' overpayments feel like such a win don't they?
I've just tilly tidied the £83 need to complete our first 1% challenge of 2020.  That's £642 we'll never pay interest on again Anything to help lower our chart update on the Mortgage free in five T5 thread!

1% V2 is £605.

DancingInTheRain

£30.49 overpaid to round down the mortgage account this morning. £160.75/£565 or 28.45% Achieved

5erge

Jan £32.65
Feb £30.53
Mar £50.00
April £50.00
May £36.86

nat21luv

£14202 starting debt (Nov 2019)
£498 current debt
96.5% paid!

Bank have offered me a settlement figure which expires June 2nd so I’m racing towards that, I cant believe I’m going to be debt free this month!

pavlovs_dog

1% V2 is out of the starting blocks thanks to some survey money and a Tilly Tidy

paid today: £40 
paid (cumulative): £40/£605 (6%)

remaining: £565

5erge

Jan £32.65
Feb £30.53
Mar £50.00
April £50.00
May £36.86
June £48.29

nat21luv

IM DEBT FREE!
£14202 paid off in 8 months, that 3 years early. I cant believe it, the last few months (especially May) I went HAM on my debt and took every job offered, completed every survey, sold every item I no longer needed. I cannot tell you the sheer relief I feel knowing that every penny I earn is now mine. So keep going guys, I promise you its so worth it.

Im now saving for a house deposit, £25k needed and I’ll be going just as hard on that as I did my debt, 1% at a time.

bigbeff

Well done Nat! Another £101.89 overpayment on mortgage today  

5erge

nat21luv said:

IM DEBT FREE!
£14202 paid off in 8 months, that 3 years early. I cant believe it, the last few months (especially May) I went HAM on my debt and took every job offered, completed every survey, sold every item I no longer needed. I cannot tell you the sheer relief I feel knowing that every penny I earn is now mine. So keep going guys, I promise you its so worth it.

I have previously been mortgage free (in our property) for several years and lived life without worrying about income.  If we needed anything we went out and bought it, a nice new T.V, not a problem.  Holiday, not an issue, new car... sure why not!  We were never in debt though.  Then we decided to extend our house and needed to take out another mortgage as we didn't really have a nest egg to use.  This time round it is vastly different, we learnt from our mistakes and have saved as well as paying our mortgage including over payments.  Reckon I'll be there again within 5 years, hopefully less.  I can now start to make large over payments without penalty.

SpoonKat

Can I join please? 
1% would be £961.17 
June £10 paid - £951.17
July