1% challenge 2020

pavlovs_dog

congrats to nat21luv on smashing your goal and welcome aboard SpoonKat!
5erge I couldn't agree more about the peace of mind that financial security brings.  Those small day to day actions and choices make a huge difference over time.

paid today: £50 (car tax refund and a TT)
paid (cumulative): £90/£605 (15%)

remaining: £515

pavlovs_dog

paid today: £10 (Quidco payout and a small TT)
paid (cumulative): £100/£605 (16.5%)

remaining: £505

Rachib

Hi,
So today I hit my 1%..... £1,456.46 paid  / £1,455 target.
So that's another nearly £1,500 that I'm not paying any interest on.
Now its time to look at 1% v2.

pavlovs_dog

paid today: £30 (Payouts from prolific, music magpie& ziffit, and a small TT)
paid (cumulative): £130/£605 (21%)

remaining: £475

flipper_72

Well done everyone on your progress, I haven’t seen this thread before but it really appeals to me. I have had a look at my figures and realised that I might be a little late to the party for this year realistically so I am going to aim for 50% of the 1% (baby steps) in the next 6 months.
Outstanding at 01/01/20 126,139.40 
1% £1261.39
50% £630.70
£105.12 per month 

my starter a day early is to pay the difference between the new payment and the previous, so £41.22 paid.
I will continue to overpay slightly this way as I know we can afford that and will empty the balance of the bills account into it at the end of each month.
Thank all for the motivation.

5erge

Jan £32.65
Feb £30.53
Mar £50.00
April £50.00
May £36.86
June £48.29
July £140.57
That's my 1% done.  Onto he next 1%, so £365

pavlovs_dog

welcome aboard flipper and congrats 5erge on smashing your first 1% of 2020.  Jealous of how low your target is, mortgage freedom must seem tantalising close!

paid today: £35 (Payout from webuybooks and a small TT)
paid (cumulative): £165/£605 (27%)
remaining: £440

5erge

pavlovs_dog said:

welcome aboard flipper and congrats 5erge on smashing your first 1% of 2020.  Jealous of how low your target is, mortgage freedom must seem tantalising close!

paid today: £35 (Payout from webuybooks and a small TT)
paid (cumulative): £165/£605 (27%)
remaining: £440

It might be low but when you only pay £357 a month it will take a while to get rid.  The overpayments do help though.

flipper_72

Thanks for the welcome pavlovs_dog.
I have paid off another £55.06 (left in bills account) so total for July is £96.28 only  £8.84 to go this month. 

Well done 5erge, must feel great chipping away at the debt.

flipper_72

We received the letter about out mortgage holiday yesterday which has added on all the interest but not taken into account the payments made in that period!! They are recalculating so once I have that figure I intend to pay £22 from Quidco into it.