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1% challenge 2020
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£3.24 from Quidco for overpayment, £1827.14 total for 2020
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£3.46 from Quidco for overpayment, £1830.60 total for 2020.
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Sorry, its been ages since I last posted on here. I have been continuing to overpay the mortgage now and again over the last couple of months, but have also been focussing more on investing into my ISA.
However that being said I have managed to get my overpayments to 4% (£5,650.46), which is an amazing amount, and I can’t quite believe it.
I think that will be it for this calendar year now.MFW 1% Challenge 2019 - £2,383.44/£1,530 1.56%
MFW 1% Challenge 2020 - £5,650.46/£1,455 4.00%1 -
Aug £14.82
Sept £21.37
Oct £17.71
Nov £15.10
Dec £15.00
I slowed down after hitting my 1% in July. My mortgage term ends May next year but I am eligible to apply for a new term from Jan. So I will drop down from 2.29% to around 1.69% fixed for five years, saving £40 a month. In five years (with overpayments) this should leave me with 10k remaining. So will clear it with some savings.
Will see you all again in 2021. Stay safe.£56/2791 -
£2.93 from Quidco, £1833.53 for 2020
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Final update of the year from me.
paid today: £30
paid (cumulative): £415/£605 (68.5%)
remaining: £190
Whilst we didn't quite manage to finish our 2nd 1% of the year, this challenge did help us clear an extra £1057 off the mortgage, making sure that every penny of cashback, survey money etc worked hard for us. Thanks to those of you who have joined in throughout the year and congrats on the amounts that you've chipped off your respective mortgage debts. I'll start a new thread shortly for those who wish to join us in 2021
know thyselfNid wy'n gofyn bywyd moethus...0 -
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Final overpayment of year made today, total extra paid this year is £6499.26 which I am amazed at, 5.15% of the starting balance.1
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wow flipper that's amazing!know thyselfNid wy'n gofyn bywyd moethus...1
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Thank you, I put 5k of savings on that were earning next to nothing which is how it is so high, this thread really inspired me to manage our money and overpay though so thank you. I am hooked now and have signed up with the MFW list 🙂1
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