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1% challenge 2020

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Comments

  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £103.39 paid off from an energy refund.
  • nat21luv
    nat21luv Posts: 3,435 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Cashback Cashier
    I paid off another £1220 today! I cashed in an isa, I have an emergency fund and 3 months wages put by so anything else I’ve cashed out and throwing it at debt. 
    £2875 to go, starting balance £14202
    79% paid off!!
    2025 Mortgage start £378K 2025 Overpayment £103 Savings Challenge 2025 **MONEY MAKES ME HAPPY**
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £24.16 paid off today from refund 
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £62.50 paid off from Facebook sales
  • pavlovs_dog
    pavlovs_dog Posts: 10,217 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Taking advantage of the council tax free month to chuck some pennies towards other projects

    paid today: £100 
    paid (cumulative): £361/£642 (56%)

    remaining: £281
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • savingholmes
    savingholmes Posts: 29,017 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I thought I'd joined the thread already - targeting £1450 this year - £215 OP so far. We have managed to halve our broadband bill so putting that £21 extra towards the mortgage from March onwards.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
    (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £4.8K updated 29/7/25
  • £28.25 paid today to round down the mortgage balance. 17.15% of target achieved.
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £24.17 paid off from refunds
  • nat21luv
    nat21luv Posts: 3,435 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Cashback Cashier
    Monthly payment came out today for my loan so that takes me to 81% paid off my total debt.

    £2675 to go until I’m debt free!
    2025 Mortgage start £378K 2025 Overpayment £103 Savings Challenge 2025 **MONEY MAKES ME HAPPY**
  • bricoleur
    bricoleur Posts: 19 Forumite
    10 Posts Name Dropper
    Hi, I'm joining the challenge as it looks realistic to me! My mortgage is approx £203K currently. To make it fun and easy to remember, I'll set the target at £2020. Cheers and good luck to us all! 

    Mortgage over-payments 2020 target: £2,020 
    Mortgage over-payments 2020 YTD: £394 (19.5% of target) 
    1% mortgage over-payment challenge 2020: target £2,020 | over-paid YTD: £410.95 (20.3% of target)
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