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1% MF challenge
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wonderful to see faces old and new reporting on their progress. The little payments really do add up over time, and every pound repaid is a pound that we'll never pay interest on again!
it's been a quiet year on the extra OP front chez Pavlov as we have been aggressively saving for house improvements. As humble as £530 feels compared to the £000s I've OP'd thanks to previous versions of this challenge, it has still saved us an extra month and a half of normal mortgage payments and it's helping to make future 1% challenge targets ever smaller.
paid today: £50
paid (cumulative): £500/530(94%)
remaining: £30
know thyselfNid wy'n gofyn bywyd moethus...0 -
£50.00 OP today, £63.59 for November and £5100.00 for 2021
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£100.00 OP today, £163.59 for November and £5200.00 for 2021
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£800.00 OP today, £963.59 for November and £6000.00 for 2021
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Made an overpayment this month of 88.51 to get mortgage to 195500 - have set my self a mini-challenge to get below 195000 before 1st Jan 22. Target now stands at 2124.81/2033 for 2021Mortgage @ 2018 £225000
Mortgage @ 1 Jan 24 £142600
Current Mortgage £114520
1% challenge 2025: 8779/2300 (completed)
1% challenge 2024: 3158.76/1426 (completed)
1% challenge 2023: 1914.96/1866 (completed)
1% challenge 2022: 1962.27/1949 (completed)
1% challenge 2021: 2377.36/2033 (completed)1 -
paid today: £30
paid (cumulative): £530/530 (100%)
remaining: £0
final OP of the year sent today, bringing our 2021 1% challenge to a close.
Our new 1% target is £429.know thyselfNid wy'n gofyn bywyd moethus...1 -
Thanks for continuing this thread Pavlovs it has really helped me keep up the motivation this year and given me something positive to focus on
I managed to just squeeze under 195000 on the mortgage this month so 1% target for 2022 is £1949Mortgage @ 2018 £225000
Mortgage @ 1 Jan 24 £142600
Current Mortgage £114520
1% challenge 2025: 8779/2300 (completed)
1% challenge 2024: 3158.76/1426 (completed)
1% challenge 2023: 1914.96/1866 (completed)
1% challenge 2022: 1962.27/1949 (completed)
1% challenge 2021: 2377.36/2033 (completed)1 -
Sneaked in a last OP of £200.00 today, for a total of £6200.00 for 2021
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Final OP made and finished with a total of £1,589.52. I'm over the moon.twinklie said:So my target for 0.5% was £1,067.50 and I've currently paid off £1,357.74. I'm well happy with that. I genuinely didn't think I'd be able to achieve that.
I'm actually going to try for the full 1% next year, it'll be an aspirational target, but gives me something to aim for. It means I'll need to OP a minimum of £167 every month, but that's hopefully doable.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 371 -
Just managed to squeeze past my 1% target, and will definitely be joining in again for 2022.
- 1% Target - £705
- Total Paid - £707.85
MFW: Was: £136,000.......Now: £47,736.58......1
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