1% MF challenge

rara32

Congratulations @pavlovs_dog and @turtlemoose on smashing your targets before the end of the year 🎉

pavlovs_dog

congrats @turtlemoose!  Onwards and downwards

I've just had a load of quidco cash back clear which I've paid off my student loan.   Found it very difficult to pay it off my loan instead of the mortgage, even though I know it's sensible thing to do.  Old habits die hard I guess!  Combined with November's monthly payment, it will take my balance below £2k.

SLC OP total now £260.  

1% mortgage challenge:
paid (cumulative): £1074/951 (100%)

rara32

Fab payment against your SL @pavlovs_dog.

Almost there!

paid today: £81.00

paid (cumulative): £1837/1866 (98.45%)

remaining: £29

Didn't use the left over holiday money for the extra op I had in mind as decided to get an electrician in to do lots of jobs we had (that DH was meant to have sorted out 3 years ago 🙄). Was definitely worth it as has removed lots of little irritations and has stopped me nagging which everyone is pleased about 🤣

Next OP will be made next month when it will be 🎄😱

Rara

turtlemoose

I'm excited to see everyone's end of year states  

I've paid my final lot in, and unlikely to find anything else spare what with it being December, so I'm finishing this year's challenge at £615 OP against a £560 target - very happy with this!

Next year will be a higher target due to joining part way through this year. 

JoseChungsDoomsday

Hi everyone, I've been awol the last few years but I'm looking to get back inot the 1% scheme. Do we just roll over this thread until next year or will there be a 2024 edition?

rara32

Merry Christmas everyone 🎄

I decided my first 🎁 today would be an op to finish off my 2023 1% challenge (...and a little extra to round the number of course).

paid today: £77.96

paid (cumulative): £1914.96/1866 (102.62%)

remaining: £0

Thanks for all your encouragement and support, as always, and looking forward to tackling my 2024 target alongside you all (and any new and returning 1%ers).

I hope you all get to spend some time over the next week doing what you enjoy with the ones you love.

See you in 2024!

Rara x

pavlovs_dog

great job  @turtlemoose and @rara32

@JoseChungsDoomsday - think we'll just roll this thread over again. You're more than welcome to stick around and join us

I've just been playing about with some figures. I'd love to manage another £1k in bonus mortgage OPs in 2024, which as our mortgage is drawing to an end would be about 5% of our remaining balance.

I also want to have my student loan repaid by the end of July.  I'm aiming to OP £500, just over 30%of the balance, to speed it along  (loan repayment funds will then be used to snowball the last £10-£15k of the mortgage).

By the end of 2024, the aim is to be student loan free and have no more than £10k left on the mortgage.  Looking forward to hearing what you all have planned.

turtlemoose

2024 plans... I've just checked my balance and I'm ending 2023 at £93004.69 .... obviously this will not do, so I sent a little OP over to round that down!

That makes my 1% target a nice round £930. Looking at the year ahead, I have some CC debt to focus on first (it's 0% but I need to make sure I have it paid off before that ends), so my mortgage OPs will be only £25 a month for the first half of the year. Once the CC is gone though I'll be diverting that money to OPs instead so should be able to hit the target then. 

rara32

Loving the plans @pavlovs_dog and @turtlemoose They seem like a great balance of challenge and flexibility.

My 2024 plan is pretty simple. Financially, I  will keep making the regular op and focus on my extra 1% of £1426. Personally, I will take more time to be thankful and appreciate what I have right now and reduce the amount of time fretting about what could happen.

These will be big wins if I achieve them as there is a lot of potential change afoot in 2024 with DHs contract ending in July and changes for my role. However every OP is a positive step closer to owning our home, lessening the impact of financial changes and creating a more secure future for me and my family.

If I can keep up with the op plan then by the end of 2024 I could be mortgage neutral which would be fantastic 😊

twinklie

Ok I finally have a target for 2024. 

£1,777.04

So in the spirit of not being able to cope with odd numbers. 

paid today: £7.04
paid (cumulative): £7.04/£1,77.04 (0.4%)
remaining: £1,770

I can’t pay anymore off until the cars been through it’s MOT - it’s got problems.