1% MF challenge

twinklie

Wow my 0.5% figure is £1,067.50. I thought this was super ambitious (and it might still be). But I have to date paid off £498.92.

That means I’ve already OP’d 46.7% of of my target goal. 

I’m so proud of myself. 

SpendingPennies

Hi another £1000 overpayment this month.

Barny1979

Barny1979 said:

£1.17 received from Quidco paid off, £12.42 in total for 2021

£100.00 paid off, £112.42 total paid off.

Sammie_1985

hi all, 
i would love to pay off 1% of my mortgage this year which would work out £2300. I updated my direct debit in January so I could automatically overpay £100 a month but want to throw extra at it throughout the year. how do you all go about it? do you pay off smaller amounts as and when ie £40 or would you save it to pay off a larger amount ie £200? 

rara32

89.99 paid off so now 463.14 in total so far this year. Mortgage is now at 200800 - so close to breaking the 200k barrier 

twinklie

twinklie said:

My 0.5% would be £1,067.50, so think I will make that my aim. I’ve said £600 for the MFW challenge which is more realistic at this point, but there’s nothing wrong with aiming high!

Well I look set to surpass this target. I may get close to a whole 1% by the end of the year after all. Don’t think I’ll reach it but I’ll get a lot closer than I was expecting!

pavlovs_dog

Sammie_1985 said:

hi all, 
i would love to pay off 1% of my mortgage this year which would work out £2300. I updated my direct debit in January so I could automatically overpay £100 a month but want to throw extra at it throughout the year. how do you all go about it? do you pay off smaller amounts as and when ie £40 or would you save it to pay off a larger amount ie £200? 

I have a 2 pronged attack; an automatic  OP which goes out via DD each month.  I then pay off ad hoc small amounts as and when (e.g. cashback, survey money).  I only count the latter towards my 1% target as for the whole point of the challenge is to push myself to do more.

pavlovs_dog

paid today: £106
paid (cumulative): £206/530(39%)
remaining: £324

rara32

Paid an OP today of 239.37 to take mortgage below 200k 😁. Now 702.51 paid out of 2033 target.

Barny1979

£800.00 overpayment for the year so far.