The 365 Day 1p Challenge 2022

LittleMissDetermined

It's pay day so I have added up to 26th May payments to the pot... 70.35 added (I'm doing the challenge backwards) so I have £427.05 in there now
LMD x

MissRP95

Latest update, added £49.14 so now I am currently at £428.15/£667.95.

srmlac

#9 Checking in after pay day.

Now at £206.57/£667.95

Keedie

Hi @outoftheviciouscircle can I please join? I know I'm behind, so I've transferred some money to cover January 2022 so far, and will put what I can and then catch up when I get paid towards the end of the month for the earlier part of the year and then take it from there and pay random amounts as I have it.

@xanderaw I looked at the MSE page explaining the challenge, and that might help you as it has the monthly values and tips for different circumstances https://www.moneysavingexpert.com/team-blog/2019/12/the-1p-365-day-savings-challenge/ and a tracker that you can use https://www.moneysavingexpert.com/content/dam/mse/downloads/forum-1pchallenge-v1.pdf???. 

MissRP95

Another £53.12 into the virtual pot. Now I am at £481.27/£667.95

LittleMissDetermined

Added £64.08 into the pot today to cover payments up to 27th June. Total pot is now at £491.13
LMD x

srmlac

Just added another £61.07, total now at £267.84. I hope to be able to keep up  to the end of the year.

LittleMissDetermined

srmlac said:

Just added another £61.07, total now at £267.84. I hope to be able to keep up  to the end of the year.

This is why I did mine backwards, it was a pinch at the time but heading into the next few month with inflation levels, I appreciate my additions are going down x

srmlac

LittleMissDetermined said:

srmlac said:

Just added another £61.07, total now at £267.84. I hope to be able to keep up  to the end of the year.

This is why I did mine backwards, it was a pinch at the time but heading into the next few month with inflation levels, I appreciate my additions are going down x

Yep, I knew I should have done that at the time, costs of everything are just going up.

I feel guilty that I had to use most of my emergency fund (after hitting my target) to keep my car on the road and now I am worrying about entertaining my kids for the first 2 weeks of the school holidays, want to maximise the things I do with them, just need to be aware of cost.

Keedie

Added £31.65 to the pot to cover up to 30 April 2022 as I started late so I'm paying catch up! I'll definitely be doing things in the reverse order in 2023 and I've done a spreadsheet to tell me what to pay from 1 January 2023 onward. Fingers crossed I'll be able to go from a heavy month in December 2022 to maintaining the high payments in January 2023.

@srmlac I think the fact that you had the emergency fund ton use for the car makes all the difference! You've used it for its intended purpose and so whilst you may feel guilty (I can definitely relate to that), the fact that you were able to have the money to keep your car on the road shows that it's actually an achievement.  I've recently sat down and tried to think of everything I need to spend on the car in a year so that I can work out the annual cost and how much I need to put aside each month. If/when you're able to, that might be helpful for you? I've not paid anything into it as yet, as I have to clear a couple of Klarna payments (I used Halfords for this year's service and MOT and paid via Klarna as I didn't have a car maintenance kitty to play with). But once the final payment is out of the way, I'll use that money towards 2023's car maintenance.