1% challenge 2023

craftingmad

Me again - sorry.

I have just banked £720 which was a gift from my mum and dad for xmas, £1 scratchcard winnings and £65.30 from my paypal account (received from orders for my business) so:-

My total now stands at £37,131.23/£40504 = 91.45% 

I'm made it 90% of the mortgage saved ready to be paid off when the fixed rate ends in 2025   

Only £3,372.77 to find to clear of our first BTL then it will be onto BTL mortgage number 2

craftingmad

Guess who? Sorry to hog the thread.

I am just popping in to declare a further £268 added to the OP savings pot today made up of £258 from subscription savings after haggling costs in 2023 and £10 from selling some dog food which was sent by accident and I was told I could keep  

Total now stands at £37,399.23/£40,504 = 92.11% 

Its creeping closer to the 95% mark and only another £3104.77 to find to have enough to pay the mortgage off in full when the fixed rate ends  

NeverendingDMP

Doing well. Have you stashed the money in a bank then to earn interest till it's time to wait. Double win!! 

craftingmad

NeverendingDMP said:

Doing well. Have you stashed the money in a bank then to earn interest till it's time to wait. Double win!! 

Yes. Our fixed rate of 1.9% does not expire until 1st July 2025 so we stash the money in a savings account paying 4.79% until the fixed rate expires and then we will use it to pay the mortgage off.
As you say we then earn interest on the amounts we have saved and will use this to help pay of the mortgages too   

craftingmad

Quickly popping in to declare a further £5 added to the OP savings pot today from a FB Marketplace sale.
I'm in the process of decluttering the house so hoping to be able to raise quite a bit from sales like these over the next few months at the same time as making space in the house - double win again  

My total is now £37,404.23/£40506 = 92.12% 

Very tiny movement but movement nonetheless   

NeverendingDMP

So on new year's Eve we were 17941 and now we are 17366. 3.2 % paid. That won't happen every month as it was due to extra work I got in Dec and some xmas money. The team I helped out are fully staffed again and I was only doing 3 or 4 hrs a week to help on my day off but it helped the cause and once the debts are gone I'm aiming for it to stay gone. V tight budgeting now till payday though!

craftingmad

NeverendingDMP said:

So on new year's Eve we were 17941 and now we are 17366. 3.2 % paid. That won't happen every month as it was due to extra work I got in Dec and some xmas money. The team I helped out are fully staffed again and I was only doing 3 or 4 hrs a week to help on my day off but it helped the cause and once the debts are gone I'm aiming for it to stay gone. V tight budgeting now till payday though!

That's fantastic progress  

craftingmad

Morning all. 

It's really slow progress at the moment but I've managed to add another £50 into the OP savings account made up of £20 from Inbox Pounds from surveys, £20 from 4 NSD's and £10 Airtime Rewards cashed in. 

I really need to try harder if I am going to get enough saved to pay this mortgage off before the end of May  

My total now stands at £37,454.23/£40,506 = 92.25% 
   

craftingmad

Me again  

I've transferred £21.05 into the OP savings account this morning as the two cheques from Royal Mail claims have cleared for parcels they lost before Christmas.

My total now stands at £37475.28/£40506 = 92.30% 

I'm creeping very slowly towards that next 1% but at least I am still moving in the right direction   

NeverendingDMP

It's all going good crafting mad. It's amazing how far you have come I would expect the last few months are gonna feel slow for you now as savings fatigue sets in. Nearly there. Keep going!!