1% challenge 2023

craftingmad

I popped to the post office on the way back home from taking son to work so I'm declaring another £95 paid into the OP savings account today  

My total is now £11499.11 / £81700 = 14.07% 

Only £766.89 to find in order to hit my next milestone of 15%

Wish me luck - I think I'm going to need it  

NeverendingDMP

craftingmad said:

Me again - sorry for hogging thread

The monthly interest has just paid out for the savings account so I can declare a further £474.03 towards the OP mortgage savings fund today.

My total is now £11404.11 / £ 81700 = 13.95% 

I have my chippy wages to pay in so will try and do that later so I can creep past the 14% - fingers crossed I find time to get them paid in at the post office  

Excellent progress. The interest you gets inspires me to eventually build up some decent savings 😂 

craftingmad

NeverendingDMP said:

craftingmad said:

Me again - sorry for hogging thread

The monthly interest has just paid out for the savings account so I can declare a further £474.03 towards the OP mortgage savings fund today.

My total is now £11404.11 / £ 81700 = 13.95% 

I have my chippy wages to pay in so will try and do that later so I can creep past the 14% - fingers crossed I find time to get them paid in at the post office  

Excellent progress. The interest you gets inspires me to eventually build up some decent savings 😂 

I have total faith in you that you will achieve it Neverending x

It is certainly a very nice bonus for us and at the moment it is better financially to put the money into the savings to  rather than pay off the mortgages as they are still on low fixed rates so we earn more money in interest than we would save in interest by overpaying. 
Our three buy to let mortgage rates expire one a year from next year over the next three years though so we will then have to way up if it is better to still keep the money in the savings or use the bulk of the savings to pay one off. 
It is a lovely feeling though getting a nice little extra wedge of money each month for just paying in cash into the savings account. Fingers crossed the savings rates stay high for at least another year longer x

  

remote_control

£7.72 paid bringing me to 6% paid now. Boom

NeverendingDMP

remote_control said:

£7.72 paid bringing me to 6% paid now. Boom

Well done. 

NeverendingDMP

We are now down to six debts. 4 in my name 2 in DH. Next target is a debt of 961 which will be accruing interest at a not nice rate from next month. Need to chuck all the pennies at it or watch out for a balance transfer (not an option currently)
Next target therefore is to reduce my debt by 1000 (the rounded up numbers are so much easier to monitor 😂) unsure how long I'm aiming for timewise but I'll see how I go. My current 1% is ten pounds

craftingmad

NeverendingDMP said:

We are now down to six debts. 4 in my name 2 in DH. Next target is a debt of 961 which will be accruing interest at a not nice rate from next month. Need to chuck all the pennies at it or watch out for a balance transfer (not an option currently)
Next target therefore is to reduce my debt by 1000 (the rounded up numbers are so much easier to monitor 😂) unsure how long I'm aiming for timewise but I'll see how I go. My current 1% is ten pounds

That's fantastic progress. Well done x

It won't ne long until the next £1000 is paid I'm sure  

craftingmad

I have just managed to add a further £1118 into the OP savings account made up of our usual £500 OP to the mortgage which we cannot pay as reached 10% limit until September so we will add it into the savings until then, £608 from the subscription cuts I made at the start of the year and £10 from Prime Opinion. 

My total now stands at £12617.11/ £81700 = 15.44% 

Next stop 20% but it may take me a while - unless anyone has a spare £3722.89 they can lend me

x_raphael_xx

#5

Not much, but paid for bfs half of the window clean - £7.50

£37.16 / £1200 (7th 1%)

craftingmad

x_raphael_xx said:

#5

Not much, but paid for bfs half of the window clean - £7.50

£37.16 / £1200 (7th 1%)

All these little amount really add up though so well done