1% challenge 2023

NeverendingDMP

Hi I love the updates. I think it's amazing how much you are saving. I've stalled. DH still on ssp and the universal credit we are getting which we appreciate very much is about a quarter of what his monthly wage would be. We owe an advance to u credit that we borrowed and are paying the basic minimum on any debts we aleady had and will be for the foreseeable. If I can keep the debts as they were I'm calling it a win. 

craftingmad

NeverendingDMP said:

Hi I love the updates. I think it's amazing how much you are saving. I've stalled. DH still on ssp and the universal credit we are getting which we appreciate very much is about a quarter of what his monthly wage would be. We owe an advance to u credit that we borrowed and are paying the basic minimum on any debts we aleady had and will be for the foreseeable. If I can keep the debts as they were I'm calling it a win. 

Oh Neverending - I am so sorry things are rough for you at the moment. 
It sounds like you are doing great adapting to your new situation and well done on keeping up with the minimum payments during this difficult time.

You are certainly winning in my eyes.

Sending love x

NeverendingDMP

Ah thankyou @craftingmad
We are doing okay tbh just a temporary blip isn't it. I Hope you have an enjoyable weekend

craftingmad

Sorry I've been missing for what feels like ages. 
I'm currently looking after my elderly parents so that is taking most of my time and has become my priority for the time being. 

I am managing to add in all my wages though into my OP savings pot so am still making some progress even if it is not as much as before.

Since my last post I have added:-

£ 500.00 from our usual mortgage OP 
£ 434.96 cafe wages
£ 608.00 subscription cuts etc
£ 314.48 cafe wages
£ 121.08 Etsy earnings
£ 245.74 BK wages
£ 314.28 cafe wages
£ 311.23 interest on one savings account
£     6.72 interest on one savings account

______________
£2856.49 added

My total now currently stands at £55113.98/ £81700 = 67.45%   

NeverendingDMP

That's a fabulous achievement. Don't be afraid to step back for a bit whilst your parents need you. If you hadn't done anything so far you would be starting from scratch but you have achieved so much it's more than okay to pause and do the other things that you need to. I hope they are okay and you are holding up okay as well x

craftingmad

Me again - I've just updated my spreadsheet and found some transfers into the OP savings account I'd forgotten about so this is a nice unexpected bonus

I'm declaring a further £636.48 made up of tips, interest, extra rent and usual OP mortgage amount  

My total now currently stands at £55750.46/ £81700 = 68.23% 

 I'm feeling super happy with just how much we have made so far  

craftingmad

Morning all.

More progress to report.

£129.82 from original cafe wages
£471.47 BK wages
£334.05 new cafe wages
£  45.00 FB marketplace sales

So in total another £979.54 added into the OP savings pot  

My total now currently stands at £56730.00/ £81700 = 69.43% 

That means I am now only £460 away from hitting the 70% mark  

Fingers crossed I can make that by the end of the month (although I doubt I will as the bank holiday will have decreased my cafe earnings this week)   Time to start finding more things to sell on FB I think! 

craftingmad

Morning all.

So sorry its me again. I always seem to be hogging this thread but it helps motivate me so much to see my progress.

Its interest day on one of the savings accounts today and also pay day from the cafe so I have added in to the OP savings pot today:-

£308.32 interest
£284.91 cafe wages

My total now currently stands at £57323.23/£81700 = 70.16% 

Yay - I've passed the 70% mark - admittedly only just but I've passed it and I'm taking that as a win . Next stop 71%  

 How is everyone else getting on?

NeverendingDMP

Ah well done..it seems to have gone fairly quick considering the amount of money you are saving. When did you start saving for this mortgage 

craftingmad

NeverendingDMP said:

Ah well done..it seems to have gone fairly quick considering the amount of money you are saving. When did you start saving for this mortgage 

Thank you.

I have just checked back on the thread as I actually could not remember when we started savings for BTL2 mortgage. It turns out this mortgage quest was started on 1st February 2024 so we have managed to reach 70% of the debt in just 14 months.

Thanks for the little nudge as I feel so proud of just how much we have achieved in what feels like such a short space of time x