1% challenge 2023

Highlanddream

NeverendingDMP said:

Highlanddream said:

NeverendingDMP said:

Thought I'd update as well. My debts still exactly the same 😂. I rang universal credit and they will only pass what we own to their debt management dept when we have had nil payments for six months so if they are rushing there's not much I can do is there! My other two debts are the ones I've not paid as since they were taken over the standing order keeps bouncing back. I'll have to start a % savings target at this rate to be debt neutral so I've got something to aim for.  DH debts are now going down (I think). I'm just paying minimum on those for now. I've a vague idea of what they are but I know they went up a fair bit this year due to his big purchases. He doesn't share the total but I can see by what goes out of the account that the minimums went  up. 

Goodness that does sound a bit of a nightmare, debt neutral sounds a good idea. I think it is a result if you don't put any more on credit! Are his on cheap interest debts?

Mine are all 0% as they are two defaults and money to HMRC. DH are 0% apart from if he spends more on his credit card which I'm sure he does as the minimums keep changing. Extra to that is a loan he took out for a push bike. That doesn't come out of the joint account and he has never told me what he spent or the terms. Google gave me a good guess of about 4k though. It's a pain as we will never be truly debt free until he has his light bulb. I'm aiming for debt neutral for the universal credit first though. I don't like the idea of owing them money for longer than we need to. It's more of a priority debt isn't it.

From what I have seen more people spend time paying UC back than receiving it . UC six months, goodness , you would think they would be more like council tax and go for the jugular straight away. Hopefully your DH will have his lightbulb moment sooner rather than later. 

I hadn't thought about mine being nearly 2/3rds through! I just keep looking at the figures, I just want this current one gone, it started at 8000 so it is wearing a little thin now, fed up with it, it's down to 1845, its the last slog that seems to be taking forever, especially after last month. 

NeverendingDMP

True we set up a repayment plan of two years for the UC but as we don't claim it anymore we wait for it to be passed over and then presumably can agree the same payment plan. Hopefully I can just say here you are and have it gone. 1845 is very close considering how much you have managed to pay on some of your months!

craftingmad

Highlanddream said:

craftingmad said:

Highlanddream said:

disaster this month, not going to get much off but I am getting my head back into my side hustle, fingers crossed I can make it up. . All my own fault. 

Hey don't beat yourself up. Life happens sometimes and just think of all the progress you have made already. You are doing great. 

Well done on getting back into your side hustle. What are you doing?

I buy at auction and sell on eBay. I find it unreal what sells. My best bargain so far was a chipped bowl, in 4 boxes of junk that I paid £40 for, the one bowl sold for 470 on an auction, I still don't know what was special about it. The best bit is spending the money from my business account rather than my normal account, I don't feel guilty .  I could probably do it full time but have a job with the local authority and the sick pay & pension etc keeps me there. 

That is fantastic news about your BTL no2. I had to read a couple of pages again to work out what your latest figures are with the investment of 75000. 

That sounds like great fun. I have always wanted to do something like that but been too scared. Maybe I should just give it a go - although my husband would probably kill me as our house is full to bursting with my craft supplies already so I have no room for auction lots as well 

Fingers crossed you find another bowl one day  
 

craftingmad

Highlanddream said:

 I am now up to 63.6%  not much movement. My OH is away for a couple of weeks from Monday, so I am hoping to go mad with the side hustle. I have taken the same two weeks off work, I condense my hrs so find it hard work looking  after the dogs etc when I am working. No thinking about what to cook for the evening meal, bonus! I will also sort my tax out so I know exactly how much I need to pay at the end of Jan. 

That sounds like a great plan of action - I hate choosing what to eat for dinner each day

craftingmad

NeverendingDMP said:

Highlanddream said:

NeverendingDMP said:

Thought I'd update as well. My debts still exactly the same 😂. I rang universal credit and they will only pass what we own to their debt management dept when we have had nil payments for six months so if they are rushing there's not much I can do is there! My other two debts are the ones I've not paid as since they were taken over the standing order keeps bouncing back. I'll have to start a % savings target at this rate to be debt neutral so I've got something to aim for.  DH debts are now going down (I think). I'm just paying minimum on those for now. I've a vague idea of what they are but I know they went up a fair bit this year due to his big purchases. He doesn't share the total but I can see by what goes out of the account that the minimums went  up. 

Goodness that does sound a bit of a nightmare, debt neutral sounds a good idea. I think it is a result if you don't put any more on credit! Are his on cheap interest debts?

Mine are all 0% as they are two defaults and money to HMRC. DH are 0% apart from if he spends more on his credit card which I'm sure he does as the minimums keep changing. Extra to that is a loan he took out for a push bike. That doesn't come out of the joint account and he has never told me what he spent or the terms. Google gave me a good guess of about 4k though. It's a pain as we will never be truly debt free until he has his light bulb. I'm aiming for debt neutral for the universal credit first though. I don't like the idea of owing them money for longer than we need to. It's more of a priority debt isn't it.

Its so hard isn't it when your partner does not get on board. My hubby was just like yours until one day he suddenly had his lightbulb illuminating and now its a real struggle to get him to spend any money at all

Fingers crossed for you that his bulb switch flips to the on position very soon x

craftingmad

Good morning. It feels like forever since I was able to add any money in the OP pot but finally another payday has arrived so I can declare £266.05

So my total now currently stands at £2992.26/£7500 = 39.89% 

I'm creeping up slowly  

Highlanddream

craftingmad said:

Good morning. It feels like forever since I was able to add any money in the OP pot but finally another payday has arrived so I can declare £266.05

So my total now currently stands at £2992.26/£7500 = 39.89% 

I'm creeping up slowly  

Well done, you will definitely complete this by the end of November! Placing my bet now  . I had to buy a lawnmower, that has stopped me for a few weeks. I am hoping I will still have time to catch up this month. 

craftingmad

Highlanddream said:

craftingmad said:

Good morning. It feels like forever since I was able to add any money in the OP pot but finally another payday has arrived so I can declare £266.05

So my total now currently stands at £2992.26/£7500 = 39.89% 

I'm creeping up slowly  

Well done, you will definitely complete this by the end of November! Placing my bet now  . I had to buy a lawnmower, that has stopped me for a few weeks. I am hoping I will still have time to catch up this month. 

No pressure then 

Boo on having to get a new lawnmower. We had to buy one earlier in the year as our trusty mower of 15 years decided that it had had enough and suddenly stopped working  

I have faith that you will quickly be back on track x

craftingmad

More to declare for me today as it is payday from my BK job

£378.89 has been added into our OP savings account :0

So my total now currently stands at £3371.15/£7500 = 44.94% 

Only £378.75 to find to make us hit half way  

Highlanddream

craftingmad said:

Highlanddream said:

craftingmad said:

Good morning. It feels like forever since I was able to add any money in the OP pot but finally another payday has arrived so I can declare £266.05

So my total now currently stands at £2992.26/£7500 = 39.89% 

I'm creeping up slowly  

Well done, you will definitely complete this by the end of November! Placing my bet now  . I had to buy a lawnmower, that has stopped me for a few weeks. I am hoping I will still have time to catch up this month. 

No pressure then 

Boo on having to get a new lawnmower. We had to buy one earlier in the year as our trusty mower of 15 years decided that it had had enough and suddenly stopped working  

I have faith that you will quickly be back on track x

LOL about pressure!  . I am hoping to put a 100 in tomorrow but will see how my bank balance looks in the morning I think!