1% challenge 2023

Highlanddream

https://forums.moneysavingexpert.com/discussion/comment/81905088#Comment_81905088

Yup, me too, 3 weeks 3 days until the next one, not that I am counting or anything 🤣

ThriftyPrincess40

I’ve already potted Jan Feb and March amounts 👍

ThriftyPrincess40

update due tomorrow after all cc’s minimum and interest extra amount factored in

ThriftyPrincess40

paid 554.63 across all credit cards today (interest accounted for so not included in payments) total this with other extra payments £668.58. So far this year paid £1843.58 off, if I’m right that’s 12% so far this year.

NeverendingDMP

https://forums.moneysavingexpert.com/discussion/comment/81905741#Comment_81905741

Well done that's good going !!

ThriftyPrincess40

https://forums.moneysavingexpert.com/discussion/comment/81906725#Comment_81906725

thank you, I thought I’d do poorly this month but looking at it over 2 months it’s not that bad and has raised my spirits 🥳

Highlanddream

https://forums.moneysavingexpert.com/discussion/comment/81906979#Comment_81906979

it's brilliant !! It does give you a boost when you add up a few months worth and what the debt was before to current level. Fantastic, well done Thrifty.

craftingmad

Hi everyone - I'm back - Hope you missed me and thank you for all the messages and posts checking I was ok.

Sadly my mum has been diagnosed with cancer and it is fast spreading so I am spending as much time with her as I can and also looking after her and my dad as they are finding it all a bit overwhelming (as am I if I'm honest but I have to keep going and stay strong for them).

Well done to all of you on your progress - its been fantastic reading through and seeing how far you have all come whilst I've been away. I feel like a very proud mummy.

Welcome to the thread Thristyprincess. Its great to have more people to cheer on and hopefully pick me up when I fall off the wagon of moneysaving.

I finally feel that I am ready to focus on something other than the cancer again and give myself something to look forward to so I'm restarting my retirement pot challenge and adjusting my target so I have a clear focus and something positive to aim for. I still want to get £250,000 saved for our initial retirement pot and the aim is to retire when I reach 55 (3 years and 4 months away) so I have worked out my new 1% figure based on this sum. We already have £134,630 saved so we need another £115,370 to reach this goal. Even I'm not mad enough to set that as my target so I've divided this amount by 3 (to represent how many years until we want to retire) which gives me the sum of £38,457 so I need to reach this sum by the end of this year in order to be on track. This means my new 1% is £385 (rounded up to make my life easier) ;)

So strap on in and enjoy my rollercoaster ride with me ;)

I'm off to look at our accounts and see if I can transfer some money into a savings account right now and hopefully get my first couple of percent on the board :)

Total as of today £0 / £38457 = 0%

craftingmad

I'm off and running thanks to:-

£ 157.18 Etsy Earnings for February

£ 6.84 interest from main bank account

________

£ 164.02

I do have some more money to transfer but we paid off our BTL2 mortgage today so have to wait for my payment limit amount to reset before I can send it to the savings account bank :(

Total £164.02 / £38457 = 0.42%

NeverendingDMP

https://forums.moneysavingexpert.com/discussion/comment/81909368#Comment_81909368

Sorry to hear about your mum. Hopefully we can support you in that as well. Knowing you you will save those percentages up quickly 😂