Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • AdventureWanted
    • By AdventureWanted 28th Dec 18, 7:27 PM
    • 1,308Posts
    • 4,539Thanks
    AdventureWanted
    2019 1% challenge
    • #1
    • 28th Dec 18, 7:27 PM
    2019 1% challenge 28th Dec 18 at 7:27 PM
    Welcome to the new home for the The 1% Challenge - 100 ways to make your 1%. Little Miss Uni debt started this amazing thread, and I’ve copied below her first post from the previous thread:

    What's it all about?

    Basically the idea is that money comes to us in lots of small ways and we don't often realise it. When faced with a big debt it can be overwhelming and we find ourselves just waiting for the next pay day when we can make a large payment.

    However, we shouldn't be counting paydays as that's really demotivating, we should be saying we're 100 steps away from being Debt Free or our Savings Target. Each step is 1%. You can do those steps as fast or as slow as you like, as long as you are making progress. There are many ways you can make your 1%. So many in fact that we’ve put together a list of over 100+ ways you can make 1%. Some can even be done several times!!

    When the budget has settled and you have a long journey ahead of you, it often gets tough, trying to look for the light at the end of the tunnel. We often push ourselves hard but always wish we could pay more, do more and save more. Sometimes it's hard to be satisfied with the baby steps that we know are good for us.

    By doing it 1% at a time and celebrating every milestone, you're on the debt-free ladder & you know exactly which rung you're on. You can take the steps as fast or slow as you like. When you need to, you can pause for a while and reflect on your progress and then carry on renewed.

    We need to enjoy the journey and not just the destination.

    Three Golden Rules

    1. You MUST pay your minimums to your debts each month (This is covering your interest) The percents you earn are in addition to covering your monthly minimums.

    2. Always work with accurate balances. Honesty with yourself now saves you from being disappointed with your balances later on.

    3. When you feel overwhelmed or demotivated just focus on your next 1%


    How To Join in on the challenge! -

    Post in BIG colourful letters, your name, 1% and total so far. I'll add you to the list. e.g LITTLE MISS UNI-DEBT - 1% is £80.

    What you might need :-
    • Moneybox / petty cash tin (keep your £s safe!)
    • 100 wage envelopes, or 100 paperclips - (the freer the better - useful if you are saving physical money eg. change/money made from Facebook sales, etc)
    • Notebook
    • Free printable 100 square

    How to...
    Take your exact debt or savings total and divide by 100.
    Round UP to the nearest £1 or £10. This is your 1%
    In your notebook start a list of 100 ways that you can earn 1%
    Print the ideas list below for inspiration
    Use the thread for support & motivation
    Contribute new ideas and what worked for you
    Shout up and join the list & get a member number.
    Post a weekly/monthly update of what you've done and how you did it!
    Colour in your progress on your 100 square
    Put your member number in your sig, and your % so far & spread the word!

    Important Notes

    ***You MUST MUST MUST pay your minimum payments to all of your debts AND save your 1%'s as well.*** This is now a golden rule

    Your 1%'s are what you owe, your min payments are the interest you are paying. I consider the min payments as a 'service charge' the cost of rolling your debt on to the next month. This makes you consider just how much your debt is costing you each month!

    As you pay your 1%'s to your cards, your min payments will start to drop. The faster you put your 1%'s to your cards the less interest you will pay.

    If you save up to 100% and pay it off in one go this is MORE expensive than paying each 1% as soon as you have earned it. (I try to save 5% then pay it off)

    This challenge is probably best for debts/savings £20k or less.
    If you find your 1% still too daunting, just decide on how much you want to pay off this year. Divide it by 100. That should give you a 1% figure that is more suitable. Some find it easier to do one card at a time, starting with the highest interest rate.

    If your debt is still increasing through spending, this challenge isn't right for you yet. You need to go back a step to your SOA and re-work it until your debt is steady and you have a little room for overpayments. Then come back when you're ready!

    Please contribute your 1% ideas - we need to build a fantastic list for people to choose from!

    Anyone wanting to join please post in BIG letters and you’ll get assigned a number.
Page 1
    • AdventureWanted
    • By AdventureWanted 28th Dec 18, 7:29 PM
    • 1,308 Posts
    • 4,539 Thanks
    AdventureWanted
    • #2
    • 28th Dec 18, 7:29 PM
    • #2
    • 28th Dec 18, 7:29 PM
    Little miss uni-debts OFFICIAL ‘1% at a time’ LIST

    100+ ways to make your 1%
    SELLING - EARNING – SAVING


    Print out the list!
    Circle ones you definitely can do, cross out ones that don’t apply, put a star by the ‘maybes’.
    Don’t forget some can be repeated & some will earn more than 1% for you.
    Get Started!

    Selling – Making money from things you already have.

    What to sell…

    Check your loft, car, shed, under stairs, storage, garages for anything unused then decide where to sell it using the ‘Where to sell’ list below.

    1. Clothes – Get cash for your clothes by the kilo – also local drop off stores are available.
    cashforclothing (50p per kg)
    jendacollections (40p per kg)
    sellmyclothes (£1+ per kg + free collection)
    returntoearn (60p per kg)
    clothesbank (60p per kg)

    2. Precious Metals - Gold, Silver & Platinum – Check prices paid on postal gold websites, e.g. cashforgold, Hatton Garden Metals, Cash4Gold or your local gold exchange or jewellery shop.

    3. Collectables - coins, stamps, china, ornaments, beanie babies, Yu Gi Oh, Pokemon cards.

    4. Baby & Maternity items – Netmums or other parenting forums. Don’t forget children out grow their shoes while they’re still in good condition.

    5. Expensive Electronics - Ipods, straighteners, Consoles, laptops etc. Even broken items still fetch £'s as people use them as spares/repair

    6. Books - Amazon Trade-in, Green Metropolis, Zapper, FatBrain, WeBuyBooks. Try BookBarn/Abe Books for rare or sought after books.

    7. Media – Sell CDs, DVDs & Games - MusicMagpie, CashConverters, CEX/WeBuy

    8. Foreign Currency – Make the most of the change left over from holiday. e.g. Cash4Coins

    9. Scrap Metal. Collect any scraps from your shed, garage, off cuts from plumbing, boiler replacements or house renovation. Take it to a local scrap yard, get cash based on the weight & metal type. Don't forget to take ID.

    10. Musical instruments These often can be sold to a local music store, on eBay or Gumtree, listed as ‘buyer collects’ to avoid posting expensive fragile items.

    11. Mobile phones – Trade in old mobiles, shop around for the best price for your model. E.g. Envirofone & Mazuma.

    12. Large Items - unused cars, bikes, gym equipment, golf clubs & bags, working white goods replaced when upgrading, furniture. You also get the added bonus of extra space.

    Where to sell...
    Car boot, Village Halls, Fayres, Craft shows
    EBay - Use free listing weekends. Even random things sell! Best time for listings to end is between 8pm and 10pm on a Sunday.
    Gumtree
    Local Paper
    Freeads
    Play.com, Amazon marketplaces/trade-in.
    Notice boards at work, schools or village halls
    Online classifieds or online version of your local paper – e.g. www.thisisads.co.uk & pick your county.
    Freecycle – Although most items here are ‘free to a good home’ some ads do ask for a donation/price
    Craigslist – Although US based, it still works if you are selling digital services. e.g. music tuition via Skype.
    Earning – Requires investing your time to earn. Making your own products or providing a service to earn extra in your free time.

    13. Overtime Picking up extra hours at your existing job is the simplest way to ‘up your income’.

    14. Part time work Bars, nightclubs, evening factory shifts, cleaning, catalogue delivery all have flexible hours. Use Direct.gov to search for local p/t jobs.

    15. Feedback for Developers UserTesting.com & lets you become a beta tester for new websites that are being built. You report any errors, bugs and your opinions. Get paid $10 into your PayPal for 15 min reviews.

    16. Crafting - Quilts, Greetings cards, face painting, temporary tattoos, party bags, hampers, nappy cakes, invitations, hair accessories, bath bombs, cross-stitch cards (ask 415SanFran & CraftingMad). These can be sold on Folksy, Etsy, your local Facebook group, Gumtree or at local events.

    17. Freelancing – Use your skills and earn money proofreading, completing data entry, CV & article writing. Also good for anyone with artistic, technical or specialist skills. Elance.com & ODesk are busy workplaces where you can bid on jobs.

    18. Pocket Money Freelancing. You can offer ‘gig’s on Fiverr, FiveSquids. Where you offer a simple service for a flat fee.

    19. Affiliates. Lots of websites run affiliate schemes. You get a commission any time you help the company to make a sale. Create an affiliate site (ask Little Miss if you need any help)

    20. Competitions - see competitions board

    21. Local Errands - Dog walking, house sitting, , lawn cutting, errands, car washing, ironing, tutoring, music lessons, Avon, hosting makeup, underwear parties

    22. Check-in Apps Use QuidCo app when out shopping; get 10p or 15p for every shop you check into.

    23. Change - Look for cash on the ground. If out in a pub, notes are usually found by on the floor by the bar or by the fruit machines. Take to the police station, leave your name & address. If it's not collected, it legally becomes yours.

    24. Shopping Checks - Use the FieldAgent app, get paid around £7 for every price or store check your do.

    25. Mystery Shopping / Dining

    26. Baking - Cupcakes, cake-pops, wedding cakes. Ideal for parties, country fairs etc

    27. Local Businesses – Try to strike up a relationship where you get a commission for any sales you refer. Your local gym often has this scheme in place already.

    28. Typing – TV subtitles and Film ‘closed captions’ can be done from home.

    29. Plants - Germinate seeds & sell as plants

    30. Writing - If you have experience in a particular subject or niche, write an e-book an sell it online (Ask Little Miss if you need help)

    31. Reviews & Surveys - DooYoo, Ciao, Valued Opinions, Swagbucks, Pure profile, My Survey, Superpoints, Maximiles, One Poll, Global Test Market, SlicethePie, YouGov, Royal Mail Surveys

    32. Focus groups - schoolzone.co.uk for teaching staff.

    33. Bank Accounts - Switch to a Halifax Reward account & get £5 pcm

    34. Peer to Peer Lending. If you have savings you could consider using sites like Zopa. Lenders earn better interest on their savings. Borrowers get cheaper loans

    35. Government Funding If you're creative and are working on an expensive project that benefits your community - consider applying for National Lottery Funding. Thousands of projects a year are funded. Also look at Business Link they give details for grants and funds to support people in certain areas. May be useful for people wishing to study, start a business or get skills training.

    36. ‘Risk Free’ Gambling – Please do plenty of research before starting, follow the guides & never deposit more than you can afford to lose. Matched Betting has an MSE guide. Wahoo Bingo & Bingo referrals have also been mentioned.

    37. Cash - Purge your money boxes, tins, old accounts, car ashtrays & down the back of the settee.

    38. Video Clips – Instead of uploading your funny moments to YouTube, send them into You've been Framed & potentially get £250

    39. Internet Researcher - Join AQA (63336.com) when they are recruiting. Answering questions from home on your PC

    40. Lodgers – Advertise your spare room or home on SpareRoom.co.uk if you are looking for a permanent lodger or on AirBnB if you’re happy for guests to pay to stay occasionally. Ideal if you live close to big cities, convention centers, music venues or tourist locations

    Saving– Finding ways to minimize the expenses you already have.

    41. Clubcard - Use clubcard coupons for grocery shopping, save the cash.

    42. Cashback - Use cashback websites before shopping online - TopCashBack, Quidco

    43. Promo Codes - Use Hot UK Deals to search for promo codes before buying online

    44. Budget - Re-do your SOA to see if you can save an extra percent each week/month out of your budget

    45. Direct Debits - Check your direct debits are all correct, cancel any un-used ones & put cash aside

    46. Payment Protection Insurance (PPI) - Follow the simple MSE guide to see if you were mis-sold. Consider that it may have been added to any mortgage, loans, car finance, credit cards without you knowing.

    47. Bank charges - follow the guidelines on MSE use the letter templates. Get charges returned.

    48. Birthdays & Christmas Politely request cash instead of presents. You could also request specific useful items that you would need to buy anyway – then save the cash.

    49. Insurance – An expensive essential. Shop around for house, car, life, holiday, mobile phone, business - or any kind of insurance on comparison websites.

    50. Returns - Take back any impulse purchase while there's time

    51. Faulty products. Don’t forget many electrical items have long warranties. Save buying a new one.

    52. Transport - Find free car parking and then walk the last bit into work.

    53. Buses - walk an extra 1 or 2 bus stops to decrease the fare or for short journeys walk it all

    54. Lunches - Invest in a coolbag & take packed lunches.

    55. Daily Spends - Avoid taking cash to work

    56. Snacks - Pre-buy snacks/cans to avoid the vending machine prices at work

    57. Dentistry - Go to a local dentistry college to avoid expensive treatments

    58. Hair & Beauty - Go to local beauty college for lower cost treatments

    59. Groceries - Look at Grocery challenges & recipes to get better value for your weekly shop

    60. Credit cards - Balance transfers to 0% card will save you interest

    61. Avoiding Interest – If you have a close relative who is in a position to lend you money, even if just for 1 debt, the debt becomes interest free.

    62. Clothes - Swap clothes on my ‘Big Wardrobe’ instead of buying new

    63. Car Repairs - Do some googling - check if what needs to be fixed is a common problem which should be fixed at no cost by the dealership.

    64. Days Out - Use Clubcard rewards for days out tickets instead of cash

    65. University - Check any local bursaries available to help with fees

    66. Loose Change - Ask pubs & shops to change coins instead of paying 8% fee to use CoinStar machines. HSBC also have free coin paying in machines

    67. Snowball - Pay off your highest interest debt first. Use the online snowball calc.

    68. Loans - If you definitely need a loan contact your local credit union for cheaper than bank rate loans

    69. Utilities - Shop around for cheaper gas & electric suppliers. Also works with phone & internet providers too.

    70. Holidays - Use the MSE ‘flight-checker’ to find for low cost flights

    71. Bills - Give correct Gas, Electric readings to the Utility company instead of going on their estimates. If they have been overestimating it will put your account in credit.

    72. Government Allowances - Check those retired in your family are receiving winter fuel allowance.

    73. MSE Challenges - Join in with the 'NSD' or 'PAD' challenges or start a spending diary.

    74. Reduced Items - Shop at the end of the day. Supermarkets marks down products at different times - Morrisons - around 6pm, Tesco - around 7pm

    75. Supermarket Shopping - Some delivery slots are cheaper than bus fare or a petrol thirsty car

    76. Books - If you have a Kindle, iPad or iPhone there are a million free books to read on Amazon - to save buying full price paperbacks

    77. Entertainment - Reduce your Sky package - get Freeview

    78. Loyalty Points - Cash out your Boots, Nectar or other loyalty points for your next purchase

    79. Monthly Payments – These are long term savings. You often pay 10% extra to pay your car insurance or TV license monthly. Start saving an extra monthly payment & pay the yearly fee at renewal time

    80. Groceries (Shelf Life) - Consider shopping with Approved Foods (VERY cheap online shopping for short date food)

    81. Groceries (Best Prices) - Use MySupermarket to find the lowest cost groceries

    82. Transport - Trade down to an economical 2nd hand car - can save hundreds in car tax & hundreds in petrol

    83. Music - Use ChartBrain or Last.fm on your computer instead of buying new albums/music

    84. Appliances - Use Freecycle to pick up replacement washers, freezers etc for free!

    85. Opticians - Shop online to save on contact lenses or glasses. Just use the details on your prescription from the optician. If you use a computer at work check if they have a scheme to reimburse the cost of your eye test.

    86. Expenses - If you claim expenses from your employer, become strict about getting, keeping and collecting your receipts safely. It all adds up.

    87. DIY Repairs - If your washer breaks use washerhelp.co.uk for instructions on simple repairs

    88. Council Tax - Check your council tax is in the right band using the MSE guide

    89. Phone Calls - Don't pay for expensive calls to banks etc - use the SAY NO TO 0845 for well hidden freephone numbers

    90. Groceries (Brands) - Do the "drop a brand" challenge. Shopping one brand lower on all your items than usual, to see what you save

    91. Fuel - Drive economically to save fuel (gradual acceleration & breaking). There are smartphone apps that grade your driving ability after each journey.

    92. Benefits – Use the ‘entitled to’ benefits checker to ensure you are getting what you should be.

    93. Car Insurance – For 'young persons' car insurance, go with an insurer that uses the 'telemetry' black boxes.

    94. Pet Food – Buy dry pet food online, in bulk to save money.

    95. Utilities – Switch to direct debit, an eco tariff, get both from the same supplier (dual fuel) Also some suppliers’ link your utilities spend to your Tesco Clubcard allowing you to collect more rewards.

    96. Bills – Some companies are now charging for paper statements. Switch from paper (£1.50 per bill) to e-statements.

    97. Trains – Use the MSE 'TicketySplit' app, or for frequent journeys get a RailCard

    98. Kids – Check out the MSE Summer Holiday tip page & also the “Free ways to entertain the kids” forum thread, to find fun, free things to do.

    99. Foreign Currency - Use the MSE Travel Money checker

    100. MSE Weekly E-mail – Sign up & get the latest, time-sensitive deals, offers and tips.
    • AdventureWanted
    • By AdventureWanted 28th Dec 18, 7:31 PM
    • 1,308 Posts
    • 4,539 Thanks
    AdventureWanted
    • #3
    • 28th Dec 18, 7:31 PM
    • #3
    • 28th Dec 18, 7:31 PM
    The 1% members:-

    1) AdventureWanted - 1% = £150.00 Now at 93%
    2) Cybertortoise - 1% = £40.00 Now at 21%
    3) Less talk and more action - 1% = £150.00 Now at 4%
    4) Lynseydee - 1% = £16.80
    5) Chocolatelover93 - 1% = £31.00
    6) Buffythedebtslayer - 1% = £50.00 Now at 26%
    7) Weenapoops - 1% = £37.00 Now at 8%
    8) Sa1sysoo - 1% = £130.52
    9) Fatpat - 1% = £50 Now at 1%
    10) Truebluemummy - 1% = £30
    11) A Random Man - 1% = £87.00 Now at 2%
    12) Destinygamer - 1% = £26.00 Now at 2%
    13) Miss empty piggy - 1% = £30.00 Now at 4%
    14) Crazy_cat_lady - 1% = £57.50
    15) Lozza001 - 1% = £42.00
    16) Grassgirl - 1% = £320.00 Now at 2%
    17) NeverendingDMP - 1% = £10.00 Now at 100%
    17) NeverendingDMP - 1% = £289.79 Now at 35%
    18) a_silver_lining - 1% = £40.00 Now at 100%
    19) Spudsmum - 1% = £40.00 Now at 16%
    20) Henna123 - 1% = £5.00
    21) craftingmad - 1% = £50.00 Now at 6%
    22) BelleofBilboa - 1% = £20.00 Now at 100%
    23) never too old - 1% = £150.00
    24) Seahorsey - 1% = £93.00
    25) Moneybutterfly35 - 1% = £160.00 Now at 6%
    26) Donewithdebt18 - 1% = £24.00
    27) Littlebigmoose - 1% = £180.00 Now at 11%
    28) Luckypenny - 1% = £30.00
    29) Sky_ - 1% = £118.00 Now at 13%
    30) Thrice - 1% = £25.00
    31) Bestlifenow - 1% = £10.00
    32) IWillSucceed - 1% = £76.00 Now at 5%
    33) Charlies tribe - 1% = £50.00 Now at 7%
    34) Allsswell - 1% = £110.00
    35) FaceHeelTurn - 1% = £53.00 Now at 26%
    36) Squeeeek - 1% = £66.00
    37) MediumDino - 1% = £100.00 Now at 57%
    38) CrazyCatLady84 - 1% = £150.00
    39) Apricity - 1% = £10.00
    40) MarthaGwen - 1% = £5.60 Now at 17%
    41) NorthernPeach - 1% = £90.00 Now at 21%
    42) DanTheWelder - 1% = £162.15 Now at 13%
    43) Bliss118 - 1% = £50.00 Now at 2%
    44) Pedrouk - 1% = £26.00
    45) JustAnotherMuppet - 1% = £190.00
    46) WhatLifeIs - 1% = £90.00
    47) LexieLou - 1% = £14.10
    48) Charhen19 - 1% = £67.00 Now at 2%
    49) Trixabell - 1%= £333.00
    50) Princesspennies - 1% = £60.00
    51) Apricity - 1% = £25.00
    52) Msfb - 1% = £110.00
    53) Pozza_73 - 1% = £13.00
    54) Lifeatthekings - 1% = £30.00
    55) Lupus_Lou - 1% = £1,060.00 Now at 2%
    56) Grazeley - 1% = £470.00 Now at 1%
    57) Bluetulip1980 - 1% = £40.00 Now at 13%
    58) AuctionFever - 1% = £35.00
    59) Remote_Control - 1% = £14.43 Now at 32%
    60) A Random Man - 1% = £20.00
    61) Nat21luv - 1% = £142.02 Now at 19%
    62) oldtractor - 1% = £9.00
    63) Lynneee - 1% = £41.94 Now at 6%
    Last edited by AdventureWanted; 13-11-2019 at 10:06 AM.
    • Less Talk and More Action
    • By Less Talk and More Action 28th Dec 18, 8:06 PM
    • 3 Posts
    • 15 Thanks
    Less Talk and More Action
    • #4
    • 28th Dec 18, 8:06 PM
    • #4
    • 28th Dec 18, 8:06 PM
    Hi. I would like to join please with a debt to aim at for this year of £15000 - so my 1% is £150. I am very new at this but excited to get going for 2019 - you may have to bear with my rookie mistakes. Thanks
    • NeverendingDMP
    • By NeverendingDMP 28th Dec 18, 8:07 PM
    • 527 Posts
    • 1,762 Thanks
    NeverendingDMP
    • #5
    • 28th Dec 18, 8:07 PM
    • #5
    • 28th Dec 18, 8:07 PM
    Hi there please can i join up again.
    I found it so helpful last year and managed to smash all my expectations and reduce my debt by 15%. Im on track to have paid of 20% by end of 2019 but need to focus on saving for something this year.

    My number on the list above is 32 and im aiming for 1000. My 1 % is ten pounds. This is seperate to anything im paying of the debts.
    Thank you for running the thread and good luck all. X
    35,213 - Jan 2018, 19799 remaining.
    Mortgage 77224- 71647 remaining.
    Make 2019- 2207/2019 EF =210
    • never too old
    • By never too old 28th Dec 18, 8:48 PM
    • 2,962 Posts
    • 31,355 Thanks
    never too old
    • #6
    • 28th Dec 18, 8:48 PM
    • #6
    • 28th Dec 18, 8:48 PM
    Evening I’m no 70( I think )
    My 1% for 2019 is £150 please 😁
    £2019 in 2019 challenge no 18
    1% challenge no 70
    2019 Frugal Living Challenge

    £2077.52 / 2019
    0%/100%
    • Sa1sysoo
    • By Sa1sysoo 28th Dec 18, 9:20 PM
    • 283 Posts
    • 1,202 Thanks
    Sa1sysoo
    • #7
    • 28th Dec 18, 9:20 PM
    • #7
    • 28th Dec 18, 9:20 PM
    Thanks for carrying me over
    2019 £2 Savers Club #6 - £0/£100 Target Weight Loss: 0/46
    2019 1% Club (#8) - 36.65%/100% Declutter 2019 in 2019 - 401/2019
    Joint Overdraft: £1,400/£1,500, Barclaycard (0%): £4,139.58/£5,197.37
    DH Overdraft: £1,800 Virgin CC (0%):£3,847.08/£3,857.70
    • DestinyGamer
    • By DestinyGamer 28th Dec 18, 9:22 PM
    • 52 Posts
    • 552 Thanks
    DestinyGamer
    • #8
    • 28th Dec 18, 9:22 PM
    • #8
    • 28th Dec 18, 9:22 PM
    DestinyGamer
    Hi may I join please? I’ve never done this but want to pay off my loan in 2019.
    My 1% for 2019 is £26 which is totally doable when it’s put like this.
    Last edited by DestinyGamer; 07-01-2019 at 8:47 AM.
    Total debt 12/18 £9365.74 | Now: £9337.65
    #12 2019 1% challenge 2% of 100%
    Loan £2552.25 | Now ...
    My debt free Diary is - 2019: Focus & Flow
    • lynseydee
    • By lynseydee 28th Dec 18, 11:15 PM
    • 1,770 Posts
    • 7,864 Thanks
    lynseydee
    • #9
    • 28th Dec 18, 11:15 PM
    • #9
    • 28th Dec 18, 11:15 PM
    Can I just ask what people do if their debts are on 0% deals? Do you still pay off your debt or put your percentages into savings until your debts start charging interest? All three of my cards are on 0% so seems silly paying extra if they're not costing me anything at the moment. Just wanted other people's views on it.
    Did owe £9,951.96

    Now helping hubby pay off loan. Finally paid off

    Owe Virgin £5,950.00 at 0% til June 2009 £3,427.89. Owe HSBC £5,460.78 2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 2010
    • DestinyGamer
    • By DestinyGamer 28th Dec 18, 11:55 PM
    • 52 Posts
    • 552 Thanks
    DestinyGamer
    Can I just ask what people do if their debts are on 0% deals? Do you still pay off your debt or put your percentages into savings until your debts start charging interest? All three of my cards are on 0% so seems silly paying extra if they're not costing me anything at the moment. Just wanted other people's views on it.
    Originally posted by lynseydee
    Hey lynsey! A couple of my cards are 0%. I pay minimum amount each month on each of them. I don’t think it’s silly, I think it’s fun. I am treating it like a game and look forward to watching the figures drop. I’d only spend the extra money on unnecessary things anyway. If I have money left after paying my rent, bills and minimum payments then why not pay it off quicker
    Total debt 12/18 £9365.74 | Now: £9337.65
    #12 2019 1% challenge 2% of 100%
    Loan £2552.25 | Now ...
    My debt free Diary is - 2019: Focus & Flow
    • henna123
    • By henna123 29th Dec 18, 4:13 AM
    • 131 Posts
    • 805 Thanks
    henna123
    Hi x I didn't do so good last year but will do one at a time. 1% of cc1 is £5. Seems more achievable lol. Will update as it's paid off. Will only count anything over minimum payments z
    1% challenge 2019
    • Sky_
    • By Sky_ 29th Dec 18, 5:14 AM
    • 411 Posts
    • 1,440 Thanks
    Sky_
    Can I join please. I'm aiming to become debt neutral in 2019 and my 1% is £118.



    Can I just ask what people do if their debts are on 0% deals? Do you still pay off your debt or put your percentages into savings until your debts start charging interest? All three of my cards are on 0% so seems silly paying extra if they're not costing me anything at the moment. Just wanted other people's views on it.
    Originally posted by lynseydee

    My (well mine and OH's) debt is all on 0% deals that have another 18 months or more to run. I pay the minimums and save spare cash into regular savers and other interest paying accounts. The current deals were fee-free switches and we make £200+ a year by saving our excess cash in interest-paying accounts. Apart from the interest gained, I also like to know that we have cash available if we have a car/roof/other emergency, so this way suits us.



    Over the last 2.5 years we've reduced the card debts from -£40,000 on 0% (all spent on essential home improvements/repairs) to -£11,800, using this method. We also have around £7,000 in rapidly increasing savings, so aren't far off being debt-neutral. We'll carry on saving and increase our pension contributions once we're debt free (next step is mortgage neutral) rather than spending any 'spare' cash. We earn average salaries, have a huge mortgage and budget for a holiday each year, so it can be done.
    Goal weight 1: 14.6 /14.8



    Goal weight 2: 13.0
    • chocolatelover93
    • By chocolatelover93 29th Dec 18, 10:09 AM
    • 1,017 Posts
    • 7,233 Thanks
    chocolatelover93
    Can I join please?
    I have £3027.61 to pay off my 1% is £31
    • a_silver_lining
    • By a_silver_lining 29th Dec 18, 10:52 AM
    • 500 Posts
    • 1,700 Thanks
    a_silver_lining
    I was waiting for this thread

    4K so 1% is £40.

    I've paid 50.48/4K so far so at 1.25%.

    Have plans for about 25% of my total from money I am waiting for and a small payrise I'm expecting in March, but next step is to sell a lot of stuff!!
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.
    11K OP 31.03.19

    Current goal: 0/5K saved for Ireland purchase in 2021
    • spudsmum
    • By spudsmum 29th Dec 18, 11:50 AM
    • 459 Posts
    • 2,595 Thanks
    spudsmum
    I will join again please.

    Think I set my target too high last time as it took ages to make each 1%. I've got 4K on a 0% card finishing in Dec 19 so I'll aim to clear that and my 1% will be £40
    Total debts £21050! now £17461.86 . 1% challenge £218/£4000 (5%) Total extra income made in 2018 £3580.79 2019 £367.20 frugal budget 2019 £82.96/£600 Aiming for debt free at 40 - only 20 months to go!
    • lynseydee
    • By lynseydee 29th Dec 18, 12:51 PM
    • 1,770 Posts
    • 7,864 Thanks
    lynseydee
    My (well mine and OH's) debt is all on 0% deals that have another 18 months or more to run. I pay the minimums and save spare cash into regular savers and other interest paying accounts. The current deals were fee-free switches and we make £200+ a year by saving our excess cash in interest-paying accounts. Apart from the interest gained, I also like to know that we have cash available if we have a car/roof/other emergency, so this way suits us.



    Over the last 2.5 years we've reduced the card debts from -£40,000 on 0% (all spent on essential home improvements/repairs) to -£11,800, using this method. We also have around £7,000 in rapidly increasing savings, so aren't far off being debt-neutral. We'll carry on saving and increase our pension contributions once we're debt free (next step is mortgage neutral) rather than spending any 'spare' cash. We earn average salaries, have a huge mortgage and budget for a holiday each year, so it can be done.
    Originally posted by Sky_
    Well done.

    I was thinking along the same lines in that I can afford to make the minimum payments every month whilst it's at 0% so might as well try and gain some savings from any money I have left over. I do currently have savings which would pay off all my debt but this was from my financial settlement from my divorce and want to use it for mine and my son's future so happy to keep that in savings and pay off the minimums on my cards. I did, not so long ago, pay a smallish (compared to what I owe) balance off from my savings when my credit card started charging interest and I didn't have any 0% offers from any of my cards available. I'm happy to do that if it doesn't eat into too much of my savings as I know that does make sense.

    So I guess I don't really have a sum that I will be paying off of my credit cards at the moment above the minimum payments but will keep following this thread as I love reading everyone's achievements in paying off their own debt.
    Did owe £9,951.96

    Now helping hubby pay off loan. Finally paid off

    Owe Virgin £5,950.00 at 0% til June 2009 £3,427.89. Owe HSBC £5,460.78 2.9% til May 2010 £3,703.07. Owe Post Office £1,676.62 at 0% til September 2010
    • LuckyPenny
    • By LuckyPenny 29th Dec 18, 9:07 PM
    • 837 Posts
    • 6,636 Thanks
    LuckyPenny
    Hi
    Yes please my 1% is £30
    Thanks
    LP x
    1% Challenge #28 £3,530.20/£3,000 117%
    Pay off all debts by Xmas 2019 #40 £3,860.16/£4755
    Christmas 2019 Saving #16 £120/£365
    Competition wins £12,719.59
    • Buffythedebtslayer
    • By Buffythedebtslayer 29th Dec 18, 9:37 PM
    • 15,984 Posts
    • 55,821 Thanks
    Buffythedebtslayer
    Can I join please?

    My 1 % s 50 pounds.

    thank you

    XXX
    Debt Free as of 26/07/19 (third time is the charm!) Now paying myself back all my savings! Target 1= 5226/5000 (across all accounts achieved until Christmas) Avoiding the CC!
    • weenapoops
    • By weenapoops 30th Dec 18, 4:46 PM
    • 223 Posts
    • 542 Thanks
    weenapoops
    I would love to join please My 1% is £37.
    Got lots to save for this year but want to get rid of some debt too if i can
    You've got to be in it to win it!! Just believe to receive!!


    2019 Wins - January - Yardie DVD, February - Tickets to Cocktails in the City and free cocktail
    • A Random Man
    • By A Random Man 30th Dec 18, 8:33 PM
    • 581 Posts
    • 2,295 Thanks
    A Random Man
    Hi could I join if possible currently I just have my car loan outstanding at £7747.46 however my car is currently in the garage as the clutch has died, so I am going to put the work on the credit card as it's 0% for another 20 months, I anticipate this will cost around £500 but to make it easier I will say £1000 as that's the credit limit on the card.

    So my 1% would be 87
    Current Savings: £5527.44
    Matched Betting £4699.65|eBay £348.49|Quidco £114.73|Surveys £58.53
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

227Posts Today

2,340Users online

Martin's Twitter