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  • FIRST POST
    • AdventureWanted
    • By AdventureWanted 11th Dec 17, 7:36 PM
    • 551Posts
    • 1,636Thanks
    AdventureWanted
    2018 1% Challenge - 100 ways to make your 1%
    • #1
    • 11th Dec 17, 7:36 PM
    2018 1% Challenge - 100 ways to make your 1% 11th Dec 17 at 7:36 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 3
    • AdventureWanted
    • By AdventureWanted 26th Dec 17, 9:46 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Can I join please? My 1% will be £45.
    Originally posted by pinkfluffybabe
    Hi, welcome to the 1% challenge. I have assigned you number 15 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 26th Dec 17, 9:47 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Thank you for running this challenge, please may I sign up?

    My total debt is £5,775.07 meaning my 1% is £57.76.

    Thanks!
    Originally posted by redlaces
    Hi, welcome to the 1% challenge. I have assigned you number 16 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • cybertortoise
    • By cybertortoise 26th Dec 17, 11:26 PM
    • 119 Posts
    • 856 Thanks
    cybertortoise
    #2 checking in with a massive 0.6% to report! Haha. Don't worry about adding that to the list though as it's ridiculous and it'll change in a week. I'm looking forward to the end of the month as I'll be making a 50% payment on one debt and then in the first week of January I'm paying off a different debt. That should help me get my first few %.
    Fresh start & LBM #3: 29.08.17 DFD: 28.08.20 Debt at highest: £19383.27 Currently: £16576.07
    1% challenge: 0% Frugal 2018: £0/£7500 Decluttering: 0/1095
    • Chocolatedrinker
    • By Chocolatedrinker 26th Dec 17, 11:35 PM
    • 240 Posts
    • 1,779 Thanks
    Chocolatedrinker
    Hi, could I join please? My 1 percent is £14.
    • AdventureWanted
    • By AdventureWanted 27th Dec 17, 7:45 AM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Hi, could I join please? My 1 percent is £14.
    Originally posted by Chocolatedrinker
    Morning, welcome to the 1% challenge. I have assigned you number 17 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • Queenieviolet
    • By Queenieviolet 27th Dec 17, 12:09 PM
    • 169 Posts
    • 240 Thanks
    Queenieviolet
    Please can I play? I owe £4018 so 1% rounded up is £41. I like this idea!
    Last edited by Queenieviolet; 27-12-2017 at 12:16 PM.
    1% challenge - £4018 - reduce by 100 payments of £41.
    • summerset
    • By summerset 27th Dec 17, 4:12 PM
    • 2 Posts
    • 4 Thanks
    summerset
    Thanks for putting this together! At the moment I don't have much debt apart from my student loan which I will not consider for now.
    But I would like to join and save towards my car insurance/mot/servicing bill in March. I expect this to be just under £600. I know its quite small but, I don't want to take this out of my monthly income/emergency fund because it will really throw off my saving momentum.

    SUMMERSET - My 1% is £6
    • Rachel24
    • By Rachel24 27th Dec 17, 9:40 PM
    • 155 Posts
    • 567 Thanks
    Rachel24
    Hi can I join as well please :-)
    I couldn!!!8217;t cope doing 1% of my whole debt so would like to start with my smaller debt. My 1% would be £9. 100 payments of £9 I can do this! It makes it sound so much easier! Xx
    • AdventureWanted
    • By AdventureWanted 27th Dec 17, 10:24 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Please can I play? I owe £4018 so 1% rounded up is £41. I like this idea!
    Originally posted by Queenieviolet
    Hi, welcome to the 1% challenge. I have assigned you number 18 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 27th Dec 17, 10:29 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Thanks for putting this together! At the moment I don't have much debt apart from my student loan which I will not consider for now.
    But I would like to join and save towards my car insurance/mot/servicing bill in March. I expect this to be just under £600. I know its quite small but, I don't want to take this out of my monthly income/emergency fund because it will really throw off my saving momentum.

    SUMMERSET - My 1% is £6
    Originally posted by summerset
    Hi, Welcome to the 1% challenge. I’ve assigned you number 19 in the list of challengers. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 27th Dec 17, 10:32 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Hi can I join as well please :-)
    I couldn’t cope doing 1% of my whole debt so would like to start with my smaller debt. My 1% would be £9. 100 payments of £9 I can do this! It makes it sound so much easier! Xx
    Originally posted by Rachel24
    Hi, welcome to the 1% challenge. I have assigned you number 20 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
    • Maddie57
    • By Maddie57 27th Dec 17, 11:21 PM
    • 137 Posts
    • 607 Thanks
    Maddie57
    Hi

    No 10 here. I have managed to save £110 from my salary which is 6.5% of my debt.

    I also managed to get my first ever temp job. Its only a few shifts after work but it will go towards my debt. I will add it once I get paid.

    Maddie
    Growing old is mandatory
    Growing up is Optional
    • LLM2018
    • By LLM2018 28th Dec 17, 9:45 AM
    • 91 Posts
    • 312 Thanks
    LLM2018
    Hi I would like to join. My 1% will be £25. Thank you.
    • nsl101
    • By nsl101 28th Dec 17, 11:56 AM
    • 36 Posts
    • 43 Thanks
    nsl101
    Can I join please.

    My total Debt is £37,000.00 meaning my 1% would be £370.00

    Its going to be tough, but I am going to try...
    • Littlebigmoose
    • By Littlebigmoose 28th Dec 17, 12:38 PM
    • 25 Posts
    • 79 Thanks
    Littlebigmoose
    Hi, newbie here. Can I join please? My 1% is £180. Determined to be debt free as soon as I can. Will try my hardest
    GOAL: To build savings and be debt free
    (i) £1000 Emergency fund challenge- number 270... £0/£1000
    (ii) 1% Challenge 2018- number 23... 7%
    (iii) Sealed Pot Challenge11 - number 014...
    (iv) 3-6 month emergency fund challenge- number 92...
    • pinkfluffybabe
    • By pinkfluffybabe 28th Dec 17, 4:43 PM
    • 2,485 Posts
    • 7,759 Thanks
    pinkfluffybabe
    No15 reporting 1% achieved from regular saver interest
    Not buying unnecessary toiletries 2018 - 43/162 UU, 11 IN
    Mortgage Free Wannabe 2018 No.180 £495/£2000
    1% challenge No.15 - 11% £2 savers No.12 - £78 5p Savers No.3 - £4.75
    Virtual Sealed Pot No.12 - £62.85/£150 1p a day Challenge £290.36/£667.95
    Completely Crazy Clothes Challenge 2018 #5 £381.28/£150
    • *JaneDoe*
    • By *JaneDoe* 28th Dec 17, 10:35 PM
    • 15 Posts
    • 106 Thanks
    *JaneDoe*
    Hello!! Can I join please?

    My 1% is £100. Some months I will be able to add lots, some months; not a lot.

    Good luck to everyone with their goals!!
    • Littlebigmoose
    • By Littlebigmoose 29th Dec 17, 12:16 PM
    • 25 Posts
    • 79 Thanks
    Littlebigmoose
    Can anyone please tell me how I can subscribe to this thread so I don’t lose it. Thanks
    GOAL: To build savings and be debt free
    (i) £1000 Emergency fund challenge- number 270... £0/£1000
    (ii) 1% Challenge 2018- number 23... 7%
    (iii) Sealed Pot Challenge11 - number 014...
    (iv) 3-6 month emergency fund challenge- number 92...
    • LionessInWinter
    • By LionessInWinter 29th Dec 17, 1:31 PM
    • 397 Posts
    • 2,420 Thanks
    LionessInWinter
    Can anyone please tell me how I can subscribe to this thread so I don’t lose it. Thanks
    Originally posted by Littlebigmoose
    Top of the page, in the green bar, there is a blue arrow next to Thread Tools, click on that and drop down says Subscribe to Thread, click and you should be subscribed.
    PAYDBX18- #9 £5600/£5600 consists of £3800/£3800 credit card and £1800/ £1800 car
    2018 - 1% challenge #14, each 1% is £56 - paid 100%
    • AdventureWanted
    • By AdventureWanted 29th Dec 17, 2:50 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Hi I would like to join. My 1% will be £25. Thank you.
    Originally posted by LLM2018
    Hi, welcome to the 1% challenge. I have assigned you number 21 on the challengers list. If you could mention your number when checking in that’d be great. Good luck with your 1%s.
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