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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 Ive 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 weve 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 youll get assigned a number.
Page 6
    • A Random Man
    • By A Random Man 6th Jan 18, 10:22 PM
    • 192 Posts
    • 935 Thanks
    A Random Man
    Just a quick update folks i am now making regular pad's to get rid of the debt asap, at the moment most of my pad's go towards my second credit card with the larger balance, so at the moment my total is:

    #11 3.37% Paid Off
    Total Debt 1st Jan 13100/11423.30 (12.79% Paid)
    Make 10 A Day In April (Matched Betting) 750/190.87
    Make 10 A Day In April (eBay) 300/1.85
    Payment A Day total: 444.19
    Halifax Credit Card, Tesco Credit Card, Barclaycard, Hitachi Loan
    • NeverendingDMP
    • By NeverendingDMP 6th Jan 18, 10:48 PM
    • 73 Posts
    • 408 Thanks
    NeverendingDMP
    Hello there. Can I sign up to the challenge please. My husband's debts have just been combined with my DMP so it's gonna be a long haul with the payments we can currently afford. Breaking it down to 1% will make it seem far easier as I can now ignore the big total ( I know it's still real!)
    Total was 35213 at new year so my 1% is 352.13. I'm hoping to get to 6% maybe 7% if I can by end of the year.
    I'm almost at 0.5 lol.
    • LLM2018
    • By LLM2018 7th Jan 18, 1:54 PM
    • 91 Posts
    • 312 Thanks
    LLM2018
    #21 checking in with a small payment which means I'm now at 6% paid off so far
    #21 Make 1% challenge 31.8/100%
    #78 PAYDBX '18 794/2494
    #6 Crazy clothes challenge
    #19 Surveys pay for Xmas' 18 5
    • Blackberrycurved
    • By Blackberrycurved 7th Jan 18, 4:14 PM
    • 91 Posts
    • 634 Thanks
    Blackberrycurved
    I like this thread sharing and supportive rather than just number crunching. Week 2 next week of no coffee shops so hopefully will be off the mark.
    Blackberry Curved debt free 2018 Number 17 1607/11,000
    Save for Christmas Number 19 90 /365
    1% challenge Number 7 70/110
    • LuckyPenny
    • By LuckyPenny 7th Jan 18, 7:32 PM
    • 765 Posts
    • 5,728 Thanks
    LuckyPenny
    Sold a dress for 7.50 on eBay and 'spent' 3.95 of my wobbled costa points on a sandwich and 4 Blue Rewards on my Barclays account. LP x
    Last edited by LuckyPenny; 07-01-2018 at 7:45 PM.
    1% Challenge [COLOR=red] #28 1,500.32/4000 37.5%[/COLLAR]
    Pay off all debts by Xmas 2017 #40 2,214/6500 Christmas 2018 Saving #16 107/365
    Competition wins 12,079
    Declutter 3 per day
    • NuclearGreyhound
    • By NuclearGreyhound 7th Jan 18, 8:38 PM
    • 4 Posts
    • 7 Thanks
    NuclearGreyhound
    Count me in - Total Debt - 30,634.52 = 1% 306.35. Large amount but doable.
    • A Random Man
    • By A Random Man 7th Jan 18, 8:53 PM
    • 192 Posts
    • 935 Thanks
    A Random Man
    Adventure wanted would it be possible to change my 1% total as i was planning to clear my loan this year however i have decided to keep my car for the time being at least and now i want to focus solely on my credit cards and then next year tackle my loan. Based on that my new 1% would be 41 and my current 1% paid off would be 6.10%
    Last edited by A Random Man; 07-01-2018 at 9:16 PM.
    Total Debt 1st Jan 13100/11423.30 (12.79% Paid)
    Make 10 A Day In April (Matched Betting) 750/190.87
    Make 10 A Day In April (eBay) 300/1.85
    Payment A Day total: 444.19
    Halifax Credit Card, Tesco Credit Card, Barclaycard, Hitachi Loan
    • *JaneDoe*
    • By *JaneDoe* 7th Jan 18, 10:13 PM
    • 15 Posts
    • 106 Thanks
    *JaneDoe*
    #24 adding 1% to my total from a mixture of tips, surveys and making a hash of budgeting for the month! thankfully in my favour!! Total now up to 3% well done to everyone so far. Great challenge, very motivating!
    • AdventureWanted
    • By AdventureWanted 8th Jan 18, 9:53 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Please can I join. Love this idea.

    My total debt is 13,742.07 (looks scary like that!)

    so my 1% is 137 - I'm going to round it up to 140

    Bring it on!!
    Originally posted by Steve1097
    Hi, welcome to the 1% challenge. Ive assigned you number 31. If you could mention your number when checking in thatd be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 8th Jan 18, 9:56 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Hello there. Can I sign up to the challenge please. My husband's debts have just been combined with my DMP so it's gonna be a long haul with the payments we can currently afford. Breaking it down to 1% will make it seem far easier as I can now ignore the big total ( I know it's still real!)
    Total was 35213 at new year so my 1% is 352.13. I'm hoping to get to 6% maybe 7% if I can by end of the year.
    I'm almost at 0.5 lol.
    Originally posted by NeverendingDMP
    Hi, welcome to the 1% challenge. Ive assigned you number 32. If you could mention your number when checking in thatd be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 8th Jan 18, 10:00 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Count me in - Total Debt - 30,634.52 = 1% 306.35. Large amount but doable.
    Originally posted by NuclearGreyhound
    Hi, welcome to the 1% challenge. Ive assigned you number 33. If you could mention your number when checking in thatd be great. Good luck with your 1%s.
    • AdventureWanted
    • By AdventureWanted 8th Jan 18, 10:04 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    Adventure wanted would it be possible to change my 1% total as i was planning to clear my loan this year however i have decided to keep my car for the time being at least and now i want to focus solely on my credit cards and then next year tackle my loan. Based on that my new 1% would be 41 and my current 1% paid off would be 6.10%
    Originally posted by A Random Man
    Yep all changed
    • AdventureWanted
    • By AdventureWanted 8th Jan 18, 10:12 PM
    • 551 Posts
    • 1,636 Thanks
    AdventureWanted
    So today my dd has come out for cc4 meaning I have finally achieved my 1st 1%. Only 8.40 away from the 2nd, so hopefully I can round down my bank account tomorrow to achieve this.

    #1 = 1% paid
    • A Random Man
    • By A Random Man 8th Jan 18, 10:26 PM
    • 192 Posts
    • 935 Thanks
    A Random Man
    Hi everyone i have decided to make a payment to clear my first credit card so now it has 0 balance this now means my total is:

    #11 20.29% Paid Off
    Total Debt 1st Jan 13100/11423.30 (12.79% Paid)
    Make 10 A Day In April (Matched Betting) 750/190.87
    Make 10 A Day In April (eBay) 300/1.85
    Payment A Day total: 444.19
    Halifax Credit Card, Tesco Credit Card, Barclaycard, Hitachi Loan
    • NuclearGreyhound
    • By NuclearGreyhound 9th Jan 18, 1:43 AM
    • 4 Posts
    • 7 Thanks
    NuclearGreyhound
    With the original debt, do I take 1% of the monthly payments or 1% of the loan amount, not the interest?
    • Rachel24
    • By Rachel24 9th Jan 18, 9:18 PM
    • 155 Posts
    • 567 Thanks
    Rachel24
    Number 20 - finally got my 1% made from eBay sale !!!128522;
    • lynseydee
    • By lynseydee 9th Jan 18, 10:17 PM
    • 1,685 Posts
    • 7,610 Thanks
    lynseydee
    With the original debt, do I take 1% of the monthly payments or 1% of the loan amount, not the interest?
    Originally posted by NuclearGreyhound
    You take your debt amount either over one debt or all of them if you feel this is achievable. For example if you owed 1,000 your 1% would be 10.
    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
    • Rachel24
    • By Rachel24 10th Jan 18, 12:42 PM
    • 155 Posts
    • 567 Thanks
    Rachel24
    Number 20 - now at 2% :-)
    • dizzytina
    • By dizzytina 10th Jan 18, 3:02 PM
    • 728 Posts
    • 3,584 Thanks
    dizzytina
    Number 29 checking in :-) Just returned a top that I ordered in the sales and used the money to make a payment off my card so that's another 13.20. Just 3.14 till I reach 1% so I will list some items on ebay and facebook tonight to try and achieve it this week.
    MBNA 8812.798,411.69 SANT 3168.742893.13 BARCLAY 5661.875573.53 NEXT 0 ARGOS 1857.121569.18
    #29 1% debt challenge 124.00/30.84
    • *JaneDoe*
    • By *JaneDoe* 11th Jan 18, 1:39 PM
    • 15 Posts
    • 106 Thanks
    *JaneDoe*
    #24 back with another 2% had 250 appear in my bank today for a bank switch! Thrilled!!
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