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
    • 1,118Posts
    • 3,928Thanks
    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 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 5
    • FaceHeelTurn
    • By FaceHeelTurn 8th Jan 19, 4:50 PM
    • 61 Posts
    • 104 Thanks
    FaceHeelTurn
    #35 checking in with my first 1%

    Thanks!
    Debts: CC1: 1675.83 1427.01 CC2: 3209.11 2930.14 CC3: 704.04 209.05 OWE PARTNER: 376.56
    2019 1% Challenge: 14%
    • weenapoops
    • By weenapoops 8th Jan 19, 8:42 PM
    • 216 Posts
    • 512 Thanks
    weenapoops
    #7 checking in

    Had a couple of wins on bingo so managed to pay off 228 That's another 6% paid off - 7% in total now paid off
    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
    Sealed Pot Challenge #085 - 253.20
    1p Challenge - 40.95 (Jan/Feb/Mar crossed off the list)
    2019 1% challenge #7 - 12% of 100%
    • craftingmad
    • By craftingmad 9th Jan 19, 5:34 PM
    • 1,559 Posts
    • 6,125 Thanks
    craftingmad
    Number 21 checking in and declaring that I am now up to 6% after returning 65 worth of impulse January sales buys
    Mortgage - 125k 32k 24k OP Made 2010 29320 OP 2011 4200
    BTL Mortgage 81K BTL Mortgage 82
    No Craft Spending in 2019 10/365 Stash Busting Challenge 2019 31/2019

    1% club member 17,18& 21 - 100% reached 3 times 10k New Target 300.57/5000 6%
    NSD JAN 8/16
    • a_silver_lining
    • By a_silver_lining 10th Jan 19, 2:31 PM
    • 447 Posts
    • 1,554 Thanks
    a_silver_lining
    25 from MSE energy switch.

    134.78/4K
    1% challenge #18= 3.3%


    I need 5% More to be on track for debt free this year, that is 200. Fingers crossed my bank switch and interest processes this month!!!
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    900 emergency fund --- Family Loan paid 8169.01/ 10K
    Pay debt by Xmas 2019 #81: 2,169.01/4K
    2019 1% challenge #18= 54.2%
    • charlies tribe
    • By charlies tribe 11th Jan 19, 2:03 PM
    • 870 Posts
    • 6,153 Thanks
    charlies tribe
    #33= 3.25%
    162.58/5000
    LBM in April 17 - 13376/33554 (39.8%) paid.
    Mortgage@1 June 18 = 2682/76350 paid.
    Total debt @ 1st June 18=102311 @1st Jan 19 94515 93846
    SPC #016 2019 1% challenge #33 = 7.19% 359.98/5000
    • cybertortoise
    • By cybertortoise 12th Jan 19, 10:48 PM
    • 140 Posts
    • 1,003 Thanks
    cybertortoise
    #2 checking in with 848 paid off so 21.2%
    This will probably be the biggest payment I'll be able to make all year and it's from making a bit more money when I sold my car which I put straight into a debt.


    Last edited by cybertortoise; 12-01-2019 at 10:55 PM. Reason: Additional info
    Fresh start & LBM #3: 29.08.17 ~ Debt at highest: 23,583.27 ~ As of 26/12/18: 13,389.66 ~DFD aim: 31/12/2021 ~ PAYDOBX 2019 #32 : 848/4000 = 21.2% ~ 2019 1% Challenge #2: 21.2% ~ Frugal Living 2019: ~ Sealed Pot Challenge 12 #101: -- ~ 365 Day Penny Challenge 2019 # : 12/365 days ~
    • NeverendingDMP
    • By NeverendingDMP 13th Jan 19, 12:28 PM
    • 275 Posts
    • 1,086 Thanks
    NeverendingDMP
    Number 17 now at 12%
    35,213 - Jan 2018, 30748 remaining.
    Mortgage 77230- Jan 2018
    74137 remaining.
    Emergency fund 156
    Make 2019- 359.17/2019
    1% challenge. Back to 1%....
    • a_silver_lining
    • By a_silver_lining 13th Jan 19, 1:49 PM
    • 447 Posts
    • 1,554 Thanks
    a_silver_lining
    #81: 139.98/4K
    = 3.5%


    5.20 bank interest paid to debt. 5% more needed to be on tack this month for debt free by xmas. Love chipping away. I've decided that whatever is left in my bank account by payday (if there is any) half will go in savings and half to the debt so hopefully I'll get there quicker...
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    900 emergency fund --- Family Loan paid 8169.01/ 10K
    Pay debt by Xmas 2019 #81: 2,169.01/4K
    2019 1% challenge #18= 54.2%
    • spudsmum
    • By spudsmum 14th Jan 19, 12:01 AM
    • 448 Posts
    • 2,520 Thanks
    spudsmum
    #19 checking in with my first 1%
    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!
    • miss empty piggy
    • By miss empty piggy 14th Jan 19, 10:48 PM
    • 645 Posts
    • 6,632 Thanks
    miss empty piggy
    No 13 reporting another 60 payment so an additional 2% xxx
    DFW Nerd No: 600
    • grassgirl
    • By grassgirl 15th Jan 19, 6:09 PM
    • 354 Posts
    • 1,823 Thanks
    grassgirl
    Hello hello! I am checking in - number 16 and Ive 652 in my savings (going to bulk pay as no interest) which makes

    Over 2%
    [Upgrade in process...]
    #46 1000 emergency fund 905.18/1000 1 debt vs 100 days 905.18/10,000
    #16 1% challenge (2.5%). eBay challenge 0/28
    • a_silver_lining
    • By a_silver_lining 16th Jan 19, 5:41 PM
    • 447 Posts
    • 1,554 Thanks
    a_silver_lining
    Talked myself out of buying something I have been eyeing up for weeks.

    28 sent to debt

    #18 @167.98/4K
    4.2%


    1/2 way to where I need to be by the end of the month...
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    900 emergency fund --- Family Loan paid 8169.01/ 10K
    Pay debt by Xmas 2019 #81: 2,169.01/4K
    2019 1% challenge #18= 54.2%
    • squeeeek
    • By squeeeek 18th Jan 19, 12:48 PM
    • 282 Posts
    • 1,862 Thanks
    squeeeek
    Hi, could I join again please? My 2019 1% is 66
    Family Loan 1 2200.00 0.00 Family Loan 2 750.00 0.00 MBNA 1967.00 856.00 Lloyds Loan 10,000 5324.61 Mortgage 78,000 72571.13
    • spudsmum
    • By spudsmum 19th Jan 19, 4:32 PM
    • 448 Posts
    • 2,520 Thanks
    spudsmum
    #19 now at 2%

    88/4000
    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!
    • Moneybutterfly35
    • By Moneybutterfly35 20th Jan 19, 10:53 AM
    • 81 Posts
    • 390 Thanks
    Moneybutterfly35
    Im at 2% 440 whoooop moneybutterfly35

    ( MFW #31 . 2 challenge #35. 1% challenge #25 440/22000 EF challenge #244 713/2000 )
    • fatpat
    • By fatpat 20th Jan 19, 12:01 PM
    • 44 Posts
    • 212 Thanks
    fatpat
    #9 here and checking in with my first 1%!

    #9 1% 50/5000!
    The 365 day penny challenge #24: 21.52/667.95
    Make 2019 in 2019: 29.99/2019
    2019 1% Challenge #9: 1% - Pay all your debt off by Xmas 2019 # 60: 50
    • FaceHeelTurn
    • By FaceHeelTurn 24th Jan 19, 2:22 PM
    • 61 Posts
    • 104 Thanks
    FaceHeelTurn
    Number 35 checking in...now up to 4%

    Thank you
    Debts: CC1: 1675.83 1427.01 CC2: 3209.11 2930.14 CC3: 704.04 209.05 OWE PARTNER: 376.56
    2019 1% Challenge: 14%
    • a_silver_lining
    • By a_silver_lining 24th Jan 19, 6:38 PM
    • 447 Posts
    • 1,554 Thanks
    a_silver_lining
    A whole 0.1% paid

    6 refund from a hat I bought my partner and wasn't quite right. Paid off of the debt

    173.98/4K
    2019 1% challenge #18= 4.3%
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    900 emergency fund --- Family Loan paid 8169.01/ 10K
    Pay debt by Xmas 2019 #81: 2,169.01/4K
    2019 1% challenge #18= 54.2%
    • AdventureWanted
    • By AdventureWanted 24th Jan 19, 11:03 PM
    • 1,118 Posts
    • 3,928 Thanks
    AdventureWanted
    Hi, could I join again please? My 2019 1% is 66
    Originally posted by squeeeek
    Hi squeeeek,
    Welcome to the 2019 1% challenge. I've assigned you number 36. If you could mention your number when checking in that'd be great. Good luck with your 1%s.
    • a_silver_lining
    • By a_silver_lining 25th Jan 19, 12:34 PM
    • 447 Posts
    • 1,554 Thanks
    a_silver_lining
    Last month I had 182.50 left in my bank account before payday. I have 417.57 left in my account this month. Leaving 200 in there and moving the rest to pay off the debt. Going to keep doing this each month, keeping a little extra in my account so perhaps 220 next month, and then sending the rest to the debt.

    217.57 payment made.

    391.55/4K
    2019 1% challenge #18= 9.7%


    My goal was 8.33% this month as that is how much is needed to psy off by xmas 19. Glad to beat it this month as it will buffer more expensive months!!

    Edit:

    Realised I had decided to pay an additional 45.75pm to the debt due to cancelling a direct debt. So may as well do it now

    437.30/4K
    2019 1% challenge #18= 10.9%
    Last edited by a_silver_lining; 25-01-2019 at 12:55 PM.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    900 emergency fund --- Family Loan paid 8169.01/ 10K
    Pay debt by Xmas 2019 #81: 2,169.01/4K
    2019 1% challenge #18= 54.2%
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

4,012Posts Today

5,380Users online

Martin's Twitter