In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
One actionable strategy for you to take
Debt payoff shout out
Quick Win of the Week
My home payoff progress
New channel video: 5 Debit Cards That Beat Credit Cards for Normal People (2026)
Community Debt Payoff Snapshot
Alright folks, one submission this week—and yes, it was me. I delay reporting by a week on purpose so I’m not building these newsletters last-minute.
That changes next week though. We’ve got your submissions coming in, and I can’t wait to start highlighting them!
Numbers only move if people act—which brings us to this week’s check-in!
Caleb’s Actionable Strategy
Build up a starter emergency fund
This week, I want to emphasize what should be your priority when it comes to debt payoff, and it actually isn’t related to paying off a loan. It’s building a starter $1000 emergency fund.
Action: Start saving towards a $1000 emergency fund
I firmly believe a starter emergency fund is the best way to protect yourself while you’re paying off debt. Yes, I want you throwing extra money at debt—but if you don’t have any buffer, this should be your #1 priority.
I know $1,000 doesn’t sound like much, but it’s enough to cover the annoying stuff that derails progress: a blown tire, a surprise repair, or that dreaded “$89 just for us to show up” service call.
Bonus move: park that starter fund in a high-yield savings account so it’s accessible and earning something while it sits there. All these options are great.
Member Spotlight
Jenna’s Destroying Her Debt
Jenna is actually someone I’ve interviewed on my channel. We did a budget renovation and since then, she’s completely taken control of her finances.
Since she starting last year, she’s paid off $32,658 of debt!
That’s so inspiring to me. This is what she said about her journey so far:
The first step was to be consumer debt free and cut up my credit cards. I started really getting focused on debt because my job is not stable, and if I were to ever get laid off, it's way easier to pay your bills if you have no debt.
Going from $35,000 of Student Loan debt down to $13,000 in a short period of time has been the best feeling, I thought I was never going to get anywhere close to paying down my student loans.
She’s stayed locked in by keeping her budget tight and selling things around her house she doesn’t need. I love hearing practical ways people are paying off debt!
If you want to be featured in the Payoff Challenge Newsletter or related videos on YouTube, Instagram, or TikTok, this is your chance!
Quick Win of the Week
Return Amazon (or Other) Gifts
Coming off Christmas and New Year’s, a lot of us have a few things from December that need to go back. Most big retailers set January 31st as the return deadline for holiday purchases.
If you’re trying to free up some cash, submit those returns this week and get them dropped off. That deadline sneaks up fast, and returning it now beats scrambling a few weeks from now.
Caleb’s Challenge Update
Progress We Made Towards Our Payoff
Goal: Pay off our remaining mortgage ($70k) by our 10-year anniversary on June 17, 2027.
521 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $69,110.28
Balance paid off since start of challenge: $889.72
Source: Paycheck, Savings
*This includes monthly principal payments as well as additional payments.
Current Mortgage Balance
Next steps toward paying off the house:
I have a couple things coming up I’d like to tackle. 1. We have an old laptop I’d like to list and sell. 2. I have an opportunity to consult on a budgeting project. Here’s to new income sources!
New Channel Video:
If you want to pay off debt but love those credit card rewards, try some cashback debit cards!
Refer a friend and receive my quick-start guide for saving money TODAY on your existing expenses.
That’s it for this week! I already can’t wait for next couple week’s editions as we start getting numbers to include. If you have any feedback, respond to this email or drop me a line (do people still say that?) at [email protected].
Till next week!
Caleb
