In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Weekly Action: Use the Library for All Your Entertainment
Debt Payoff Shout Out
Money News: American’s Credit Card Debt is Up
My Home Payoff Update
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Community Debt Payoff Snapshot
Congrats to the everyone who paid off some debt this week! Let’s put this into a fun comparison.
We paid off a total of $1335 last week! That’s like two of Apple’s new MacBook Neos. Actually not bad for two full MacBooks.
$333 was the average paid off, which is like a full month of groceries for a single person. We spend about $500-$600 so that tracks.
$333 is also the equivalent of 90 gallons of chocolate milk. Let’s be honest, I could blow a whole month of a single person’s grocery budget on chocolate milk.
Numbers only move if people act—which brings us to this week’s check-in!
Weekly Check In!
How Much Did You Pay Off This Week?
⏱ Takes under 60 seconds. Any amount. Any debt.
This isn’t about how big the number is—it’s about progress. If you haven’t made a payment yet, consider this your nudge to go make one right now. Missed a week? Just submit the total since your last entry.
Submissions will be included in future week’s Snapshots!
Caleb’s Actionable Strategy
Use the Library for Everything
If you are trying to pay off debt, the library can really come in clutch for entertainment.
Action: This week, use the library for your entertainment so you can focus more of your available money on debt payoff.
Okay, this is kinda mind-blowing. The library has WAY more than just books available to borrow. Obviously they have physical books but they also have audiobooks (got a CD player?). Many libraries are also a part of Libby, the digital library platform where you can rent digital download copies of audiobooks and ebooks on your phone. I use this allllll the time.
Beyond that, the library has some other crazy things available. Our local library has a hot spot you can borrow for 14 days. So if you are paying extra for a phone plan that gives you a hot spot just in case you need it on vacation, hit up the library for that instead and save the money.
Our library also had DIY tool kits, movies (cut the subscriptions?), games, puzzles, tablets for kids, even museum passes. What? That would have saved me $50 the other day if I knew about it.
Point is, if you are paying off debt, you can find a ton of entertainment options for free.
New video about 2 things you can do to increase your next paycheck by $300+ with no overtime or side gigs. Check it out if you’re looking for ways to bump your debt payoff!
Member Spotlight
I Want To Celebrate Your Wins!
But I can’t do that if you don’t tell me about it. So fill out this short form about the debt you’ve paid off and your current wins!
Any amount of debt payoff is worth celebrating here in the member spotlight.
Personal Financial News
Average Credit Card Debt is Up
Nerd Wallet’s Annual Report has a Dismal Statistic
This isn’t what I wanted to see but in Nerd Wallet’s 2025 annual credit card debt study, average American household with any credit card debt have increased that debt more than 4% since 2024. We’re up to $11,400 of revolving credit card debt. And that’s revolving, which means it’s the balance that isn’t paid off at the end of each month.
This isn’t good but that’s the point of the Payoff Challenge. Keep putting something towards your credit card debt (or any debt) and see the change as you increase your freedom! Read more here.
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.
451 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $65,445.36 (▼$200 since last week)
Balance paid off since start of challenge: $4554.64
Source: Paycheck, Savings, Interest, Etsy Sales
*This includes monthly principal payments as well as additional payments.
Current Mortgage Balance
Just from savings this week. Progress is progress!
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 at [email protected].
Till next week!
Caleb
