In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Weekly Action: Calculate Your Debt-Free Date
Money News: America’s Debt Surpasses $39 Trillion
My Home Payoff Update
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Community Debt Payoff Snapshot
Congrats to the everyone who paid off some debt this week! We crossed $30k in the challenge this week! That’s wild. Let’s put this into a fun comparison.
We paid off a total of $3319 last week! That’s the cost of a carbon-fiber e-bike. I tend to be a “let’s go on a traditional bike ride” kind of guy but I’ve used an e-bike before and I’m not gonna lie, they are pretty slick.
$829 was the average paid off, which is like 4-5 months of car insurance.
$829 is also the equivalent of 225 gallons of 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
Calculate Your Debt-Free Date
You need motivation? This will give you motivation.
Action: This week, use a debt-payoff calculator to figure out when you should be debt free. Then test different debt-payoff amounts.
First, use this calculator
Put in your debt balances and interest rates
Click “Get Your Debt-Free Date”
Now change the amount extra you can pay off per month and watch how it affects your debt-free date
Using this calculator to start might be a bit agonizing to start, but knowing the numbers is the first step. People don’t realize that when minimums are the only things getting paid, debt freedom takes much longer. But it’s not until you get the numbers in front of you that you realize just how much longer it’ll take.
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
America’s Debt Surpasses $39 Trillion
I think it’s safe to say America is not participating in the Payoff Challenge. This article details how we’re now at $39 Trillion, only 21 weeks after we hit $38 Trillion. That is an absolutely astounding number.
Your take-away: You can’t control national debt, but you can control your own. Less debt means more control, especially amidst economic uncertainty.
Who knows what this means for our future in America. What I can say is, this is one of the reasons why I invest using Roth accounts so they aren’t taxed in the future (they’re a great option, but this is not financial advice). And why I don’t plan on there being any social security checks by the time I retire. If there are, hey, that’s icing on the cake. 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.
430 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $64,037.36 (▼$1045.79 since last week)
Balance paid off since start of challenge: $5962.64
Source: Paycheck, savings, interest, Etsy poster sales, scrap metal
*This includes monthly principal payments as well as additional payments.
Current Mortgage Balance
This week we had our normal monthly mortgage payment go through for April. Plus, we got $143 for interest on our savings account so I put that toward the challenge.
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
