In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Weekly Action: Lower your internet speed
Money News: Big News for Small Businesses!
My Home Payoff Update
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May the Fourth be with you.
Alright let’s get into this week’s debt payoff snapshot.
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 $823 last week! That’s like buying a Lego Star Wars Millennium Falcon. Gotta keep that Star Wars theme going. Also, as much as I love Star Wars and Legos, please don’t buy one of these unless you are consumer debt free.
This week, someone said they were moving and sold some things on Marketplace and found they got kind of a rush from it. Keep it up!
$274 was the average paid off, which is literally half of our grocery budget for the month.
$163 is also the equivalent of 74 gallons of chocolate milk. That’s 30 more gallons than last week!
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
Lower Your Internet Speed
GASP
But seriously, do you need the internet speed for which you’re currently paying?
Action: This week, call your internet provider and check what lower internet speeds they offer.
When we were searching for a new provider, I had one offer me 1 GB fiber and 500 mb speed. Then he threw on that they also had 300 mb if that was something I'd be interested in.
We went with 300. But guess what, we haven’t had any internet speed issues. And we’re doing regular streaming of movies and shows. And I obviously upload videos to YouTube. Everything’s been great.
I think it’s tough nowadays because all the major providers offer 1 GB fiber internet which is stupid fast. The Death Star might need 1 GB fiber, but the vast majority of people don’t need that. They’ll just pay for it because it’s offered to them. Slow yourself down and you probably won’t even notice! And getting 300 instead of 500 mb saved us $10 per month.
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
Mortgage Rates at a 3-Year Low!
Good news on the mortgage front! As of April 23rd, 30-year rates have hit a 3-year low at 6.23%. That’s over a half point below where it was a year ago. I know, not the progress everyone was hoping for but it’s progress.
Your take-away: While a 30-year rate at 6.23% is getting better, your best rate will be on a 15-year fixed rate mortgage. Tough to handle for many, but it’ll get you out of debt in half the time.
Just remember, keep your payment at no more than 25% of your take-home pay, otherwise you may be overextending yourself for a home you thought was a blessing until it wasn’t. 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.
409 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $63,474.02 (▼$223.34 since last week)
Balance paid off since start of challenge: $6525.98
Source: Paycheck, savings, interest, Etsy poster sales, selling scrap metal, bicycle, TV cabinet
*This includes monthly principal payments as well as additional payments.
Current Mortgage Balance
This week, I sold some scrap metal! Just trying to clean up our property a bit more. Combine that with some savings and we paid our mortgage down $223.34 this week.
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
