In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Weekly Action: Set Up Bi-Weekly Payments
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 $518 last week! This is like half of baby step 1, the starter $1000 emergency fund. Nothing to scoff at!
$172 was the average paid off, which is about the cost of a single license for Microsoft Excel. Which is kinda crazy because I feel like I’ve always just had excel on all the computers I’ve owned. I didn’t even know it cost this much.
$172 is also the equivalent of 47 gallons of chocolate milk. That’s definitely enough to fill up my 3-year-old’s kiddie pool, I’ll tell you that much.
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
Setup Bi-Weekly Payments
I love automatic payments because it keeps things on easy mode. I firmly believe it’s far easier to make payments (and especially extra payments) if it’s all automated.
But here’s a trick to help you pay off your debts even just a little faster.
Action: This week, set up bi-weekly payments (half of your normal payment) for your debts.
If you pay your full payment once a month, that’s one thing. But if you pay half of your full payment every other week, that’s 26 payments you’ll make during the year, resulting in one extra full payment every year!
With a mortgage, that saves 1 year and 5 months on a 15-year loan and saves 3 years and 5 months on a 30-year loan! And it works the same way with your shorter-term loans like student or car loans. Easy way to pay it off just a little faster!
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.
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 (less than a year left).
346 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $58,168.78 (▼$200 since last week)
Balance paid off since start of challenge: $11,831.22
Source: Paycheck, savings, interest, Etsy poster sales, selling scrap metal, a bicycle, a TV cabinet, and a laptop
*This includes monthly principal payments as well as additional payments.
Current Mortgage Balance
Just $200 this week from savings!
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
