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 $1200 last week! This is like a nice set of new tires installed and balanced. Boy, when the need for tires arises, you really feel it. That’s why I (as a major budget nerd) put away about $25 a month into a tire sinking fund just for this.
$600 was the average paid off, which is what I paid for our taxes to be prepared and filed this year. Yeah, it’s a lot but wow, did I enjoy not doing my taxes this year. It’s getting confusing.
$600 is also the equivalent of 163 gallons of chocolate milk. That’s almost 1500 grams of protein.
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
Front Load Your Sinking Funds
Obviously I want to see you put all your extra money towards debt payoff. But it still makes sense to prepare for large future expenses now so you don’t get caught by surprise.
Action: This week, front load sinking funds for upcoming irregular bills with available cash.
One example I have is our vehicle insurance gets paid once a year. It’s a huge payment and we do prepare for it. But if you aren’t a budgeter, you might forget it’s coming.
Think through those large yearly expenses and if you aren’t already saving on a monthly basis for them, take some of your extra cash and put it in a sinking fund so you already have it saved up.
Here are some ideas of the annual sinking funds we prepare for:
Propane
Auto Insurance
Security System
Budget Subscription
Mobile Service
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).
339 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $57,968.78 (▼$200 since last week)
Balance paid off since start of challenge: $12,031.22
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! We are now sub $58k left!
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
