In this issue of The Payoff Challenge:
My new budget app!
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Weekly Action: Ask for Overtime
My Home Payoff Update
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A new budget app launched this weekend!
I’ve wanted to make a budget app for a while. That’s not easy to do because I’m not a developer. Like, I have almost zero coding skills.
But a programmer (shout out, Scott) reached out and asked if I’d help him finalize the features and bring his app to market. So, I didn’t program this app but I did get to have a direct hand in its development.
The app is called Dollar Designator.
It’s based on envelope budgeting and makes it really simple for you to save and spend all while staying within your means. I really think it’s a great setup!
Here’s my announcement video about it!
And here’s my tutorial video about how to set up and use the budget.
Intro Offer:
The first 100 to sign up will get over 50% off their first full year of premium (only $24.95). But when you sign up, you’ll get a 60-day free trial which doesn’t require a credit or debit card.
There will be multiple tiers of the app, one of which is going to be free. Right now, we’re working on adding additional features. We know it’s not perfect. But it’s simple and easy to use. And we want to make it better with the help of our early users. Let me know if you sign up and have any feedback to provide!
Alright onto the weekly 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 $1680 last week! This is about the average monthly rent in the United States. A whole month worth paid off is a lot of security!
$560 was the average paid off, which is the cost of a decent washer or dryer. Not looking forward to the day we have to replace ours. They are ancient, let me tell you.
$560 is also the equivalent of 152 gallons of chocolate milk. Noice.
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
Ask for Overtime
When paying off debt, I definitely want to see you all find some side hustles to knock out. But sometimes, it’s not the most efficient use of your time.
Action: This week, ask your boss if you can work some overtime.
That is, if your overtime is worth working (I know a lot of people who get $0 for extra hours). I know for me, it’s a better hourly rate than most side hustles. And sometimes, it’s just better to stick with what you know if you’re positive you can earn more at it.
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).
325 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $56,848.58 (▼$920.20 since last week)
Balance paid off since start of challenge: $13,151.42
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
August payment went through this week so we’ve dropped our balance by $920.20!
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
