In this issue of The Payoff Challenge:
July Payoff Total
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Dollar Designator: The Simple Envelopes Budget
Weekly Action: Take on a Freelance Gig
Member Spotlight: Andrew has paid off $8k!
My Home Payoff Update
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Here’s the July Payoff Total!
In July, we paid off a total of $3,328! Holy cow, we are quickly nearing $50k total paid off since this started.
Alright let’s get into our weekly 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 $1232 last week! This is what a cheaper designer handbag costs. Ok wut. I wish you could see me sitting here trying to wrap my brain around that.
$616 was the average paid off, which is the cost of a decent generator. I’m not talking like one that runs your house, just a few essentials. Imagine having no debt and just buying one of these to make sure your house is ready to go after the next tornado. Okay, I live in the midwest, tornados are a real thing.
$616 is also the equivalent of 167 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!
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Caleb’s Actionable Strategy
Take on a Freelance Gig
I love the idea of a side gig when it comes to paying off debt. But not all side gigs are built the same. Some are way more efficient at earning money than others. So do a freelance gig using a skill you are good at!
Action: This week, offer your skilled services to someone who’s looking for help.
I’m talking about something like building Ikea furniture for someone who’s not handy. Or doing some yard work because you already have the tools. Or filming a wedding (this was mine back in the day). Ok my suggestions tend to be a bit heavy on the things I could do. Point is, find a skill you already have and go offering it to people.
Check Facebook, there’s tons of ISO (in search of) requests on there looking for people who can do things for them.
Member Spotlight
Andrew’s Paid off $8k Already!
Andrew was going through nursing school and just finished his degree. Since then, he gotten a full time job as a Registered Nurse and is now focusing heavily on paying off debt as quickly as he can.
So far Andrew’s biggest challenge has been implementing an effective budget and avoiding lifestyle creep with his new-found income level. Trust me, I get it’s challenging to not just spend that extra cash because I’ve been going through the same thing with a recent raise.
Right now, he’s focusing on paying off his credit card debt which he built up while acquiring his degree. He’s also got his eye on making some extra money to pay off his debt faster. Good news is, many nurses have a lot of overtime opportunities.
Keep it up, Andrew! You’re going to really feel the peace once you pay off this debt and have 100% of your income to go where you want it to go. Minus taxes of course lol.
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).
318 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $56,616.58 (▼$232 since last week)
Balance paid off since start of challenge: $13,383.42
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
This week’s payment was made up of a small payment from Amazon for a book sale, debit card cashback earned from July, and interest earned from our savings account. Down $232!
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
