In this issue of The Payoff Challenge:
Community Debt Payoff Snapshot
Submit your debt payoff totals for this week!
Dollar Designator: A simple envelope system budget app
Weekly Action: Cancel a Subscription for Convenience
Member Spotlight: Nick’s Done Messing Around with Debt
My Home Payoff Update
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This issue is brought to you by:
Community Debt Payoff Snapshot
Congrats to everyone who paid off debt this week! Let’s put this into a fun comparison.
We paid off a total of $5,414 last week! This is how much a new Honda Rebel 300 motorcycle costs. Man, it almost makes me wish I was into motorcycles. Seems like a really cheap way to get around if you live in a temperate climate.
$1804 was the average paid off, which is how much Honda’s cheapest dirt bike costs. I’m sticking with the Honda theme this week I guess. Regardless, that would be fun to ride.
$1804 is also the equivalent of 489 gallons of chocolate milk. Okay, I love chocolate milk but that’s ridiculous.
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!
Sponsorship
FINALLY, a SIMPLE Budget App that Will Help You Master Your Money
Based on the envelope system, Dollar Designator makes it incredibly easy to spend and save within your means.
This is a budget app I had a direct hand in bringing to you all, so I’m really excited about it. You can try it completely risk free (no credit card required). And we have a crazy deal for the premium tier of the app.
Intro Offer:
The first 100 to sign up will get over 50% off their first full year of premium (only $24.95). Again, when you sign up, you’ll get a 60-day free trial which doesn’t require a credit or debit card.
Caleb’s Actionable Strategy
Cancel the Convenience Subscription
Okay this is a tough one if you are in a habit of using a service that may make your life easier but..
Action: This week, cancel one subscription you have for the sake of convenience, like Amazon Prime, Dash Pass, or Instacart.
The main problem is not the subscription cost in my opinion. It’s more the fact that it actually increases your likelihood of purchasing things through that subscription.
So Amazon Prime for instance. Occasionally we sign up for a month and every time I cancel it, it’s so hard to do because I loooooove the convenience. But I KNOW I spend more on Amazon because we have it. So cutting it out really helps save some money. Literally cancelled it this week.
Same with ordering food delivery or even groceries. Listen, I’m not telling you that you can’t ever use these services. I just want you to be aware what they’re costing you. Consider canceling one and putting the money you save toward your debt!
Member Spotlight
Nick’s Done Messing Around with Debt
Nick just told me he’s made his first budget in a long time and kicking his debt snowball into high gear so he can pay off his 5 credit cards and car loan as quickly as possible!
Just getting started is the hardest part. Maintaining motivation is maybe the second hardest, but I love that he’s using the debt snowball to help him keep up the momentum.
Right now, his biggest challenge being self-employed is figuring out how to budget for his variable income while he pays off debt. But he’s determined to make it work by keeping his overhead low and growing the business. Keep it up, Nick!
If you find yourself trying to budget with variable income, this video might help!
Any amount of debt payoff is worth celebrating here in the member spotlight.
New Video!
This one compares our newly launched budget app Dollar Designator with Dollarwise. Both have their strengths and weaknesses. If you’re looking for a budget app, check it out!
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).
304 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $50,714.12 (▼$4,585.61 since last week)
Balance paid off since start of challenge: $19,285.88
Source: Paycheck, a bonus, savings, interest, an Escrow surplus payment, 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 was another crazzzzy week. We’ve officially paid off over $100k of our mortgage since we bought the house! We started at $154,200 in 2020 and are now at just over $50k left. Also, I got a bonus this week from work, so we put the whole thing on the house after taxes and giving. We’re so close to sub $50k!
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
