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: Increase your minimum payment
New Video! Payoff Challenge Update
My Home Payoff Update
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Community Debt Payoff Snapshot
Congrats to everyone who paid off debt this week! Okay, it was just me this week so submit your number today for next week. Let’s put this into a fun comparison.
We paid off a total of $351 last week! This is enough to pick up a 55” TV nowadays. Which is kinda crazy given how expensive TVs used to be.
$351 is also the equivalent of 90 gallons of chocolate milk. Yooooo.
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
Here’s a Guilt-Free Budget App!
Based on the envelope system, Dollar Designator makes it incredibly easy to spend and save within your means.
Just make envelopes and split up your income and expenses across them. It’s that easy!
Check out my how-to video right here:
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).
Intro Offer:
The first 100 to sign up will get it for only $24.95 for the first year. 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
Increase Your Minimum Payment
I’m convinced that half the reason people aren’t in good positions financially is because they don’t intentionally automate parts of their money. So this is one way to do it:
Action: This week, increase your minimum payment for your smallest debt!
If you increase it, you don’t have to think about paying it off faster. My only caveat is do this only for your smallest debt. Knock it out then bump your next smallest debt payment and throw anything extra you have at it!
For us, we haven’t increased our monthly payment because we’re already making weekly extra payments to the house. But if you tend to be someone who loses motivation, the best thing you can do is force yourself into faster payoff by increasing your minimum payment!
Member Spotlight
I Want To Celebrate Your Wins!
But I need your help to do it. Get featured here for your wins!
Any amount of debt payoff is worth celebrating here in the member spotlight.
New Video!
In this video I give a full update on the Payoff Challenge through August! As well as why we put so much extra towards the mortgage instead of investing it.
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).
276 days left
Mortgage Balance on January 1st, 2026: $70,000
Current Mortgage Balance: $48,648.86 (▼$351.14 since last week)
Balance paid off since start of challenge: $21,351.14
Source: Paycheck, a bonus, savings, debit cashback, 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
We had some extra in a paycheck this week that wasn’t budgeted for so we put it at the house!
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
