American consumers have $2.42 trillion in debt. Mint.com would like to change that. Debt is a dirty word but what if you could approach debt reduction the same way you would approach losing weight, quitting a nasty habit or running a marathon? You know you want to do it, you just need some motivation, right?
That’s where the Drop Your Debt Challenge comes. Participants can share their savings techniques and work together as a team to pay down their debts and save money. Not only will you become more financially fit, you’ll be rewarded for your perseverance.
We’re rolling out the Challenge in cities across America. After six months, the city team that decreases debt and increases its savings the most will win a cash prize.
We give you what you need to get started: our award-winning money management tool, the expert advice found on our blog, and a way to connect with the thriving Mint communities on Facebook and Twitter to learn real world tips, find local deals, get support and track your city’s progress.
How to Enter:
If you’re not already using Mint.com, you’ll need to join. It’s free and takes less than five minutes to create an account. Then participants can officially enter the Drop Your Debt Challenge by joining a city team by registering on the official registration form and “Liking” Mint’s Facebook page.
The 10 city teams with the most people registered for the Drop Your Debt Challenge by midnight, Nov. 1, are automatically entered into the contest. Their progress will be tracked, head-to-head, for the duration of the contest.
Only Mint.com users 18 or older can enter the Drop Your Debt Challenge. Participants must register via the official entry form to be eligible for prizes. The contest ends April 4.
There are three ways to win the Drop Your Debt Challenge:
The first 200 people signed up for the winning team each win $100.
Everyone that registers for the challenge is automatically entered to win one of four $1,200 sweepstakes prizes, drawn throughout the contest.
The person who gets the most people to sign up for the challenge wins $5,000.
Complete rules are available at: http://mint.promo.eprize.com/dropyourdebt.