There's a new twist on financial management and Payoff.com hopes to help consumers fund their dreams.
The free interactive website designed to make reducing debt fun, helps people take control of their financial lives by taking a social gaming approach to managing finances.
With categories such as decrease debt, save for the future, create an enterprise, give to others, and build a meaningful legacy, individuals sign up and set a personal goal online. Incentives such as earning badges and cash "sur-prizes" are provided to help users meet their goals while learning along the way with easy-to-understand educational videos and infographics.
To kickoff the launch, Payoff unveiled the "Freedom to Dream Contest." To participate, candidates must register as Payoff users, "like" Payoff on Facebook and then post a story on Payoff's Facebook contest page about what dream they would pursue if they were debt-free.
The contest runs through Feb. 5, 2011, and the person with the most passionate and compelling story will win $5,000 toward paying off his or her debt.