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Play games to get out of debt

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    Priya Haji and David Chen explain how playing games on the internet can make you debt free

  • Duration 7:06
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-- joining us and David ten hi guys.

You -- -- -- save up dot com it's the first site to reward customers finally for saving their money right.

We know that interest rates are rewarding us -- is -- -- basically 0%.

So tell us what your site does -- works and how we -- -- -- rewarded for for savings.

So I say that dot com is completely free rewards program.

And we rewards you for saving and also for paying down your debt.

-- brought together an amazing sponsors from all of -- different sectors so virgin America had banana republic.

I GameStop and all kinds of amazing prizes.

And once you register your account which save that -- and registered savings account.

And a 401K and Ira or a debt that you're paying down a car -- home loans student loan credit card.

And -- every -- you make payment you get say that credits and you can I win prizes and so the largest -- Callers and he's here with me is actually may I say that user yeah right.

So David why did you decide to start using -- up dot com.

I've always liked that kind of keep tabs -- my personal finances and me and I remember my child and my and we will play the lottery.

And I always those kind of the response.

And time to play the lottery and then I came across a book which is basically.

The same kind of fun and Simon for free but it until -- -- actually rewards you for doing something positive which is.

You know saving more money or -- paying down your credit cards.

And you can win prizes without really spending you know -- -- -- what are some of the ways that people can earn prizes on -- say.

Well the number one way is once they register an account to make progress on either reducing that debt.

Or.

Increasing their savings and -- what they do that every time they make a payment earn credit and more more chances to win prizes.

And bed next thing of course is engaging with educational content that we have on the right so.

There's financial education videos there is webinars and content we can actually learn how to improve your finances.

And we also do things where you can get.

-- rewards for inviting your friends and engaging others and saving and paying down their -- so.

We do lots of things to make it -- and I'm an educational but most importantly.

We want you to actually win David here -- -- thousand bucks yeah and he actually -- got five out of six number match on our.

Monthly jackpot so that was pretty call and we're excited we want someone to win the two million dollars and get a major reward.

Where just -- one dollar in their account may suddenly make -- a millionaire.

-- -- to get at ten dollars front to get out toward so.

We have a whole bunch of brands and sponsors that are actually I'm a put up that.

Advertising which supports all the bonding in the insurance on the prizes so we have a whole and we have a bunch -- partnerships with banks and financial institutions as well.

Because I think right -- -- America you know everybody is trying to improve the situation that -- in.

And we really want to help people do that in a whole -- and new way we use bank level security.

Everything we do is totally audited and where excited to offer a whole new idea to America.

Yet and you already spoke about -- two million dollar jackpot but to entice some more people to go to to say.

-- also offering prizes including gift cards apple products home appliance is vacation ends.

And even -- new car is that right.

Yes absolutely and if you I come check out there's new winners on say about every day -- and -- right no one's -- the two million dollar -- yet but there are people winning every day on all those other prizes so.

There's a Toyota Prius on there which shall save some money on your gas bills -- the future.

There's 50000 dollars scholarships so you're saving money for your kids to go to college -- could be a big how.

There's also 50000 dollars to pay off your student loans so there's some really great prizes and I think.

Lots of -- to keep it interesting and engaging.

David did you have any debt when you signed up.

That you wanted to get a -- on maybe some loans or something.

Student loans.

Yeah I do have some student loans and I also had.

Some credit card balances that I was carrying at a time.

OK and head and -- -- paying off.

I think.

Save up definitely -- does that -- gentle kind of daily reminder -- to.

You know saving money and pay down any -- that I had and because I was kind of science save up every day and put in my plays I would see.

You know -- contracts that balances that I have and it gives me -- feedback when I pay it down rampant credit cards and point of points that I can play with.

And how long has this site been up and running about six to eight months about that right.

That's right and what we launched it earlier in in the end of last year and went public and live with that in January and -- and how many.

We have.

Who we don't release exact numbers but we have tens of thousands of people from all across the United States I -- that you would recommend for people out there start paying down magnet.

I think the most important thing is out to consider small changes.

So where people can make cuts to things that are regular expenses -- you are have a big package on your cable bill and maybe you don't need all of those things.

Those kind to have it's definitely can make a shift.

And also wherever you can automate your word change your deposits so take things straight out your payroll and put -- to your credit card payment.

Or take it straight -- your payroll and put it into your savings so that you don't even think about it and it gets done for you every month that those are the kinds of suggestions that we think are really good plus refinancing debt.

-- right now for those people that can qualify for it can also be a good time because of interest rates being pretty low right now.

-- common question that people ask you.

When they're trying set either save money or get rid of -- -- little bit -- both.

I think the most common question right now is how to prioritize if I have both debt and not very much savings.

What should -- focus on first right and I think that in most important thing is start with your highest interest rate debt.

Focus -- and getting that debt down.

And then next focus on a short term emergency type of savings -- And that being a really important thing and then also make sure that you're doing the basics so that you don't get in a crisis -- and that is things like making sure that you have a small amount savings and you have you've put yourself in the position to you don't have to take -- -- -- again.

AIG founder of save up dot com David ten user and winner from save -- dot com we thank you so much for joining us had a beautiful day there in San Francisco.

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