Playing SaveUp is Addicting

A few months ago, I was asked to test a new website that encourages saving called SaveUp. Similar to a rewards program for spending money, SaveUp rewards their members for saving money. I created a profile, added a bank and credit card account, then earned points that I used to play for prizes. Let me just say, I’m hooked! The prizes range from extra points for more plays, gift cards, or cash prizes as small as $5 to larger monetary prizes such as $50,000 to pay off student loans or enter into a $2,000,000 grand prize.

Now I don’t consider myself a gambler or very lucky, but playing SaveUp is quite addicting! What’s even more motivating is that in order to play for these monetary prizes, I have to earn points that are based on how financially savvy I am. This means I have to add funds to my savings account, pay down debt, take quizzes on financial lessons, or open accounts that promote saving in some way.

How it Works

First you sign up for a SaveUp account. If you’d like a direct invitation, email me since I earn points inviting “friends” to join. 😉 Next, you add your accounts using your online  account information. Similar to programs like Mint.com, you need to have online access to the accounts that you are adding. Your accounts can include bank accounts, savings accounts, or debt (ie. credit cards, etc.) you are working on paying off. For each account initially added, you earn 200 points that can be used to play games for prizes. Then, you update your profile. For each question you answer, you earn another 30 points.

Each day, you are allowed 3 plays that cost 10 points each to play. You may buy an additional 5 plays per day for 100 points each. Obviously, if you don’t have enough points, you can’t play or purchase additional ones. The key is to build points by moving in the right financial direction – pay down that debt, add funds to your savings or bank accounts, etc.

The motivating factor is that the chances you have of winning a prize are in your favor. SaveUp members win cash prizes on a daily basis or at least points that can be used to play another game. I’d say that I earn points 3/4 times I play. I haven’t won a cash prize yet, but I know my chances are a whole lot better than gambling in Vegas or playing the Lotto – and I’m saving money to boot.

I like to save money to begin with, but knowing that there’s a reward for doing so is even that much more inspiring.

Would you like to try SaveUp?