• November 10, 2010

Mint.com has chosen 10 cities nationwide to compete in the "Drop Your Debt Challenge" where participants join together to tackle financial management in the style of "The Biggest Loser."

For the past month, participants signed up to represent their cities. The 10 cities with the most participants are:  Atlanta, Boston, Chicago, Los Angeles, Minneapolis, New York, Philadelphia, San Francisco, Seattle and Washington. Mint.com is an online personal finance service from Intuit Inc., providing over 4 million users a free way to manage their money.

From now until April 4, Mint.com will track each city's progress. Using Mint.com, debt-cutters can share savings techniques, and support each other to drop debt and save more. The city team that decreases its debt/increases its savings the most wins. The first 200 people who signed up for the winning city each get a $100 prize.

Anyone outside of the 10 selected cities can still register for "Drop Your Debt" to qualify for a chance to win one of four $1,200 sweepstakes prizes and to vie for the $5,000 prize awarded to the participant who refers the most people.

City challenge participants will receive updates through Facebook on their city's progress and get money-saving tips from others on their team. In addition, they can use Mint.com and its mobile applications for Android and iPhone to track their individual progress and gain insight into their own spending habits, further helping them find ways to save money and pay off debt.--Tanya Irwin