Back in June, online bank FNBO Direct launched a video contest called the Pay Yourself First Challenge where users are asked to submit a short YouTube clip about what you are saving for. The first 500 entrants get a $10 Amazon.com gift card, regardless of quality. On top of that, the top 20 submissions get a $500 cash prize, and the top 5 get up to $25,000 in matched savings. Apparently, they overestimated the tech-savviness of their customers, because as of today only fifteen video submissions are up on their group. That means everyone so far is winning $500 by default! Deadline is July 31st.
So, if you have a webcam, why not mess around and make a quick video and get $10 from Amazon. Use some creativity and get a solid chance at $500. My friend borrowed a Mac with iMovie and we whipped up the clip below. Given that we had never used iMovie before tonight, I’m actually quite happy with how it turned out. Remember, you can’t use copyrighted material. Of course, if I really wanted to win the smart thing to do would be to not blog about it here, but I’m not that bright.
FNBO Direct is actually paying 3.50% APY with no minimum balance requirements or fees, which sadly enough is pretty good these days. I do have some money there, and here is my FNBO Direct review.