I know it sounds too good to be true, but this is the real deal and I would encourage you all to take a look. The "Pay Yourself First Challenge" is a savings contest sponsored by FNBO Direct (yes, that's a bank) that gives you the opportunity to earn free cash, learn to be a habitual saver AND offers a great, HIGH interest rate on your savings. This contest was recently written up in the Wall Street Journal and is gaining in popularity (they are relying on folks like yours truly and other Bloggers to spread the word). Here's the rundown per the contest website:

Create a one-minute video about what you're saving for (visit PYF's YouTube Channel to see what your competition is doing). Maybe you're a savings superstar — or a little savings challenged. Compel us with your original and creative video. You may be selected to join us on a six-month savings journey as a challenger in the FNBO Direct Pay Yourself First Challenge!

What's up for grabs:

$10 Gift Card for each of the first 500 YouTube Submissions*
$500 Cash Prizes for each of the Top 20 YouTube Submissions*
$7,500 Luxury Spa Vacation Grand Prize*
$25,000 in Matched Savings for the Top 5 Contestants*
Upload your video by July 31. Start shooting today!

What is PYF?

Pay Yourself First (PYF) before you pay your mortgage, credit cards or any other monthly bills. It starts with a direct deposit into your Online Savings Account, transferring only what you need for monthly bills into your checking or BillPay account. This small change maximizes your earned interest and grows your savings faster.

*See Official Rules for complete details.

P2P-Loans.com is sketching out a possible submission and I will post a link to my video assuming I ever get my production act together. Good luck and spread the word on this great program!

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