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FNBO Direct, a relatively new Internet bank, just launched a national contest, the Pay Yourself First Challenge. It's a fun, Internet-based way for families to save for, say, the cost of college as tuition rates go up every year. In fact, the College Board estimates by the time today’s infants graduate high school, it will cost more than $21,000 a year to attend a public college or university. (Trends in College Pricing, 2006).

The challenge works like this: People from across the country are invited to post their savings stories at www.PYFChallenge.com. Some of your readers might be struggling to save for that tuition, or others might be able to offer their success stories. Still others might want to donate some of the money they save to help those struggling in the aftermath of recent environmental disasters .Whatever the case, everyone who submits a video has a chance to win $5,000 and an all-expense paid spa vacation.

 

Submitted: Jun 10, 2008    Views: 279    Comments: 5    Likes: 2   


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Comments Received:

Melanie
(Unregistered)

How the savings match work? For every dollar I put into my savings account they will match it? What is I take some of the money out? Please explain further.

Posted: Jun 10, 2008

BLaz
(Unregistered)

I'll put up a video just to get my gift card. Easy money.

Posted: Jun 10, 2008

Their savings rate isn't bad - 3.50%. They used to have the highest rate if I remember but have pulled back since last year.

Posted: Jun 10, 2008

I Am Donald Trump
(Unregistered)

Good odds for whoever enters. I don't see them getting a lot of entries.

Posted: Jun 11, 2008

Christian Finance Blog
(Unregistered)

Hey, check out my submission for the Pay Yourself First video contest:

http://youtube.com/watch?v=wn6YhPPK0v4

Watch and rate it!

Posted: Jul 15, 2008



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