MANHATTAN BEACH, Calif. (8/5/15)--Contestants in GOBankingRates’ second annual #MoneyMinute Video Challenge, in which financial gurus compete to give the best financial advice in under 60 seconds, should be a little scared, because credit unions are participating in full force this year.
The contest calls for participants, ranging from finance bloggers to financial planners, to submit one-minute videos that offer a single tip related to one of three subjects: Saving money and frugal living; credit and financing; and retirement and investing.
Mission FCU, San Diego, for example, entered a video featuring the “50-30-20 Rule” that teaches viewers how much to allocate to fixed expenses such as bills (50%), wants such as entertainment (30%), and savings (20%).
Camino FCU, Montebello, Calif., which submitted a number of videos, explained the myriad benefits of online bill pay in one of its entries.
Finalists in each category will be picked through a public vote, which kicked off Monday and runs through Aug. 31, and the five highest-rated videos will go before a panel of judges who will determine a winner in each category.
The videos will be judged on the criteria of most creative video, most creative tip, and most impactful advice.
The grand prize winner will receive a $1,000 savings account, and each category winner will receive a $200 gift card.