Liz Pullliam Weston, author and personal financial columnist, has teamed up with FNBO Direct (the online savings arm of First National Bank of Omaha) to sponsor a contest called “Pay Yourself First” in which five winners will each receive $5,000. Those who wished to participate sent in a one-minute video about why they save money or about their savings goals. From 150 submissions, a surprisingly small number when the threshold for entry seems rather easy, the judges narrowed the pool down to 20 semi-finalists.

You can view 134 of the 150 submissions by visiting the Pay Yourself First Challenge group on Youtube.

The point of this marketing event is to remind people across the country to ensure they are doing more than just paying their bills. FNBO Direct suggests using Direct Deposit to filter automatic savings directly into an online bank account, emphasizing the primary importance of saving, even before bills like mortgage, rent, and utilities are paid.

As the contest winds down, Liz Pulliam Weston and the president of First National Bank of Omaha, will choose five finalists. These finalists will track their savings progress online for six months. For all his or her hard work, the grand prize winner, selected at the end of the six-month journey, will receive an all-expense paid vacation. All five of the finalists will be winners, however, because FNBO Direct will match their accumulated savings up to $5,000 per person.

FNBO Direct is currently offering a 3.5% APY on their savings account, currently one of the highest interest rates in the United States.

This is a quick Sunday night note to say that I’ve refreshed the list of $25 bonus referrals for new customers this evening. These appear to be going rather quickly and I try to keep the list updated with fresh links.

For the Orange Savings Account referrals, I have on several occasions asked readers to provide their own, as I have used all that have been allotted to me. The waiting list is closed, however, as I currently have more than enough volunteers to last a while. I will post another announcement when the waiting list is open again.

I have posted all new bonus links for new ING Direct savings accounts as of today. If you are a new customer to ING Direct, one of the first internet-only banks that took advantage of low overhead to offer great interest rates on savings accounts, you can receive $25 for opening a new account. They require that your initial deposit is at least $250.

The Consumerism Commentary readers who provided these links will receive $10 when their links are used. I’ve used all of my available referral links for the savings accounts, so I am not earning anything (other than perhaps the admiration of readers I’ve helped earn a few bucks).

For those hoping to have their own referral links posted for the benefit of new customers, the waiting list is now full. Subscribe to the Consumerism Commentary RSS feed to be notified when I’ll be looking to add people to the waiting list.

Get the $25 ING Direct bonus links here.

On Thursday, E*Trade Bank will increase the interest it pays on the Complete Savings Account from 3.01% to 3.15% APY. It’s a small move but it could be a good sign for savers if other banks follow suit.

My company stock purchase plan account is held at E*TRADE and I plan on opening a savings account there the next time I sell my shares later this year.