What if I gave you $500?

It’s official, the $500 giveaway contest has started. You can enter the contest by subscribing to our blog.

I decided to create this contest to promote this blog and increase awareness around the web. The $500 will be distributed to the winner via paypal or American Express debit card. (Whichever the winner prefers).

Here are the contest rules:

1. Only one email address may be entered per person. Anyone that violates this rule will not be eligible for the prize.

2. You can receive multiple entries to the contest by referring others to our blog. After you confirm you email address you will be given a referral link to send to friends. You will receive one additional entry for each person you refer.

3. Non US residents must have a paypal account to receive the $500. US residents can choose between receiving the cash via paypal or American Express debit card mailed to their address.

4. When the winner is announced the winner will be contacted and will have 3 days to respond and make a comment on the blog post that announces the winner to say what they will use the money for. Once they have made that comment the payment will be made.

5. You will only receive credit for referring others if you use your referral link. Our system will automatically track who you refer. No exceptions will be made.

6. There must be at least 1000 individual entrants to the contest for there to be a drawing on December 1st. If there are not 1000 entrants I will extend the contest.

7. I reserve the right to add additional rules as the contest goes.

Enter to win and subscribe here:

We will not share your email address or spam you. You will be signing up to get our weekly newsletter that highlights our moneyedup blog posts.

The drawing will be conducted on December 1st, 2010. We will announce the winner at that time and the winner will be required to make a comment on the blog post that announces the winner to receive the $500. The winner must disclose how they are going to use the money. That is part of the fun! Get your entries and referrals in before then to have a shot at winning $500! There is no catch.

I will take all of the entries and dump them into a spreadsheet, giving multiple entries to those that referred others according to the number they referred. I will enter the number of entries into randomizer.org and then match the winning number up to the number in the spreadsheet. I reserve the right to cancel the contest or refuse an entry or a winner for any reason that I choose, however I do not expect to have to do that. That statement is just to cover my butt in case some stupid issue comes up. It won’t.

Why am I doing this?

I’m not going to hide the fact that I’m giving away $500 to help promote this blog. I hope that new readers will find this blog and get great value from our content. That is the primary reason why I’m doing the contest.

But, I also think it will be a great personal finance exercise. I hope it will make people think about the way they would react to having an extra $500.