By saving a small chunk of your tax refund, you could hit a $25,000 jackpot.
A new lottery created by nonprofit Doorways to Dreams Fund aims to encourage people to save rather than spend. For every $50 of your tax refund you tuck away in savings, you receive a chance to win $100 during one of 100 weekly drawings, along with a chance to win a $25,000 grand prize.
To enter the Save Your Refund lottery, you need to request that at least $50 of your refund be put into a basic savings account, an IRA, prepaid card, savings bond or CD using Form 8888 when you file your taxes.
In order to be eligible to win the grand prize, you also need to submit a photo that illustrates your savings goal — like a picture of a tropical island where you hope to take a vacation or a new car. This photo is the key to winning the big money — while the weekly prizes are selected randomly, the grand prize winner is chosen by a panel of judges based on the photo. (read more)