Hey, have you noticed? The current contest cycle is winding down, with just two to go. If you're joining us late, we've got a great race going on for the $500 grand prize. A quick check of the standings shows a logjam at the top, with jack24k, shawnr33, and BroadwayDan within five points of each other. Plenty of others are still in the running, including altaboy, FixitWoman, GaryHoward, maccdw, and msurel.

The challenge before you this week is to help out your fellow Fools where it really counts: in the pocketbook. All you need to do is share your best money-saving idea with us, and if your entry is judged the best, you'll be able to save on clothing costs with your new Fool sweatshirt and ballcap. (Won't your boss be proud!)

If you haven't yet entered one of our contests, please feel free to join in! The top 10 finishers each week receive Fool Contest Points, good toward the $500 grand prize, as well as other goodies. (It's all explained here.)

Here's the summary:

  1. Tell us, in your own words, your best money-saving idea. Entries will be judged on several factors, including universality (e.g., tips for dog owners preferred over tips for banshee trappers) and how easy the idea is to implement.
  2. Post your entry on our Fool Contests board by this Thursday, March 7, at noon EST. If you're not a member of the Fool Community, you really should be so you can read all the great money-saving tips! But if you're not, you may email your entry to contest@fool.com by the specified deadline. If you email your entry, you must include your Fool username!
  3. This week's winner will receive a genuine, never-before-worn Motley Fool sweatshirt and ballcap.
  4. The official contest rules, as provided by our crack legal team (headquartered in a small one-room shack on the banks of Raccoon Bayou in Cut Off, Louisiana), are here.

Good luck with your entry, and we'll see you on the Fool Contests board!