Free Money For College!!!!

When my eldest girls were young, I remember my husband and I talking about saving for college.  We were very young ourselves, making just enough to make ends meet and we thought 'well, we have time'.  Then I discovered a way to start accumulating college funds without using our monthly nut to do it.  It's called Upromise.  How does this program work?

First, you go to the Upromise website at https://lty.s.upromise.com/member/home  , and create a free account.  On your account (secure server) you register your credit card (or cards) and all of your store discount cards.  Secondly, you designate who you want those funds to go to.  For example:  50% to Child A  and 50% to Child B.

What happens then is this. Certain product manufacturers, restaurants and online sites have an agreement with Upromise where, when you purchase their products or services they will give you a percentage 'payback' on those items.  Now, you may look at the the % and say, well, that's not much.  But, believe me, it adds up!  This percentage is recognized as you use your registered credit and discount cards.  As you do your normal grocery shopping, dining, holiday shopping, you  name it, Upromise will pick up the percentage payback and place it in your account.  Easy!

Here's a small example of a few of my savings:

Bed Bath Beyond....$12.58
Mobil......................$13.92
JC Penney..............$10.80
Kellogs Cereal........$  1.28
Proctor & Gamble..$  8.02
Zappos (shoes).......$28.79
Blue Fin Grill...........2 % savings

*   Walmart, for a limited time, went from a 1% return to a 5% return.

**  You do need to check to see if some purchases need to be done online.  For example, Bed Bath &
      Beyond will give you the % on your purchase whether you purchase in store or online.   The last
      time I checked, Target gave you the % if you shopped their online store only ....so check that.

***Upromise offers their own credit card where you will get % return on everything you purchase.

Another positive feature is you can get grandparents, aunts, uncles, friends, you name them,  to participate in your children's college fund.  They would simply open up their own Upromise account and register, listing your child as the beneficiary.

Now, because you are saving for your child's college education you will want to link these funds to an investment program.  Upromise will explain your options.  I chose to place our funds in a 529 account.  If you don't know about this program, Upromise will give you the information you need to get started.  Don't be intimidated, most of it is easy point and click.  (ex. To start a 529 for your children you would simply open an account using a $25.00 investment per child.)  Then let Upromise send your funds directly to your investment program.  (NOTE:  Grandparents, etc. can also contribute to the 529 directly).  When it comes time to pay for college you can have this money liquidated, tax free and use it for anything college related.  If  a child graduates you can redesignate the funds to benefit another child, grandchild or pay college loans.

* Start early and start accumulating for your child!

*  And, if you are already in college or have graduated, you can still open the account to help pay a
    college loan!!!

THIS IS FREE COLLEGE SAVINGS!!!