Along with all of the usual baby expenses, we also started a college savings fund for Georgia. We have a 529 plan set up and contribute to it each month.
While poking around the internet for college savings tips, I found Upromise. You link your Upromise account to your grocery and drugstore customer cards, and when you buy certain products, your Upromise account is credited. For example, we "earned" .50 for buying toilet paper at CVS.
You can also link Upromise to your credit card to earn cash back to your Upromise account when you eat at certain restaurants. I linked both mine and David's American Express cards (which we use for all expenses) and was pleasantly surprised to see a credit of $3.07 from a business lunch David paid for. I haven't checked the list of participating restaurants, so I'm not sure if we'll regularly earn much or not...but every penny helps, right? We also get around .50-.75 every time we put gas in the car since we normally fill up at the ExxonMobil near our house.
In the past month we've earned over $12. We can transfer this directly to our 529 account at any time. Their website makes it look like it'll be pretty easy.
I know it doesn't sound like much, but $10 per month is $120 per year. Over 18 years that totals to $2,160. Free money for five minutes I spent signing up. Factoring in compound interest and Georgia just might be able to buy a textbook in 2029.
This post is in no way sponsored - just blogging about something that's helping us save a tiny bit more toward a big expense!
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7 comments:
Thanks for the reminder! I saw UPromise before E was born, but forgot to sign him up! From what I've heard, you can add other people's cards, too, so grandparents can add to the baby's college fund as well.
Stumbled on your blog today, LOVE IT! We, too, just signed our son up for a 529 account, and I had no idea about UPromise! Thanks so much for sharing!
I've always wondered what the deal was with UPromise but never looked into it. I will definitely put this on my to-do list! Thanks for posting about it.
What a great tip! I've seen UPromise on some grocery products, but didn't know much about it. Thanks for sharing.
I love Upromise! I signed up awhile ago, and already quite a bit socked away (most from a special 10% back from Piperlime - ha!). One problem: they keep asking me "What is the name and birthday of the person who this account is for"? I just keep ignoring the question since I don't have kids yet! I did ebates for a long time, but the percentages are generally better on Upromise! :)
This is such helpful information!! I am a May 2011 bump lurker (I wish that didn't sound so creepy!) and find this post- and your blog in general- so wonderfully helpful!! Thanks!!
You know, saving for a college is never an easy deal, that is why every single tip is always helpful. But I am sure that it is all about seeing a bigger picture. I have graduated university a few years ago and looking back I know what I wish I could have done in a different way. First of all I would have taken a few years break in order to save up more, understand what I want from this life and find out how difficult this life is with its credit cards, mortgages and sometimes even loans from PaydayLoans@ online . Second of all, I would have treat personal finance better
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