Saturday, September 12, 2009

How To Earn Money For College

On future posts on the blog, I will be highlighting specific programs that can save you money, earn rewards or cash back on your everyday purchases.  I will outline the basics, but not re-create the wheel and over do it with details.  Time is short.  After a brief introduction, I will provide a link right to the program.   

Upromise

Today, we will examine Upromise, a well-established program that has existed for several years.  It stands for "University Promise."  The premise is simple: link your credit cards and grocery loyalty cards, shop through their "portal," or obtain their branded credit card and you can earn a certain amount of cash back on your purchases.  In case you aren't aware of what a shopping portal is, companies such as Upromise have agreements with retailers to drive traffic (and sales, of course) to partner sites.  It's cheap advertising for them, and it means savings/rewards to you.  More on these later. 

Your accrued savings at Upromise can be linked to a  529 account, but there are other options.  529 plans are tax-advantaged college savings accounts and you can learn more about those at 529.com. As a primer, you can set these up and take advantage of them even if you don't have any dependents to send to school.  I would encourage you to read this site and also visit your state's webpage as each state should have these programs set up.  For a directory of all 50 states and territories' government webpages, click here.


While it may take some time in order to earn enough cash to send the little ones to college, it is one more tool in your savings arsenal of which you can take advantage of easily and relatively painlessly.  To learn more about the program and sign up, click below.  There is a permanent link in the lower right corner of the blog, too.

UPromise College Dream Sweepstakes

Thanks for reading and let me know what's on your mind.