Help Pay Your College Costs When You Spend Money
This tip will not solve the college tuition problem but it will make you feel better when you shop, dine out, or even travel. Join upromise.com which has arrangements with many retailers, restaurants, and online travel sites to give you a small to moderate amount back. This money is then available for you to put into a 529 plan which is tax-free if the money is used for college education.
I find that the best savings are on travel and restaurants. The biggest problem with travel is remembering to log on to upromise.com before going to the travel site. This is how you qualify for savings. Because of the numbers involved in vacations your rebates can add up.
Many local restaurants participate and as long as you use a card registered with upromise.com you can get 4-8% rebates and never have to discuss it at the restaurant. It's automatic.
In seven or eight years we have saved six or seven hundred dollars without using the site consistently, so you can do much better. At any rate, it's not going to pay for college but it's money that would have gone up in smoke otherwise.
These rebates are in addition to frequent flyer miles or cash rebates that your credit card offers so it is a nice deal.
The 529 plans are terrific and can be used for grandchildren or other relatives beyond your children. In upromise.com you can even change whose education will be paid for as circumstances change.
One of the best features is you can get grandparents or other interested parties to sign up and contribute to your account. They just have to register their credit cards to your account or make their own account.
This is a no brainer! I must also state that I am not reimbursed by this company. I just love the concept.