Thank you Upromise for sponsoring this post! While this was a sponsored opportunity from Upromise, all content and opinions expressed here are my own.
One of my goals for 2016 is start saving for Quinn’s future. Mal and I have talked about it quite a bit in the past 20 months or so, but we haven’t done much about it. So when Upromise contacted me about partnering, I was immediately on board and knew it was just what we needed to jump start our savings goal.
I’m actually quite familiar with Upromise. I’m already a member and have had an account for 12 years now. I opened one back in 2004 as a way to help me pay off my student loans from college. I still remember registering all of my reward cards (i.e. CVS, Stop & Shop) and credit cards and logging into my account frequently to see how much I earned. I even sent an invitation to my mom to register her cards to help me earn too. Every little bit helped! (Mental note: Register Mal’s cards, so he can help save for Quinn’s future too.)
Ok, let me back up a little if you’re new to Upromise. Basically, money that you need to spend today can help pay for college with cash back from Upromise by Sallie Mae. Whether you’re saving for a child’s college education, paying for it now, or repaying student loans, Upromise enables you to earn cash back for college through everyday purchases. (It reminds me a lot of how Ebates works, but the money you earn goes straight to college savings.)
How it works: Join for free at Upromise. When shopping at a Upromise partner, simply go to Upromise.com and search for that store. Members earn a percentage in cash back for college on the purchases they make at over 850 retailers.
You can also earn by dining out, booking travel, and shopping with the Upromise Mastercard. And savings can double to 10 percent when paying for online shopping or dining at participating restaurants with the Upromise credit card, which means you can grow your college savings more quickly. (I applied for one!) How cool is that? You can go out to dinner (yay, date night!) and earn money for your children’s college education. Upromise has partnerships with more than 10,000 local and national restaurants (as well as top travel and hotel sites), so it’s definitely a great way to save for the future.
Then, any cash that you earn can be invested in an eligible 529 college savings plan, used to help pay down an eligible student loan, transferred into an FDIC-insured Upromise GoalSaver account, or withdrawn by check. Easy as that. It’s basically free money for college, so you have nothing to lose by signing up. And, right now, when you invite family and friends to join Upromise, you both get $20!
Question of the Day
Parents: What are you doing to save for your children’s future/college education?