College is widely considered to be one of the most expensive decisions many will need to save money early on to pay for. College tuition increases soundly beat inflation annually, which is not good. But, there are easy ways to help you prepare (for yourself or dependent) for this massive expenditure with the use of the online shopping portal and savings 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 provides a way for you to save money for college.
Save money for college a lot more easily
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 save money to send the little ones to college using this program, 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.