529 Plan and College Savings

Archive for August, 2010

Question: UPromise College Savings….?

I just signed up for UPromsie…an organization that helps you pay for college….or loans that you are currently using for college. How does it work? I always see the little UPromise tags on the back of boxes and stuff…but I can’t seem to get the info I need on their Web site. THey make it sound like you have to shop online to earn all of your points.

Can’t I just collect the “coupons” on the back of certain items and enter the UPC in somewhere???

If anyone know anything about this…please let me know!

Thanks!

Answer: I signed up for UPromise when they first got started. While I’m no expert on it, from what I understand is that every time you purchase something from a UPromise partner, a percentage or portion of that goes to your account (i.e. if you order flowers from FTD and they say 10% of your bill will go towards UPromise, and if your bill is $60, then $6 will go into your account).

When you register your debit and/or credit card anything you purchase that is affiliated with UPromise will have a percentage go into your account (like at the grocery store – like two or three cents worth of each UPromise tagged item you purchase).

Even when you go out to eat, if the restaurant you eat at is affiliated with UPromise, a percentage of your dinner expenses will go on there.

Most of my UPromise savings come from the grocery store. When I have to purchase gifts, I go online and purchase them through the UPromise link to the company so that that purchase can be counted (like at www.onestepahead or www.disneyshopping.com for example)

When you get ready for your child to to go school you would contact them to have the money withdrawn. More information on that can be found at https://lty.s.upromise.com/8106.2.do

Hope that helps!

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