UPromise for CJ's College

[Bluezy]

In an effort to start a small fund for CJ's college (even though we are concentrating on survival for now), I enrolled in the UPromise program for college. After listing my grocery cards, debit and credit cards, I figured a small balance at the end of every month... in the matter of one week there is now a balance of $3.00!

How many of you are enrolled in UPromise? Do you make a $50 a month minimum contribution every month or wait until your UPromise balance hit's $50, then send it to your college fund?

This certainly makes it easy to put something back for college. And starting this program when CJ is 18 months means that we just might have a fighting chance of educating him the in the US after all.

[Lori63]

Every little bit helps! I only have $40 after 2 years, but don't do any shopping through them.
Congrats to you on starting this!

[Tree0164]

I have 529 plans for all 3 kids $50 for each one. I did have upromise but Fidelity no longer accepts upromse contributions.

[CRFSaver]

I now have $6.58 even though I have no children.

[Bluezy]

I've been keeping up with the balance this weekend. Another 50 cents has gone into the fund. I had no idea!

Will keep everyone posted.

[TBH]

Originally Posted by Bluezy

In an effort to start a small fund for CJ's college (even though we are concentrating on survival for now), I enrolled in the UPromise program for college.

Survival--I hear that! Survival, then saving for retirement, THEN college. It feels like we'll never get there.

I joined Upromise in May of this year (about 3 months ago) and have $23. But I have been really active--doing all my clothes shopping online thru the site, buying birthday presents thru the site, booking travel, etc.

I find the grocery and gas programs kind of insidious. Before, I'd always buy generic foods. Now I find myself buying the brand names just cause they get a Upromise contribution. And gas--the cheapest and most prevalent in my area are Sunoco stations. Now I find myelf buying Mobil and Exxon gas even tho it's more expensive, just for the 1cent per gallon contribution, and the 2 percent contribution from the Citi Upromise card, which I also signed up for.

But participating in Upromise does make me feel better about not being able to add to the 529s.

I plan to wait til I have a couple hundred in the Upromise account (YEARS away at this point) and then open a 529 that's linked to Upromise. I already have a couple of 529s that are not linked to Upromise (PA state ones), but I don't expect to be able to add to them for a while.

[Bluezy]

Claire:

Every little bit helps, hun! Although what we are able to save in a 529 might not pay for the entire education, it ccan go towards books, dorm expenses.

I've stiulated in my will that the benefit of my life insurance policy (with CJ as beneficiary) will be placed in some type of 529 plan, naming a trust as trustee, with all proceeds going to his education. However, the key here is that I have to die before he gets the money. Since I have no plans on doing so at this time, his college fund is good ole UPromise.

[mjrube94]

Tree0164,

Have you heard of the Fidelity 529 credit card? My SIL has one, it pays 2% on all purchases (no annual limit) and deposits the $$ directly into your Fidelity 529 account. She swears by it...

[Bluezy]

Ooooo...that is one I did not hear of. I was only aware of the Citibank Upromise card. I will check that out on the FIdelity website.

Thanks Tree

[Tree0164]

I don't use credit cards.

[Max'sMommy]

We have used this for with our grocery shopping for over a year now for Max, all three groceries we regualarly go to, participates- to date Max has $197.50 from it for schooling- Love it!
Also, you grandparents can register their cards from the grocery store too for more added saving for your child.

[Bluezy]

Max's Mommy:

Congratulations! That's a wonderful start for school.

CJ's gran registered her grocery cards earlier this month. I have not seen any rewards from her account though. I understand that some rewards can take several weeks to show up.

[TBH]

Originally Posted by Bluezy

]CJ's gran registered her grocery cards earlier this month. I have not seen any rewards from her account though. I understand that some rewards can take several weeks to show up.

I think the "friends and family" earnings don't show up until the funds are vested, so they take even longer to show up than the earnings from your purchases.

[Bluezy]

Thank you for that information, Claire We shall wait patiently for all other purchases to show on CJ's account.

[TBH]

Originally Posted by Max'sMommy

We have used this for with our grocery shopping for over a year now for Max, all three groceries we regualarly go to, participates- to date Max has $197.50 from it for schooling- Love it!
Also, you grandparents can register their cards from the grocery store too for more added saving for your child.

Max's Mommy,
Do you find that you buy products you didn't buy before, just because they have Upromise affiliation? Or are the participating products really ones that you bought before?

Claire

[mjrube94]

I don't buy products that I otherwise wouldn't just because of UPromise, but one thing I do is occasionally go to restaurants specifically because they are affiliated with UPromise. If we are going away on vacation (or to a place where I'm not familiar with any restaurants) and we would be going out to eat anyway, I'll look on Upromise's website to see what restaurants they're affiliated with. In many cases, you get 5-10% rebate. If we spend between 50-100 for dinner (or more if it's a nicer place), that really adds up!