The holiday shopping season is coming to a close, but it’s not to late to end 2011 with a smart financial move. Signing up for Upromise is a simple step to take to start saving more money on everyday purchases you already make like groceries, entertainment, and of course gifts.
Many people think of Upromise as a way to save for college for their children, but that’s only one option! Here’s how you can put your Upromise money to use:
- save in a 529 account
- receive a check
- transfer to a high-yield savings account
- pay off student loans with Sallie Mae
Ways to Upromise to save:
- Link your credit and debit cards to Upromise so everytime you shop you save!
- Shop via Upromise.com or use their TurboSaver toolbar (not available in Chrome or Safari OS) to get additional $ for your account and even find exclusive promos and coupons.
- Use a Upromise credit card to earn 1% on all purchases, 3% on qualifying purchases made via Upromise.com and 11% on select groceries and dining.
- % savings online vary with many retailers offer double bonus days, and other promotions where you can earn as much as 30% back!
The benefits are great-just remember to signup with your cards and rewards cards in hand to enter all the info at once. Since this is a one time thing it’s definitely worth the 10-15 minutes it will take you to enter your membership, grocery, and credit or debit cards.
Another great feature is that you can invite family and loved ones to sign up as well so they can help grow your child’s college savings simply by doing their regular shopping! Since many families are strapped for cash and more and more seniors are living on a smaller budget this is an easy way for them to help without having to dip into their own savings accounts.
Many families I talk to are unsure how much they should be saving for college educations, or even if they should start with other financial issues that seem more pressing. I offered five tips for saving for college on the Upromise site, but caution families to make sure their debt is under control and retirement is being saved for before they save for college for their children.
Upromise makes the choice easy by providing a way for you to save simply, and you’ll find it’s easier to add a little extra once you get in the habit of saving and seeing your money grow.
Do you use Upromise? What other strategies do you use to save for college?
Disclosure: I’m a brand ambassador for Upromise, and was compensated to share my opinions, which are my own.