Have you ever rationalized a little shopping spree as “doing your part to help the economy?” Think how much better that rationale would be if your shopping was actually helping to build your kids’ college fund. (Depressing but probably not shocking fact: 10 years from now, the average cost to send 2 kids to a four- year college will be $326,407).
That’s why we think UPROMISE is a pretty great idea.
Upromise is a savings network focused on fundamentally altering the affordability of a college education. (It’s just two years old, but has already enrolled over a million families, and has been hailed by Bill Bradley as having the potential to “change the world”).
HERE’S HOW IT WORKS: You sign up with upromise on- line (it’s free and pretty quick) by enrolling your credit cards and loyalty cards. Then when you spend on those cards with participating companies (and there are many), those companies give back a portion of what you spent to your Upromise tax- deferred college savings account. (You can also get benevolent family and friends to join and contribute their savings to you).
Participating Players:
It’s pretty hard to keep track of all of the retailers, products, services and even restaurants that do participate. Yet since there are so many, chances are by doing your regular purchasing, you’ll unavoidably hit some that do.
Just a smattering of the thousands: Exxon, Borders, gap.com, A&P/Food Emporium, AT&T, Staples, Toys R Us, Coca Cola, General Motors, Huggies, Circuit City. Rebates range from less than 1% to 10%.
Learn More About Upromise (or go get enrolled)
There’s also a upromise citicard that allows you to get a contribution no matter where you spend.
(I just checked my own account, though, and notice that my savings thus far will barely get my daughter a textbook). The obvious conclusion? I better go out and go shopping.
Enjoyed this Momorandum? Forward it to your friends, and don’t forget to visit us at www.executivemoms.com and rsvp for our big upcoming events!
Sincerely,
Executive Moms
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