SAVE while you save…

A mall mouse loves to save while shopping…but (!) what if you could save and SAVE at the same time!

A friend told me about this, and it was also featured in a parenting magazine, so I had to check it out for myself.  There is a free program that allows you to get a percentage of your purchases free from participating companies called Upromise (www.upromise.com).  For example, you spend $100 at Target, Target puts $2 in your special savings account. Doesn’t sound like a lot? Who cares, you’re getting something for nothing and you can then use that money to pay for your child’s college education (free money!).  Also, they have many online merchants, grocery stores, and restaurants that all give you FREE MONEY for your little rodent’s college education.  Some give 5%, some 8%, if you buy and sell real estate with a participating merchant you get $3000. How ya like me now!

Now, I just signed up for this. Mouse Jr. is 4, and Baby Mouse is 4 months old, so by the time they go to college, all my shopping should add up to tuition, books, room and board, Ferrari to get to class in…you get the drift.  You can also open a 529 savings account linked to this (that’s a college savings account) and put in $50 a month, which along with what you get from Upromise should add up fast.  You link your credit cards to it so all your purchases put money into the savings account.  So far, I did not open a 529.  I want to see how much actual free money comes in and how fast it adds up from shopping alone.  By the way, if you don’t have kids and you’re not saving for college, you can save for yourself, for anything you want.  The money collects in a Upromise account, you cash it out, then pay taxes on it - still free money!

Mouse tracks:

go to www.upromise.com –> Open an account –> register credit cards, grocery cards, etc–> shop–> get free money to send your little rodents to college.

(as always, the information provided is anecdotal and does not constitute legal or financial advice)

This entry was posted on July 20, 2006 at 10:27 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.