Upromise program

[scout123]

I just signed up for the Upromise program, but I have a couple of questions for those of you already signed up. I registered my credit card and debit card, but also requested a Citi credit card. Does the Citi card contribute at least 1% of ALL purchases to your fund while the other credit cards only contribute if the company you purchased the item from is in the program? I try to have the least amount of credit cards possible, so I didn't know if I really need the Citi or not. Also, I signed up for the 529 plan (I think the numbers were 529 anyway!) but can't decide how much to contribute a month. How much are you contributing? TIA!
Angie

[DebbieJ]

If you want to start saving for your children's college expenses, you should really talk to a financial planner/advisor to determine the best way to do it.

~ deb
DS born at home 12/03
2 year check up: 25 lbs with clothes on and 35 inches!
BFARed for 20 months and 6 days
(Breastfeeding After Reduction is possible! www.bfar.org)

http://www.bfar.org/members/fora/style_avatars/Ribbons/18months-bfar.jpg

[s7714]

Ditto the PP about talking to a financial advisor. Or at least start checking out the various 529 plans that are available yourself. Depending on where you live and what plan you go with, there can be tax breaks or tuition discounts, etc. Here's a site I found some good information on when researching plans for my DDs: http://www.savingforcollege.com/ Upromise didn't have a very good 529 plan when I originally joined their program, but I think they've options since then.

I joined Upromise a long time ago, but really haven't used it much for online shopping as I've found that I can get more money back going through a site like ebates. The money I get back then goes into my DDs 529s. (I do get money in Upromise from grocery shopping, etc. but I've found that 99% of the stuff I buy is from non-contributing companies, so it really doesn't add up to much.)

As for contributing amounts, that is something that should be based on your income/budget. Obviously the more you contribute, the more you'll save, but you shouldn't contribute so much it'll cause problems in other areas financially. Again, this is where talking to a fianacial advisor is good idea, because depending on your tax bracket there might be advantages to setting a higher or lower contribution.

HTH,
Jennifer
Mommy to
Annalia 3/03
Sophia 6/05

When raising kids the days are oh so long, but the years are short.--John Leguizamo

[eb1]

I've actually found that Upromise has an equivalent or sometimes better percentage-back savings as ebates, at least for the sites that I shop from. When ebates occasionally has a higher percentage-back than Upromise, it's been a 1% difference.

I've only recently joined Upromise though, so I wonder if their savings partners have increased since you were using them, or perhaps it's just a matter of which online retailers one tends to use.

[s7714]

Yes, some retailers increase their contribution % periodically. Some also decrease them and I've even seen a few major ones drop out of the program completely.

Jennifer
Mommy to
Annalia 3/03
Sophia 6/05

When raising kids the days are oh so long, but the years are short.--John Leguizamo