posted on October 19, 2005 01:31:58 PM new
Ever wonder what to do with your eBay earnings (just to keep this topic related)? U Promise is a college fund that costs us nothing - ever!
The idea is that if you buy certian products at certian grocery stores, or buy from different online stores or visit registered restaurants, you get credit back for a specified person. (The list is verrrrryyyyy long).
So for example - King Soopers here in Colorado. They have the different items tagged on the shelf with the UPromise logo. If you buy that product your account will get credited 2-7%. Albertsons and Safeway also participate. And from what I have seen all big supermarkets participate including CVS drug stores.
If you register your debit /credit card and use it to buy online or eat at certian restaurants then you get a % for those purchases too.
I was asked so what happens if they go belly up. What happens to the money? My answer was that it was free to begin with, so I have lost nothing.
When you register on the UPromise.com site you can designate who you want the funds to go to. And anyone can 'contribute' to that childs fund - relatives, friends etc.
We also discovered that if you want to put $50.00 a month into a 529 college fund, you can do so through their web site. But that is totally optional.
And lastly if the desingated child does not go to college the money goes back to them. We would collect nothing - but then again, it wasn't ours to begin with.
Hope you all check it out and start earning $$ for the kids education.
posted on October 19, 2005 06:27:30 PM new
We started modest college funds for our three grandsons, who were then under the age of 5, about 3 years ago. It makes us happy that we can contribute in some small way to their college work someday. Assuming they do GO to college. If not, anyone in the family can use the money for further education, schoolbooks, etc. We still control it until the kids are of age. And now we're glad, because the daughter with two of the boys is getting divorced. We're glad we didn't just hand over some $$, because it would now be a bone of contention (among MANY bones, LOL) in that ongoing divorce.
