Sponsored post for Upromise
In a few weeks we are driving our middle son to University. He is a first year student and we are first time college parents. We have learned so much from savings to outfitting small dorm room spaces for him. There is so much I have learned this past year that I wish I knew before. Saving for college is one lesson I realized I should have learned years ago. I now know a bit more on how to start a college fund and save the right way for his younger brother. Upromise by SallieMae is loaded with tips, savings and even ways to start building a fund for your child’s future.
When T started his very first job at 15, he was already talking college but we knew little about the process. At the early High School years we were focused on grades, class choices and SAT prep. Tuition seemed far away. Now that it is here and I just got the email for our out-of-pocket costs last week I am glad I at least did a few things to prepare, although there was so much more I could have done. Beginning with that first job, I opened him a checking and savings account and would make him move 5% of his paychecks to that savings. He has enough in there today, even after having to buy a new tire for his car when it went bad, to buy his portion of books for school. It was an emergency fund and if your child does not have one yet-start today!
Here is what linking your current credit/debit cards to the secure Sallie Mae Upromise account and/or signing up for the money-earning Upromise Mastercard can do for you. I linked my 2 commonly used cards in my account and now when I shop through the Upromise route or eat at certain restaurants and travel, I earn cash back using my own bank cards. It is a no-brainer because once you link, just continue doing the things you do with your personal and even store cards. I entered my zip code in restaurants and noted all the choices that will give me cash back. Now I will just be partial to eating at those establishments as they help our Upromise fund.
The Upromise by SallieMae Goal Settings Tips can prepare yourself and your child for the college years. After this experience sending our older son off to college, I have already seen the importance of starting early. As a result, the younger boy is 8 and this Upromise account I just set up will help. I have an open account for him but he does not work so a percentage of my pay will go into his emergency fund from now on. I will shop and spend smart as in ways I can get cash back. Upromise is a blessing because of the tips and savings you can get through the college process. Starting that emergency fund early is just one easy way to be prepared. We already know they are Super Stars at this young age, being a super star will get expensive down the road.
After signing up for a Upromise account and linking your children’s ages and cards, consider their Mastercard. Upromise MasterCard® cardmembers have earned $500 million in cash back for college. Below are some benefits while using the Upromise Mastercard
- 5% Cash back: Online shopping, online travel and restaurants
- 2% Cash back: Department stores, movie theaters
- 1% Cash back: On all other card purchases
- Earn up to 10% cash back for college: up to 5% when you make eligible purchases through Upromise.com. PLUS 5% when you pay for those purchases with the Upromise MasterCard.
- No limit to the total cash back you can earn on eligible purchases
- $0 fraud liability on unauthorized transactions
- No rotating reward categories
- A chip card makes paying for your purchases more secure at chip card terminals in the U.S. and abroad
- Complimentary FICO® Credit Score
Start saving and learning how to become prepared at http://upromise.com. Don’t forget to bookmark the site after signing up. Head there first to get to your favorite online stores and shop so it records your purchases. Now just watch their accounts build. It will be there for you when you are ready to cash out for them.