Tuesday, February 13, 2007
Save for Your Child's College Education for Free
Save money for your child's college education by doing, well, pretty much nothing? Amazingly, yes &mdash the websites Upromise and BabyMint will give you free money to put in your child's college savings plans ("529s") simply by registering with them and purchasing participating products. According to to Upromise (via MSN), "A family with an annual income of $70,000 and a 5-year-old daughter could save $7,150 by investing their Upromise rewards over 15 years." Based on my experience with Upromise, that seems a excessive (and their assumptions include purchasing a house through their lender), but certainly there's some money to be made through signing up with these two companies.