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Gosh it's a small world.  One of my readers down South emailed a friend of mine here in Philly after reading my post about 529 plans to ask me if I Upromise.  Do I?  Why would you not Upromise?  It's a great way to save for college without actually taking any money out of your own pocket.

For those of you who have no idea what I'm talking about, here's how it works:  registration is free.  You sign up at www.upromise.com.  As the parent, you create an account and you designate your student beneficiaries.  In my case, I've designated my three children, even though they are years away from college.  To start saving, you can link credit cards and grocery/drugstore cards (mine include Genuardis, Acme and CVS) to your account.  Whenever you buy certain products, shop at participating stores or eat at restaurants in the program, the company associated with that product makes a contribution to your account.  That's right, companies that sell products or services that you use anyway give you money back!

Is it loads of money?  Of course not.  Well, not if you shop like me anyway.  But it's a start.  And remember, every little bit counts.  In just a few short months, I've added almost $10 to my account.  That's $10 that will grow, over the next twenty years, tax-free, for college.

The tax-free bit?  That's the best part.  With Upromise, you can link directly to a 529 plan in certain states.  I know that, for now, the program supports links to 529 plans in Pennsylvania, Iowa, Colorado, New Mexico, Nevada, Missouri, New York, North Carolina and Arkansas (I would suggest that you check with the company directly to see what other plans might be supported).

So, those 529 plans that I set up for the kids last week online?  They are linked to my Upromise accounts so that the money is deposited directly into the 529 accounts.

And it gets better!  You can ask friends and family to help you save by linking their own cards to your beneficiaries' accounts.  Armed with this info, I recently sent an email to the grandparents asking them to participate.  My dad already signed up.  And the thing about my dad is that he enjoys a Coca-Cola.  Really.  In a big way.  And Coca-Cola just happens to be one of the participating companies.  I'm thinking, if all goes well, Katie's freshman English class will be paid off in a few years just based on my dad's soda habit...

If you haven't already enrolled, at least check out the website.  You'll find tons more information about how the program works and the names of the participating retailers and restauranteurs. 

And in the future, if you have a question for me or would just like to say hello, no need to use a middle man!  Just drop me a note.