[blparent] Has anyone used UPromise.com?

[Pickrell, Rebecca M (IT)]

Better yet, put an amount you can aford into a savings account every
month or every two weeks, whatever makes sense to you. 
My problem with the program you describe is that it encourages consumer
debt, buying on credit, i.e. buying things with money you don't have. 
Also, Sarah may or may not go to college. She may decide to learn a
trade instead. Would you get the money back from this program or would
you be out of luck? 
With a savings account, the money is hers no matter what. 
I'd also varify that the finantial planner isn't being paid or gifted to
promote this program. 
Me, I wouldn't do it. 
  

-----Original Message-----
From: blparent-bounces at nfbnet.org [mailto:blparent-bounces at nfbnet.org]
On Behalf Of Jo Elizabeth Pinto
Sent: Wednesday, February 18, 2009 6:38 PM
To: NFBnet Blind Parents Mailing List
Subject: [blparent] Has anyone used UPromise.com?

Hi, all.  I heard about a program today called UPromise.com that rewards
a person with savings toward college for making purchases from member
companies.  The web site is pretty accessible, and the gist of the
program seems sound--you register your credit card, then when you buy
from member companies, they contribute cash (usually one to eight
percent of the purchase price) toward your college savings account.  i
heard about the site from someone who is in the business of financial
planning, and with college so expensive, it seems like it might be a
good idea to sign up and start saving for Sarah, even though she's only
a year old.  I was wondering if any of you have used the service, and if
so, have you found it reliable and worthwhile?

Thanks,
Jo Elizabeth

"Don't throw away the old bucket until you know whether the new one
holds water."--Swedish proverb
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