Thats the idea behind Futuretrust, a MasterCard-linked college savings program that puts 1 percent of cash from your retail purchases directly into a government 529 college savings plan.
Entrepreneur Rebecca Matthias who owns a multi-million- dollar maternity company called Mothers Work is the president of Futuretrust, and says the credit card is a smart and easy way for parents to continually put money into their kids college funds.
The card is linked to preferred stores like Sears, Target, Linens-N-Things, and KB Toys, so that every time you use your card to purchase something from those stores, you get anywhere from 1 to 10 percent cash back that goes right into a pre-set 529 college savings account.
For the most lucrative results, Matthias suggests parents set up a Futuretrust card and 529 account as soon as their kids are born.
Matthias explains, If you buy sheets for your babys crib at Linens-N-Things, 4 percent of your purchases go into their college savings. Youre saving while youre buying things you need anyway.
Matthias says Futuretrust is also a good way for parents to feel guiltless about their own personal purchases.
She adds, Every time my daughter and I are shopping we joke about the card. If I buy myself something I say, Honey, this isnt for me, its for your education and it is!
To start saving, visit futuretrust.com.
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