Cheese Grits, College Savings, Black Holes, and HELOCs
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For most parents, saving for their child's education is always a priority. With the volatility and uncertainty in today's market, it has become a priority that is not so easy to fund. Most would agree that a hundred dollars here or a hundred dollars there, while not providing a full ride, would definitely help out. Even better, what if you could contribute a couple hundred dollars a year to your child's education without having to spend any extra money?
Sound pretty good? Well that is exactly what Upromise.com does. Upromise is a website that has partnered with many online retailers, grocery stores, and other businesses. They offer to contribute anywhere from 1% to 5% of your purchase to a 529 plan for your child's education. All you have to do is register your customer loyalty cards or credit cards with the Upromise website and shop from their participating partners. From their website you can also find restaurants by zip code that participate. If you register as a preferred diner, the 4% contribution can turn into as much as 8%. This is free money, and it is money that you are spending anyway! Why not let it help you fund you or your child's education?
As you may recall a few weeks ago, a friend of mine wrote in telling us of how his Home Equity Line of Credit had been frozen by his bank causing two checks to bounce. In the show today, I share a readers email that explains how this practice may actually be illegal! According to the Offic of Thrift Supervision, banks may no longer freeze credit lines based on blanket assumptions by zip code. In the show I share the entire email as well as information from comments of Clark Howard's website.
Finally, because I'm a geek and I can relate to these scientists over in Switzerland, I address what could either be an unbelievable feat for science, or an event that could create a black hole and destroy the world as we know it. There are many differing opinions on what could possibly happen with CERN's $4 billion dollar atom smashing experiment. Check out this YouTube rap, and it may put your mind at ease. If easing your mind isn't what your looking for, then check out this YouTube clip.
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2 comments
1 month and 29 days ago
Hi Brian, I listened to your podcast for this week, today is 10/2/08 and was amused by the ratings you got from other listeners. While I have to agree with all of your fans I find that you are more of a «state of mind» or «Philosophy» type of guy and would give you 4 out of 5 stars for what you are doing. The only feedback I can offer is that you need to stay more on point and not go off on a tangent (sp?) as much, but otherwise I find your podcast enlightening and helpful. I also listen to other financial based podcasts and find that most of your opinions/forecasts/advice to be aligned. One suggestion I do have is that you should let the listeners know what the goal of each specific podcast is and how you are going to validate (research, statistics, historical trends) the rational behind this particular thesis. I feel this is your general approach to your podcasts, I loved the HGTV house story a few weeks back; but at the end of your podcasts I feel like I wasn't given enough specific details or analysis; that it was more of a «Brian's Philosophy on personal finance». But, if that is your goal, then okay, I understand and will keep tuning in anyway... your fan, Mike
1 month and 9 days ago
Brian,
I've been listening to your podcast for about 2 months now and consider it one of my favorite financial podcasts. I especially liked the Upromise one 'cause it kinda got my butt in gear. I'm signed up and have registered my cards. The next thing I need to do is sign up for a 529 and link it to this account. California is not one of the participating plans so I'm assuming that by using the Upromise or other state plans offered that my great State of California will want a cut come withdrawal time. Would I be correct in assuming this, and if so, any suggestions?
Keep up the good work!
Tim
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