Passively contribute to your child's future.

We have two daughters. Shortly after birth we set up a 529 plan for each of them. Each month we contribute $88 to each account. Grandparents also contribute $88 to each every month. We wanted to be able to contribute more, but we are a one income household, so we had to get creative.

The way our finances work: we pay household bills out of our bank account. Everything else goes on a credit card. Then we pay the card off in full each month.

We got the UPromise MasterCard and it has been incredible! We earn 1.5% cash back on all purchases. We also earn cash back on online purchases, for example: when I order my weekly groceries through the Sam's Club app, I earn 8% cash back! All of this money can be transferred to the linked 529 accounts. We divide the amounts evenly amongst the accounts each month.

You can also use the "round up" feature. Where if you spend $15.50, it would round up to $16, and that .50 would go toward the "cash back" balance. You can set a limit to how much you want to accumulate by rounding up (since you are PAYING it). We have our limit set to $100.

There's also a bonus when you first enroll that allows you to earn a $200 cash back credit after spending $500 using the card.

I know not everyone uses a credit card like we do. But for us, this is a way to passively contribute to our kids' futures. We don't spend any more than we usually would (aside from the rounding up). We have contributed over $400 in each account in just two months!

Just wanted to share this tip for those who may want to contribute more to their kiddos' college fund, but are struggling to make it happen.

Edit: 529 plan funds can be used for other things aside from college. However, you have to pay taxes on any GAINS. Common misconception.