Frequent Miler on the Air
Earn miles while saving and paying for college | Coffee Break Ep31 | 10-28-24
Oct 29, 2024
Explore innovative ways to earn miles while saving for college! Learn how to use rewards credit cards and gift cards effectively to fund educational expenses. Discover the best methods for purchasing college gift cards and leveraging them for tuition payments. Unravel strategies to maximize rewards with minimal fees, and find out how to stack cash back or miles for greater benefits. Delve into the advantages of utilizing a 529 savings plan for penalty-free access to funds, turning expenses into earning opportunities!
14:55
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Quick takeaways
- Utilizing rewards credit cards to purchase Gift of College gift cards allows individuals to earn miles while saving for college expenses.
- The 'double dip' strategy enables further rewards accumulation by funding 529 plans and paying tuition with credit cards, maximizing educational spending benefits.
Deep dives
Earning Miles While Saving for College
Using rewards credit cards to purchase Gift of College gift cards enables individuals to earn miles and points while saving for college, whether for themselves or for loved ones. These gift cards facilitate 529 college savings plan contributions or can be applied to student loans, providing a unique opportunity to generate rewards from expenses that would typically occur. For example, when using a credit card with a rewards program that offers bonuses for grocery shopping, one can earn substantial points on each purchase of these gift cards. By strategically using their rewards cards, individuals can accumulate miles for the very expenses associated with education, effectively turning ordinary spending into valuable rewards.
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