You are proud parents of the next Albert Einstein. Who isn’t? College is a mere 18 years away, why should you even consider saving right now? There are diapers, formula, pacifiers and other necessary items to buy. You don’t have time to think about college.

If you are like most, saving for college is an after thought. After the new car, after the xBox, after the wood floors, or after the next big raise. And like most, “after” smacks you in the face 17 years later. There is a way to consider it now. It’s called UPromise.

For every purchase you make with participating retailers, restaurants or grocers, UPromise.com will contribute a percentage of the purchase into your Upromise account to be used for college. Once you have accumulated earnings into your Upromise account, you can choose to begin a 529 plan, pay down an existing Sallie Mae student loan or collect a check for college expenses. So what is the catch? That’s a fabulously frugal question. There really isn’t a catch. Upromise has partnered with a large list of retailers, local restaurants and grocers to give a percentage of whatever you spend with them back to you.

To begin saving for Johnny or Jenny’s college, all you need to do is visit UPromise.com, join (for free) and link your credit card or grocery saver card to your account. (Sidebar: I always wondered when that grocery card that gets scanned each time I buy groceries would come in handy.) Each time you eat out at participating restaurants or buy participating products at the grocery store using your linked credit card or grocery card, you and your child benefit. There is a list of participating restaurants and grocers in your local area on the UPromise.com site. However, you have a much bigger opportunity to save for college by purchasing products online at participating retailers.

To take advantage of this savings path, log into the UPromise.com site. Upromise will keep track of your spending at the participating retailers as long as you make the purchase within the Upromise site. If this option gives you heartburn, remember most online retailers have a free “ship-to-store” option where you can order online and pick up at your local store (e.g., Wal-Mart). With this free “ship-to-store” feature, you can save for college and save time. Now that is thinking frugally.

So surf on over to UPromise.com, sign yourself up, link your grocery card and/or credit card and begin saving. And don’t forget that you can use the accumulated earnings to pay for existing Sallie Mae loans. Everyone benefits.

Are you a part of Facebook? If so, add this UPromise Facebook app to see UPromise deals inside your profile page.

Don’t forget to Flaunt Your Frugal!