Tips For SavvyFi’s 529 Cashback Rewards Program

The cost of college is rapidly rising, and student debt has become an overwhelming burden.  Whether you are saving for a loved one’s education or paying off student debt, you need all of the help you can get.

SavvyFi has partnered with EvoShare to bring you cashback rewards on everyday shopping.  EvoShare allows you to receive cashback rewards directly to your SavvyFi 529 account by shopping online, dining in-store, and booking travel.

Earn cashback rewards directly to your SavvyFi 529 account through everyday shopping

Cashback rates on EvoShare range from the single digits to over 20%.  Over ten years, one $100 purchase a week with 5% cash back going to your SavvyFi account could grow to almost $4,000, assuming an 8% annual return.

Cashback rates on EvoShare can exceed 20% of your purchase

We’ve come up with some easy suggestions on how to use SavvyFi’s cashback program so you can put a dent in your student debt or build up your 529 savings much more quickly.

1. Large Purchases

From time to time, you may find yourself in need of big-ticket furniture items, appliances, or electronics.  EvoShare offers cashback programs through over 2.000 online merchants, so you shouldn’t have trouble finding the right offer for your purchase.

Many big-ticket items, such as refrigerators and washing machines, can be easier to purchase online than in-store. So, you might as well shop from your couch and get some serious 529 rewards sent back your way.

One $1,000, 5% cashback purchase a year for ten years could increase your 529 savings by over $700 or help you pay off your student loans almost two months earlier.

2. Holiday Shopping

According to the National Retail Federation, the average consumer planned to spend $650 on gifts during the 2020 holiday season

This holiday season, save yourself the hassle of fighting the crowds and going from retailer to retailer looking for a sold-out gift.  Shop online at the same merchants in the comfort of your home and earn some 529 rewards.

Receiving 5% cashback on $650 in holiday gift purchases each year for ten years could increase your savings by almost $500 and help you pay off your student loans over a month earlier.

3. A Favorite Local Restaurant

Find a local fast food joint or restaurant by your house, and make it your go-to.  Start your weekend off right by bringing a nice breakfast home with you, or carve out time for a special date night each week.

Activate your favorite restaurant’s cashback offer through EvoShare before each trip. When you use your credit card in-store or over the phone, you’ll receive cash back to your SavvyFi 529 account.

One $40 food run at a 5% cashback merchant each week for ten years could increase your savings by over $1,500 and help you pay off your student loans over four months earlier.

4. Special Food Items

If you are one of those people who like to pick out your own produce at the grocery store, online grocery shopping through EvoShare may not make sense.

However, EvoShare has several meat and wine delivery offers that might catch your interest. Spice up your dinners at home with a nice steak or new bottle of wine delivered straight to your home, and get some cash back.

Over a ten-year period, two $100 meat or wine deliveries a month could increase your savings by over $1,900 and help you pay off your student loans over five months earlier.

5. Back-To-School Shopping

If you have a child in grade school, you’re probably spending some serious dollars right before each school year begins.  According to the National Retail Federation, if you’re an average family, you’ll spend about $700 before each school year.

Save yourself the trouble of the crowds, and get most of your supplies online through EvoShare.  Over ten years, you could increase your savings by over $500 or shave off over a month on your student loan term.

You Don’t Have To Spend More

As you can see from the tips above, you don’t have spend more to get a lot of value out of SavvyFi’s cashback rewards program.  You can simply divert the spending you are already doing to merchants that will give you cashback through EvoShare.

Over ten years with all of the examples above, you could save over $5,000 and pay off your loans over a year earlier.

By funneling your purchases through EvoShare, you could save over $5,000 in your 529 account or pay off your student loans over a year earlier

Other Tips To Increase Your 529 Rewards

1. Don’t forget to activate all offers before you purchase online or in-store. This is how merchants know to fund your SavvyFi 529 account after the purchase is made.

2. If you have an iPhone, download EvoShare’s mobile app. When you are out and about, it will be much easier to find participating restaurants close to you.

3. When shopping online, read the fine print in your EvoShare browser extension. Some online merchants have exclusions and different cashback rates for certain categories of items. You don’t want to buy an expensive computer and find out later that electronics were not eligible for 529 rewards at the merchant you chose.


SavvyFi is an investment adviser registered with the Securities and Exchange Commission. Therefore, we have to include some disclosures about the information provided in this article.

To estimate additional savings due to cash back rewards, we assumed:

  • Saving over a ten year period;
  • Annual returns of 8%;
  • 5% cash back on each purchase;

To estimate the reduction in student loan term, we assumed:

  • Beginning loan balance of $30,000;
  • Monthly payment of $311 prior to any cashback rewards;
  • Ten year loan term;
  • 4.5% student loan interest rate;
  • 5% cash back on each purchase;

These calculations are hypothetical and based on assumed information. Investment returns are not guaranteed, and each person’s experience may differ from the examples provided. Please see the footer of SavvyFi’s website for more information.

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