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  • Ways to Make & Save Money #18: Upromise

    You can read the rest of the Ways to Make & Save Money series here.


    Upromise is best known as a vehicle for accruing college savings, but it’s really just another cash back site that rewards you for shopping through their links and buying specific products. You don’t even need to have a college savings account in order to save money through the program, because you can convert your savings to cash by submitting this form (pdf).

    The main way to save money with Upromise is to use it as a cash back shopping portal, just like Ebates or Mr. Rebates. If you use multiple cash back sites like I do, you’ll want to use a site like Evreward to see which site is giving the most back. Sometimes it’s Upromise, sometimes it’s another site. For a while, Upromise was the only site to offer cash back at iTunes so we always went through them.

    Upromise also has digital coupons that you can load to your store loyalty card – different stores are available in different areas, but I’ve registered my Ralphs (Kroger affiliate), Vons (Safeway affiliate), CVS and Rite Aid cards. Upromise digital coupons are administered by SavingStar, and many of them are the same. It looks like some of the e-coupons may be stackable, but I use them rarely so I have no personal experience.

    You can save money in many other ways with Upromise, ranging from dining at specific restaurants to opening a Sallie Mae savings account. You can also get family members to register their credit cards or use your personalized shopping link so they easily can contribute to your Upromise savings without additional cost.

    Once you’ve got some savings in your Upromise account, you can transfer the funds to select 529 programs, pay off select student loans, or withdraw the funds via check.

    Unless you use Upromise a lot, you won’t save a ton of money. But it’s a painless and easy way to add some additional funds to your child’s college fund, or to your savings account.

    Thank you if you join(ed) Upromise using my affiliate link!

    This post contains affiliate links that help support this site at no additional cost to you. Thank you for clicking through them! You can read CFO’s full disclosure here.

    I finally signed up for Upromise

    I hesitated for a long time before finally signing up for Upromise. My biggest concerns were giving up my personal information yet again, and not accruing enough money to make it worthwhile – after all, we haven’t funded a 529 account yet. But a few months ago, I learned from Five Cent Nickel that you can withdraw the funds in your Upromise account. That was the clincher – I could start the account, and if the money wasn’t enough to make investing worthwhile (taking fees into consideration), at least we could withdraw the money and do something else with it. Additionally, thanks to Consumerism Commentary, I’ve learned that I might be able to apply the funds to my own student loans. All in all, it added up to free money that I could no longer pass up.

    Thank you if you join(ed) Upromise using my affiliate link!