10 Surprising Ways To Use Social Media To Save Money (2024)

FAQs

How can social media influence you to spend money? ›

Social pressure and keeping up with friends

We see our friends posting pictures of their luxurious vacations, new cars, and expensive clothes, and we can't help but feel the urge to have what they have so that we don't feel less than them. This can lead us to make purchases that may not have been a priority.

Creative ways to build up your nest egg include rewards programs, savings challenges, negotiating bills and even saving up your loose change. You can also save money by finding a bank with a high-yield savings account and that doesn't charge monthly fees.

TikTok pays creators through its Creator Fund program, which is essentially a pool of money that TikTok has set aside to compensate creators for their content. To be eligible for the Creator Fund, you must meet certain criteria, such as having a minimum of 10,000 followers and 100,000 video views in the last 30 days.

Use social shopping apps to snag low prices.

Retailers often announce their sales first through social media so their followers and fans get the early deals. Just make sure you're not oversharing – if you're making purchases you don't want the world to know about, then avoid sharing them on Facebook.

Peer-to-peer and crowdfunding campaigns can help any nonprofit gain traction on social media. Crowdfunding campaigns can easily be shared by your supporters to generate more momentum. With peer-to-peer fundraising, your supporters can create fundraising pages to directly raise money on.

Many ultra-high-net-worth families have found that social media has inadvertently become part of their lives, but with it comes a myriad of reputational dangers unique to the high-net-worth community.

If it isn't safe or suitable for you to open a bank account or get a prepaid card, another option is to keep a money stash (sometimes called “money under the mattress”), which is cash you keep hidden in a safe location your harm doer doesn't know about.

Typically, you'll get paid per post, with your follower count and engagement rate setting the price. Nano Influencers, who have 500 to 10,000 followers, get paid between $10 - $100 per post. Micro influencers, who tend to have 10,000 to 50,000 followers earn about $100 - $500 per post.

It can vary based on how much your followers interact with your posts and the specific company you're working with. But even if you don't have a lot of followers, you can still earn a good amount of money. People with around 1,000 followers can make about $10 per post or even up to $1,420 per month.

As of 2024, an influencer can earn around $200 to $3,000 per post, depending on the social media platform you're using, your follower count, and engagement rates. In this post, I'll take you through how influencers make money, and how much they could earn depending on their platform.