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

FAQs

How can I use social media to make money? ›

Influencers can collaborate with brands for sponsored posts, promote affiliate products, or even create their own digital products to sell. It's important to note that the amount of money you can make on social media ultimately depends on factors, such as audience engagement, content quality, and your niche.

The 10% rule of investing states that you must save 10% of your income in order to maintain a comfortable lifestyle during retirement. This strategy, of course, isn't meant for everyone as it doesn't account for age, needs, lifestyle, and location.

Make a budget and make saving a necessary expense. Try out different budgeting methods until you find one you can stick to. Cut down on spending. Use budgeting apps to find out where you're money is going and look for places where you can cut back.

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

Instead of thinking about saving $10,000 in a year, try focusing on saving $27.40 per day – what's also known as the “27.40 rule” because $27.40 multiplied by 365 equals $10,001. If you break this down into savings per day, week, and month, here's what you're looking at in terms of numbers: Per day: $27. Per week: $192.

How to save 1k a month? ›

Staying in Debt

You may have money in the bank but if you owe the same amount or more to your creditors you're actually in the red. Chances are, you're paying much more in interest on the debt than you're earning from your savings account so you're that much more in the hole.

The more followers you have, the higher your earnings potential. However, brands also want to see a good engagement rate. According to marketing tech firm HypeAuditor, influencers with 1,000 to 10,000 followers earn an average of $1,420 per month, while those with more than one million followers rake in about $15,356.

Instagram accounts with 1,000 followers make $1,420/month on average and up to $100 per sponsored post.

How much does TikTok pay per view? Top creators have revealed that TikTok pays between $0.02 and $0.04 per 1,000 views through the Creator Fund program. If you do the math, that's $20 to $40 for a million views.

As an Instagram creator, you can receive payouts of your earnings from these monetization tools: Note: Earnings from branded content are for projects on the creator marketplace that state "paid through Instagram" only. To add or manage your Instagram payout settings, tapPayouts in the professional dashboard.