Social Media and Personal Finance: The Less Talked about Connect

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Social media or the social networking websites apparently make for one of the most unlikely sources that can actually help you save money. You might not have thought about it, but it’s true that social media savvy people often end up making substantial savings from various avenues. Today, we will find out how exactly social media can help you save money. Read on to find out.

How can Social Media help you save money?

Come to think of it. Brands have long joined the “social” bandwagon to bolster exposure. So, it’s quite obvious that they are promoting their deals here as well. Following these brands closely on Twitter and Facebook might as well get you through impressive deals- the discounts, offers or surprise packages. Each and every brand out there is clamoring for a place in the digital landscape – quite simply to be noticed by the YOLO generation. According to the experts, the millennials’ younger brothers and sisters are more hooked to social media than what the millenials had ever been. So, an effective way to track discounts offered by your favorite brands is to follow them closely on social media. Those who are serious about improved outreach, will always update their social media pages without fail.

Social networking websites are one of the cheapest ways in which marketers can reach out to you. One of the most notable advantages of being on social media is that you can come across a lot of smaller brands who are yet to find their foothold in the industry and are not in a position to shell out the required money for a website or for that matter for expensive television or newspaper advertisements. These brands generally offer interesting products at cheaper rates than that of their conventional counterparts. Home décor and jewelry brands are common examples.

Why only jewelry or home décor items? You can even go on to save on your college expenses by following social networking sites like SmartyPig and GreenNote. They provide you valuable tools that help you save for college. You can even go on to request for donations through MySpace, Facebook, LinkedIn and Twitter.

Find their lost pets!!!!

Yes, social networking websites like Facebook, Snapchat, Instagram and Twitter connect you to friends, family, relatives every day. You might as well come across news of lost pets in your neighborhood and rewards for the same as well. Who knows a little bit of efforts from your part (i.e. to find the pet) might as well help you land up with the reward as well?

Crowd-sourcing

Thanks to the social media websites- crowdsourcing has emerged as such a sought-after phenomenon today! It is extremely important to ensure that you’re keeping yourself abreast of these programs – especially if you are actually planning to start a business in the future.

Educate yourself about the website Tweet What You Spend. Here you can use your Twitter accounts to send your regular brief expenses and have your spending limits set by the cash journal. Just track your expenditures better with its help.