Social media is a great way to connect with others, but it’s deceptively easy to get sucked into the never-ending stream of cat videos, baby pics, and jealousy-inducing travel photos.
During any given week, you might spend the same amount of time on social media as you would at a part-time job. But did you know that you can turn your time on social media into cash?
From making money on YouTube to sending out sponsored tweets and networking in Facebook groups, you can leverage your time on social media to earn extra cash.
1. Making money on YouTube
Making money on YouTube is no easy feat, but it’s definitely possible if you already have a presence on YouTube.
LaTisha Styles, founder of Young Finances, has over 100 videos uploaded on her YouTube channel. She earns roughly $300 per year with YouTube ads — proof that you don’t need millions of views before you start earning money.
On top of that, she’s able to build brand awareness and connect with viewers across the world. Being able to connect over video helps consumers to get to know you — which can make selling products and services easier.
Though YouTube may not make her rich, Styles credits her channel for securing a lucrative brand ambassador contract with a company that found her through the social media site.
“The videos were directly responsible for at least $6,000 worth of brand ambassador deals,” said Styles. “The company told me that they found me via YouTube. I believe my YouTube channel is what helped me get most of my influencer deals.”
Jason Vitug, founder of personal finance blog Phroogal, has five-year-old YouTube videos from his adventures around the world that continue to earn him roughly $100 per month in passive income from YouTube ads. Making money on YouTube will be dependent on your fan following, but don’t assume you have to go viral to get started.
2. Join Facebook groups
Most people use Facebook to stalk an ex or keep tabs on high school friends, but there’s another way to use Facebook to your advantage: Facebook groups. If you’re curious about how to make money on Facebook, this is a good place to start.
You can also use these groups to market your products or services and connect with other like-minded people. Be sure to follow the rules of each group, though, or you could get banned.
I’ve made thousands of dollars by joining the right Facebook Groups. I stay active in the groups by helping others and responding quickly if there are opportunities. Learning how to make money on Facebook doesn’t have to be difficult — you just need to be strategic with where you spend your time and how you use the platform.
3. Earn money with sponsored Tweets
Can you make money in 140 characters or less? You can on Twitter.
Kathleen Celmins, founder of For-Profit Blogging, earned $50 for a single tweet. Dorethia Kelly of The Money Chat earned $150 for sponsored tweets and Facebook posts. How? By signing up with influencer networks such as Sponsored Tweets. Through influencer networks, you sign up, create an account, and get matched or apply for opportunities with relevant brands.
“For social media posts only, I charge $150 each. I was contacted by a marketing company, Tap Influence, and get opportunities sent through them … others I get from people following me,” said Kelly.
That’s not the only way to make Twitter work for you. I’ve made money by tweeting out my referral links from Postmates and Uber. Additionally, I’ve connected with high-profile editors and companies that have become clients.
They key is to actually network on a social network such as Twitter. Share content, engage with others, and be consistent.
4. Be a brand ambassador on Instagram
Do you have a large online following on Instagram? Can you tell stories through the power of photos? If so, you can be a brand ambassador for companies on Instagram.
A brand ambassador promotes products or services on behalf of a brand and uses their influence to promote awareness and sales. In some cases, you may get free products in exchange for posting about it, or you could get cold, hard cash.
If you want to make money on Instagram, check out PopularPays. Both of these sites connect social media influencers with brands for custom collaborations. These marketing campaigns can be a win-win for the company and social media users who might already enjoy a particular product or service and want to share information anyway.
5. Teach others how to use Pinterest
If you have a knack for Pinterest, you can leverage your talents and become a Pinterest manager or consultant. While some social media platforms may be more intuitive, not everyone is good at Pinterest.
Brands and bloggers alike know that Pinterest is a powerhouse visual search engine that can drive traffic and sales. But without the skills or talent, the strategy could be a bust. If you have the know-how, become a Pinterest manager or consultant.
Making money on social media
It’s important to note that if you are making money using sponsored posts on social media, you will likely need to disclose that it’s an ad or a sponsored post. If you’re sharing your referral link for Uber, Postmates, or other similar service, mention that this is your referral link and both parties will benefit if people sign up.
Don’t forget about an indirect way that social media can make you money: through the power of marketing. “Social media has been the biggest marketing tool by far, especially since I utilize all the platforms,” said Argin Gerigorian, owner of GuruEcom.
“Instagram has grown tremendously — especially with their stories, live feeds, and direct message options,” Gerigorian noted. “Facebook is still on top for us, as Facebook Ads are the best dollars we spent to bring clients in.”
If you’re a small business owner or even a side hustler, you can promote your products and services on social media to help you earn money. Regardless of your passions or interests, you can leverage the power of social media to help you earn more money.
Interested in refinancing student loans?Here are the top 6 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.97% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at firstname.lastname@example.org, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.57% – 6.97%1||Undergrad & Graduate|
|2.47% – 6.99%3||Undergrad & Graduate|
|2.68% – 8.77%4||Undergrad & Graduate|
|3.24% – 6.66%2||Undergrad & Graduate|
|2.61% – 7.35%5||Undergrad & Graduate|
|3.01% – 9.75%6||Undergrad & Graduate|