In the US alone, social media users spend approximately 121 billion minutes on social media websites per month. If you calculate all that time out, that’s over 100,000 years of our collective time. How much time in a month do you spend on social media? Do you use social media reporting techniques to track the hours you spend managing your accounts?
Let’s face it: the number of hours you spend on social media is probably high. And while it’s true that social networks can be used to connect with family, educate you about local and global news, and help with marketing efforts… most companies and individuals agree that it’s far more often used as an easy distraction, especially during work.
So we’re going to demonstrate a few simple ways to turn that wasted time into savings, proving once and for all the truth of the old adage, ‘time is money’.
Did you know that most major brands post special sales, discounts, and savings just to their social media followers? In most cases, these deals and savings can stack with other published discounts and freebies. While Facebook and Twitter are the biggest fish for published discounts, Pinterest and Instagram have also begun cropping up with some great deals for followers, lately.
Connect With Websites Using Social Media
Have you ever seen the ‘login with Facebook’ option at a website you visit? If you don’t frequently use this option, consider doing so next time you register on a website! Doing this allows businesses to target promotions to your social media account. One of the most useful ways to utilize this feature is to connect with websites which promote daily deals, sales, coupons, and savings.
Social Media DIY Sharing
You’ve probably noticed videos or articles shared on social media which promote interesting DIY options and lifestyle hacks to save money. But actually using that advice translates into real savings! Social media websites like Facebook and Pinterest offer a wealth of information on how to cultivate a cost-saving, DIY attitude.
Yelp and Foursquare
These social media, review, and check-in sites and apps can also help you net some savings! If you use their apps to check into a location once, and rate it highly, the app settings can be set to notify you of deals, discounts, and other potential savings going on at that location. This is a great way to save money at bars, restaurants, and local retailers, many of which use apps like Yelp and Foursquare to increase their foot traffic. And of course, heeding the reviews others post can help you avoid paying for an under-performing restaurant or retailer which doesn’t sell quality goods!
Monitor Time So You Don’t Waste It
As with almost any other activity, there’s a point of diminishing returns with social media use. Most experts advocate using social media in short bursts to get the most benefit, without actively wasting time. And to monitor your activity, whether it’s on your personal or business accounts, you can engage any number of social media reporting tools to track the time you spend so that you can identify the points where you get the most benefit and use out of social media… and to help you cut out the extraneous hours.
Building Money-Savvy Tech Habits
In a world where there are only ever-increasing distractions and ways to spend money, it’s important to consider building money-saving and money-savvy tech habits. Our tech-related bills are often some of the highest that we pay, if you consider the combined cost of smartphones, computers, internet, and 4G… so any opportunity to shop smart or save money sensibly can help mitigate those costs!
Social media isn’t the only place where you can learn to save money on the internet, either! From using budgeting websites, to shopping smart and comparing prices across retailers, to making a second income from blogging, to setting up pricing alerts, there are virtually hundreds of ways to leverage your position as an informed consumer and come out with cash saved.