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5 Ways Social Media Improved My Money Saving Potential

October 31, 2012

As with most niche subjects, social media sites are a fantastic source for information and discussion about personal finances, don’t believe me? Just try a Google search siting “personal finance advice”, the list of results is extensive. This is because generally when people have issues or confusions or even great advice, they like to share it with others, create discussion and get something back in return. Here’s how to use social media as more than an on-line mingling tool, and get you on the road to saving, the social media savvy way.

Investment opportunities

If you want to save some money then the chances are you’ll also be keen to learn about sensible ways to invest your savings, in order to protect them and potentially make them greater in the future. www.money-talk.org – is a great starting point for learner-savers. The forum style site allows you to post questions, participate in on-line discussions and read stories submitted by others in order to gain a deeper understanding of any kind of money issue. www.fool.com is another beginners style guide but this type geared towards making investments on the stock market. Daily financial news and stocks and shares information is uploaded and discussed by a panel of bloggers and people working in the financial world, a great resource for finding out how and where to invest.


Social media giveaways

Many social media sites use advertising as their primary source of income, so it’s no surprise that many of these advertisers have taken to giving away promotions and freebies to get audiences clicking. Anything from beauty products to restaurants and shopping vouchers can be claimed if you know where to look. Search some of your favorite brands on Facebook, many will be giving away free samples if you take the time to like their page and fill out your details, after just a few clicks you could be walking away with a stockpile of discount coupons and freebies to your name.

Online banking

These days almost anything can be found on-line, and it’s no exception for banking. Gone are the days when checking your balance meant a trip to the cash machine, or transferring money had to wait until that trip into town, now anyone can move any amount of money around on-line at will, making saving potential even greater. Many banking sites now have their own forums to discuss savings accounts and help on hand from their on-line staff whenever it is required. You can also set up personal savings goals which can link to alerts on your smart phone, so you can always be aware of how close you are or if a payment needs to be made.

Twitter

One of the most useful financial tools these days is most certainly a owning a Twitter account. Twitter allows you to follow people high in the financial world, and offers the chance to receive up to the minute breaking financial news stories as they happen. @FinancialTimes and @wallstreet tweet the very latest and most influential financial news daily.

What Now?

There seems to be no limit to the capacity of social media these days, use it wisely, and your saving potential could see a significant rise.

Author Bio | Geoffery is a blogger about financial advice -he is a specialist in fixed rate bonds.  In his spare time he enjoys comparing high interest savings accounts, to find out more visit a site like fairinvestment.co.uk – click here now.

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