We may all need extra help with our finances from time to time – quite often our incomings aren’t quite enough to cover our outgoings. Wouldn’t it be nice if we could subsidise our income by earning just a little extra to top up our wages?
Social media has become a large part of our lives these days, so here are some tips as to how we can use it to earn extra money too.
If you have skills in a particular area, coaching people remotely can be a great idea, but like everything else, there are plenty of people out there doing exactly the same thing, so you need to ask yourself what makes YOU unique and why people should come to you rather than go elsewhere.
Whether you’re a therapist, a mortgage broker or have other expertise in a given field, you can do a lot of what you would normally do face to face over social media via email, Skype or whichever social media you prefer.
First of all, you need to attract customers by promoting yourself. Once you’ve impressed your followers – blogs are great for this – you can start charging for your services; though be warned, as soon as you mention payment a lot of your followers will lose interest.
If you are already well known in your chosen field, you will have a great advantage over those just starting out. You can always advertise yourself on freelance websites such as peopleperhour.com where people and even companies may be looking for exactly the services you offer.
By becoming an Amazon affiliate, you will earn a commission on everything that is bought via your website, blog or Twitter feed, even if it’s totally unrelated to the services you offer.
If a visitor clicks on your link and buys that product, you receive a small commission which, over time, can really build up to a healthy income.
Do you already post a lot of funny videos or something similar online that go viral? You really should be able to make some extra money by joining the YouTube partner program. This allows Google to place ads at the beginning of your videos and you get a percentage of the revenue from the advert.
There are plenty of stars on YouTube who have been very successful such as Zoe Sugg, known as Zoella, who is watched by millions of people around the world. Of course, not everyone can be successful; it takes a special and rare kind of ability, but if you have a unique angle and a great personality, it’s worth a try!
4. Homemade crafts
You can easily turn simple photos into images of products you have for sale with Instagram and open your own online shop selling your products. Alternatively, partner up with other artisans and sell online as part of a group. Go to Etsy and see just how easy it is to sell your products online. It wouldn’t be realistic to think that you’re going to make your fortune by going down this route, but with enough hard work and by creating products for which there is sufficient demand, there is no good reason why you shouldn’t make some extra money if your products are desirable.
5. Selling eBooks
Once you’ve built up a sizeable following on a particular subject, why not write and publish an eBook? Surely this may prove a mammoth task to some, but if you feel you have the skills, it can be a great and interesting way to increase your cash. You can simply release it as a PDF or through Amazon’s Kindle. Amanda Hocking is 26 years old, has nine self-published books to her name, and sells 100,000+ copies of those eBooks every month. AND she has never been traditionally published! A few people make up to £50,000 a month from the Kindle program alone, but that is the exception rather than the rule. So, as long as you don’t set your sights too high, there is money to be made from self-publishing.
There are many other ways too of earning money from social media – the main thing is to find a subject that you are knowledgeable and passionate about and explore the possibilities yourself.
Social media allows you to make contacts the world over at the touch of a button. The only thing it takes is loads of enthusiasm and determination to succeed.
Of course nearly all of the above ideas take time to get going and sometimes our need for some extra cash doesn’t allow us that luxury.
There are lots of different ways to borrow money; these could include borrowing money from parents or close friends, credit cards, or perhaps a bank overdraft – or just a short term loan to tide us over until the next payday.
The consumer group Which looked into fees charged by high street lenders when customers slip into unarranged overdrafts and found those needing as little as £100 are being charged up to 12 times more by major high street banks than the amount the Financial Conduct Authority (FCA) allows payday lenders to charge when borrowing over the same period!
High overdraft charges mean that “borrowing” £100 from some high street banks costs four times as much as lending from a payday loan company, the report found.
But before borrowing, you should find out about the different options available so you can make a choice about which one is best for you.