Maybe Facebook isn't just a waste of time!

7 Ways Facebook Helps You Save Money

by Jeremy Perez

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Facebook is an online social networking service based in California, United States. The Facebook website was launched on February 4, 2004 by Mark Zuckerberg and four other Harvard students. Facebook has grown into one of the biggest social media sites with over 1.65 billion monthly active users. According to statistics, an average American spends up to 40 minutes per day on the website. People usually use Facebook to catch up with friends and socialize, but others know that it is a great platform for saving money.

1. Follow Brands You Like

Facebook's "follow" feature allows users to follow their favorite brands. Following brands is an easy way to save money as several brands are keen on promoting and encouraging followership. These brands regularly post upcoming deals, giveaways, and exclusive offers on their Facebook pages, allowing only their "followers" access to these offers. Some brands go as far as offering coupons to their customers via their Facebook page.

2. Facebook Buy and Sell Groups

Facebook has several buy and sell groups that allow members to easily buy and sell from each other. These groups work in a similar manner as Craigslist except that communication on a Facebook group is much quicker and easier. It is also much safer. You can easily ask questions using Facebook chat, which is faster than email communication. The ease of communication with various sellers enables buyers to score better bargains than when they buy elsewhere.

3. Refer Your Favorite Brands to a Facebook Friend

Several brands offer bonuses to refer friends on Facebook. These bonuses can be used to buy products and services from those brands. There are many people who have thousands of friends on Facebook. Brands like Walmart, Sam's Club, and Groupon offer bonuses when a person signs up from a referral link. All you need is to place your link in your Facebook feed where your friends can see them and click. There are several people who have saved thousands on shopping from their favorite retailers due to their huge referral success.

4. Join Couponing Groups

Joining couponing groups is an effective way to locate coupons to use on favorite brands. These couponing groups have only one mission. They find and share coupons with the members of the group. Couponing groups save you time from doing independent research and ensure that you don't miss out on great deals. Some of these groups offer coupons for several retailers. Others are focused on one retailer.

5. Promote Your Services on Facebook for Free

Facebook-savvy people who have been using the service for a long time and spend a substantial amount of time on it daily have attested to the positive impact Facebook has on their respective businesses. Facebook offers several tools to promote businesses for free. One of them is the Facebook Ads Manager. The Facebook Ads Manager gives you access to all the resources you need to create targeted ads meant to reach your audience. There are several service providers who have used Facebook to promote their services effectively without spending a dime. All you need to do is create a hub for your business. Aside from the fact that this hub serves as a form of advertisement, it allows people who have used your services to post positive comments and reviews on your hub. A positive Facebook review is a proven, effective way to persuade and secure new clients.

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6. Facebook Money-Saving Communities

There are several Facebook pages that are dedicated to sharing information on how to live better with less money. Along with The Dollar Stretcher, you'll find "Money Saving Mom" and "Passionate Penny Pincher." Search for others. These pages share trendy money-saving tips on a regular basis. These pages are good sources of information on how to save more money and live better with less.

7. Save Money with Facebook "Intelligence"

It is a fact that Facebook "intelligence" gathering helps you save money. When you belong to several groups, you read the comments and reviews of individuals in your group and learn from their experiences. Gathering information on Facebook helps you determine what to buy and not to buy, including the best place to buy and places that are out of bounds.

Take the Next Step:

  • Keep your finances on track by visiting our money section where you'll find tools and resources to help you with your finances.
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