Can Using Facebook Make You More Money Savvy?

The era of social networking has truly arrived when more Facebook users are grandmothers than college students! But what started out as a way to connect with friends from your school or to keep up with people from high school has morphed into a totally new way to shop – and to save money!

Yes, you can use your totally free Facebook account to save money, mainly by spending your money more wisely.

There are a few things you can do on Facebook to save money directly. For instance, you can print of coupons from retailers and companies you like. You can also become privy to certain deals that companies only offer to their Facebook fans. Becoming a fan of too many companies can clutter up your daily feed, but it can also help you save tons of money over time.

If you like this article, you might be interested in some of our older article on Facebook Pages Design, Find Customers & Find Employees On Facebook, and How Should A Web Designer Use The Services Of Social Media?.

Another way to directly save money on Facebook is to work through Facebook’s Marketplace to find used items for sale from friends or friends-of-friends. It works a little like Craigslist, but there’s less anonymity, since Facebook will only search people in your circle of friends. The Marketplace is a two-way street, as well. You can also use it to sell items so you can make money!

But, as you probably know, saving money and spending money more wisely are a little bit different. In the long run, choosing to spend your money where it really counts can make a huge difference in the way your budget works. Because of social networking tools like Facebook, you can more easily be savvy with your money.

Here’s How it Works

Back in the day when your grandma was young and lived in a small town or a certain city neighborhood, friends recommended products and services to friends all the time. Businesses grew by word of mouth because people weren’t bombarded by advertisements every minute of their lives.

In the last couple of generations, though, people have begun to rely more on advertisements simply because there are so many of them. The average person is hit with hundreds of advertisements a day and millions of them in a year. Even if you’re a bit of a skeptic, all that money spent on advertising is sure to make a dent in the way you choose to spend your money.

Today’s Generation X, though, is starting to get a bit savvier about advertisements. This generation sees how they work, and that advertising isn’t really about the best product, but is more about the best advertisement writers and actors. Because of this generation’s skepticism, older generations are starting to follow suit.

Let’s face it, we’re all tired of overblown advertisements that are often blatantly untrue.

So where do we turn to figure out which products and services will work best for us? Back to our friends, of course! Only now, instead of exchanging the names of local hairdressers and plumbers with two or three neighbors over front yard fences, now we’re exchanging the names of worldwide and local companies over huge social networks.

Social networking sites like Facebook are great for getting and giving recommendations about the best places to eat, shoes to buy, clothes to wear, and places to save on everything from a car to cat food. There are several different ways to get recommendations from your friends through Facebook.

  1. Check out what your friends “Like.” Just go to a profile, and see which companies are in your friend’s list. It’s pretty logical to figure out which friends’ profiles to look for which types of companies on. Are you a mom looking for the best cloth diapering company out there? Check out the Facebook profiles of other modern moms who might use cloth. If you’re looking for a local lawn company, look at the profiles of friends you know locally.
  2. Ask! One of the best ways to get recommendations on Facebook is to simply ask. If you have as many Facebook friends as the average person, your status updates pop up on tons of Facebook feeds every day. Before you go get your dog groomed or your car repaired, query your friends. “Where’s the best place to go for X?” or “I need a great dog groomer for cheap. Any suggestions?” Chances are that people will reply, particularly if they know about businesses in your area that they really like.
  3. Search for businesses. If you’re looking for something specific, you can search for businesses, either by name or, sometimes, by the type of business. Let’s say you’ve heard about a florist called “Flower Power” but aren’t sure what their prices and designs are like. Search for them on Facebook. If they’ve kept up with the times at all, they’ll have at least a minimal Facebook profile. Then, check out comments that other people have made for and about the business. Keep in mind that Facebook page content can be somewhat controlled, but, still, you can get a good idea of who likes the business and why just with this simple search, which is much more telling than simply landing on the business’s home page.

As you can see, there are several ways Facebook can make you more money savvy. In fact, businesses are starting to put more time and energy into developing Facebook profiles and less into developing gimmicky ads. Don’t trust the ads. Trust what your friends say about products and services through Facebook and similar social networking sites!

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