Social media doesn’t have to be all bad. While many blogs advise to be careful using social media because it can make you spend more money or have FOMO (fear of missing out). In reality, it can actually help you be better with your money. One of my favorite places to learn all about how others are bettering their finances is Instagram. It has been inspirational, even for a personal finance geek like me. Here are my 5 favorite ways that you can improve your finances with Instagram.
5 Ways to Improve Your Finances With Instagram
This post has been written by our amazing staff writer, Kimberly Studdard.
1) Debt Free Tribe
Did you know that there is a huge debt free community on Instagram? There are so many people who are on their debt free journey, and you can find just about anyone who is on the same path as you.
For example, many people who follow Dave Ramsey know of his 7 baby steps process to financial security. If you’re following his plan, you can type in any hashtag revolving around the baby steps (like #babystep2) and find people from all walks of life who are doing the same.
- single people,
- people living in expensive cities,
- baby boomers, and more…
…all on the same journey to become 100% debt free.
If you’re trying to improve your finances with Instagram, a great place to start is looking at the debt free community and finding people who inspire you or are working towards the same goals as you. These people won’t make you feel inferior or like you’re missing out, but instead, they’ll show you that improving your finances is possible.
2) Zero Waste Movement
You’ve probably heard all about the #zerowaste movement, and for good reason! This is honestly one of the easiest ways to improve your finances with Instagram. The zero waste movement is all about making do with what you have and being more mindful about what you’re throwing away and using. So how does that help you with your finances?
It makes you aware of what you have and what you can do with it.
- Buying items like rice and beans in bulk can save you money and it means less plastic floating around.
- Using veggies on the verge of going bad to make a stir fry instead of throwing them away is helping you use what you have and save money on groceries.
There is a huge zero waste community on Instagram, and there are thousands of posts on how to save money and improve your finances while following a zero waste lifestyle. If you’re someone who loves the environment and wants to better your financial situation at the same time, this community is for you.
3) Budget Grocery Hauls
We all know that one of the easiest ways to bust your budget is to overspend on food. If you’re trying to get that portion of your budget under control, it’s easy to do with Instagram.
- #grocerybudgethaul, or
…and you’ve got thousands of posts helping you shop smarter.
This is one of the best ways to improve your finances with Instagram, because it’s such an effortless way to start. While overhauling your entire budget can seem impossible when you first start, starting with something as simple as your grocery budget builds your momentum and helps you save money quickly. Just by saving $100/month on food can mean $1,200 in savings in one year!
4) Personal Finance Challenges
I love a good challenge, and I know many other people do to. So if you’re trying to improve your finances with Instagram and you love a challenge, you’re going to find so many opportunities!
Some of my favorites have been the…
- #noeatingout challenge,
- the #savemore challenge, and even
- the #52week challenge.
Not only do these challenges help you improve your finances, but they also give you a community that is doing the same. Which brings me to my next point.
Related: The 31 Day Money Saving Challenge
5) The Community
The ultimate way to improve your finances with Instagram is to find your community. They will help keep you on track and hold you accountable. It’s all about who you surround yourself with.
Surrounding yourself with people who do nothing but travel on credit cards and lease cars they can’t afford will either make you jealous or give you an excuse to mess up your finances because “everyone else does it”. By surrounding yourself with people who are trying to improve their financial situation, it will show you that you can do it too, and give you the push to actually chase after financial freedom.
So while some people think Instagram is all about people taking photos of things no one cares about, it’s actually a great way to learn and improve your finances. From pursuing debt freedom to building wealth, there is a hashtag for everyone, no matter their financial situation.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.