Income Hustle: 3 Ways to Make Cash on Facebook

We live in an era where everyone follows weekly unemployment numbers with ever-increasing alarm. Since the coronavirus pandemic began nearly a year ago, weekly unemployment insurance applications averaged anywhere between 750,000 to more than 1 million.

However, one number that people don’t consider much anymore is the average American salary (and for obvious reasons).

As of February 2020, the average American worker made about $48,700 annually after taxes or about $940 weekly.

That salary estimate was calculated a month before the coronavirus pandemic struck. It isn’t a stretch to imagine that this estimate has changed.

It will be hard for many to adjust to the new post-pandemic world order. Jerome Powell, the Federal Reserve Chairman, says that millions of Americans should not expect their former jobs to reappear when the virus is under control.

The global economic shock caused by the pandemic will necessitate businesses to evolve their operating models. Also, Powell said, many pre-pandemic jobs will be obsolete in the post-pandemic world.

This is not to imply that the business world will end, but life will get harder before it gets better. So you must take every opportunity possible to make money in the online freelance economy or side hustles.

You can start with Facebook. Here are three ways to make extra cash on the world’s biggest social network.

The Facebook hustle

The most important thing to understand about making money on Facebook is that the business world has most migrated to the online world. It’s even called e-commerce now.

So, you can use Facebook’s popularity with the world, and business advertisers, to your advantage. Consider these stats:

The point here is that to make money on Facebook, you should understand who you are selling to, what they want, and how you can accommodate that need.

Start or join Facebook groups

You need to think of a service or product to sell on Facebook. To do that, you need to develop a business plan.

One thing that can make your job easier is to know that a typical Facebook group has no limit on membership. You could join a Facebook group with 100 or 100,000 members from different countries.

Peruse Facebook groups by activity, like couponing, parenting, technology, or whatever subject suits your business needs. Take the time to target and develop your online consumer demographic.

Promote yourself via Facebook ads

Facebook is notorious for its advertising retargeting methods. Facebook, along with many other tech companies, employ algorithms and tracking technology that records your online activity.

Then, each time you log online, you will see advertising that matches your previous search engine inquiries. You can use Facebook advertising to promote you’re your service or product in your Facebook groups.

Manage online advertisements for local businesses

There are many local companies that don’t know how to market on Facebook.

If you know how to manage Facebook ads, or are willing to learn, you could manage the advertising for several local businesses on Facebook. This isn’t as hard as it sounds, and you could potentially make money faster this way than selling products in Facebook groups.

Teach yourself how to manage Facebook ads, for yourself or local businesses and you could make a few hundred or thousand dollars monthly.

Recommended Articles

Why You Must Pay Off Your Mortgage Before Retiring

Should you pay off you mortgage before retiring? Only if you want to actually enjoy retirement. A study for government mortgage buyer Fannie Mae showed a growing number of elderly

7 Amazing Credit Card Perks Losing You Money If You Don’t Use Them

Over 25 million people have used their favorite credit card for more than a decade. Yet many are missing out on fabulous credit card perks they could be using every

7 Warnings Signs of a Recession

The 2018 has not been a banner year for the stock market. Warning signs of a recession are becoming more obvious, according to some economists and market pundits. The Dow

Keeping More: How Does a Student Loan Affect Taxes?

Filling out your taxes correctly can be a challenging process, especially for those with student loans. But how does a student loan affect taxes? Many ways, starting with deductions. It

Migraine Pain? Here Are the Best and Worst Foods

Food can be your friend or your foe. Particularly for migraineurs, food can be a serious trigger for a headache, or it can bring a blessed relief from pain. Here

5 Major Money Decisions Before You Retire

It is said that retirement is a lifelong journey and not a destination. For many aspiring retirees, it may be a road to nowhere. Over 22% of Americans have less

Buying a Home? Avoid These 8 Killer Mistakes

Buying is home is not easy. You need to line up credit, decide how much house to buy, find the house, deal with realtors and the sellers. It can be

Body Odor: The Real Reasons Why You Stink

Body odor can be a really embarrassing condition. Unfortunately too many people deal with this common problem by washing more often with antibacterial soaps and body washes, and applying products

4 Powerful Passive Income Ideas That Can Boost Income

Do you enjoy exchanging hours for pay? This form of compensation is common, but most people dread it. What if you could instead get paid whether you work or not?

8 Tips for Efficiently Managing Your Small Business Finances

Managing your small business finances is crucial. Small to medium-sized businesses need financing but they lack enough of it — to the tune of $5 trillion, according to the SME Finance

The One Chart That Could Be a Game Changer for Investors

Allow me to present one chart to you that could indeed prove to be a game changer for investors and financial markets going forward. See below. What are we looking

6 Cultures That Promote Longer Lives and What We Can Learn From Them

Okinawa is renowned for its ability to produce long-living citizens and centenarians, or individuals who live past 100 years of age. What’s their secret? Their bodies age more slowly than