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5 Easy Ways to Make Money on Instagram

5 Easy Ways to Make Money on Instagram

With over 300 million users sharing more than 70 million photos and videos each and every day as of January 2015, it’s not all that surprising to realize that several big Instagram users are raking in big bucks from the millions of people who follow them and engage with their posts.

What’s even more inspiring is that most of them are just normal people who stayed persistent with posting and interacting on their accounts to build up their followers over time.

If you love interacting on Instagram and have a sizeable number of engaged followers, or if you’re at least willing to put in the time and effort to start building it up, then there’s no reason why you shouldn’t be able to start making hundreds or even thousands of dollars from this one social platform alone.

There are lots of different routes you can take to start earning, and while they may seem “easy” on the surface, keep in mind that any kind of online income generation strategy takes time and work before you start seeing real results.

Here are five popular options you have to start making money on Instagram relatively quickly if you have great posts and/or a big following.

1. Sell your Instagram photos to brands that want to use them.

Suggested tool: Foap for iPhone and Android

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    If you just love taking photos with your mobile device and consider them to be of pretty high quality before posting them to Instagram, then it’s very possible that you could start licensing your photos to companies that are willing to pay to use them for their own brand building purposes.

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    Foap is a popular online photography marketplace that let’s you do just that. You can sign up for free, create a new user profile, build your portfolio to start attracting buyers, and browse through the “Missions” section for high paying projects that companies are specifically looking for.

    This is perhaps the easiest way to start making money from the existing Instagram photos you have, because you don’t necessarily need to have a huge following to do it. All photos cost $10, and the only major downside here is that Foap takes half of it.

    Payments are delivered to you by PayPal, and since it’s a community-based marketplace, you can browse other users’ photos, follow the ones you like to see their photography in your home feed, and also give and receive feedback. You can check out this user profile for an example of what a typical profile might look like.

    Foap Missions always start at $100 and go up from there, so if your submission is chosen and purchased by the company that launched the Mission, you could earn quite a bit. Just keep in mind you’ll be competing with several other users and their submissions as well.

    2. Earn commissions for selling other companies’ products or capturing leads.

    Suggested tool: Peerfly

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      Selling other companies’ products and services or capturing leads for them is another fast and easy way to start making money on Instagram. Peerfly is a popular affiliate network that allows you to sign up and get started for free.

      Once approved, you’ll be able to browse their current promotional offers listed as “Social” under the “Traffic Methods” tab. You can then sort through the offers by pay, earnings per click (EPC), or click-through rate (CR) to choose something you’d like to promote.

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      All you need to do to start promoting an offer is copy the unique URL and paste it in your Instagram bio’s website section. When other users’ click on it to check it out, you could earn a commission if they decide to enter their personal information (like their email address) or buy something. An example account of someone who’s selling another company’s products is @bookwcrms — T-shirts, in this case.

      What’s great about a network like Peerfly is that you can easily earn a few bucks just for capturing leads, which is much easier than making sales.

      You may have to request approval from Peerfly first before you can start promoting, however, but getting approved is usually no problem. Make sure you stick to the offers listed under the social traffic methods only, since Instagram is a social platform.

      3. Capture email subscribers and refer them to affiliate links (or your own products).

      Suggested tool: MailChimp

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        If you do pretty well with capturing leads for an affiliate or CPA network like Peerfly, you might want to consider building your own email list of leads. MailChimp is popular email list-building service that lets you gather up to 2,000 email subscribers for free. You can also create and schedule emails to be sent out to your subscribers, which you can use to send them purchase links to affiliate products or even your own products that they may be interested in buying.

        MailChimp is a fantastic tool to choose for this, because it lets you easily build your own landing page forms and email templates so you can make it look and say exactly what you want. Once you have your landing page set up, you can simply copy and paste the URL into your Instagram bio’s website link

        Instead of sending leads to another company’s email form, you’ll be sending them to your own. A good example to check out is @home_business_profits, who’s currently sending people to his own email submit form in the website section of his profile.

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        You won’t make a couple bucks for every user that signs up, but you’ll have the ability to keep in touch with subscribers by email, build a relationship with them, and sell to them again and again as long as they decide to stay on your list.

        MailChimp makes it easy for beginners to get started, but if you end up collecting 2,000 subscribers or maybe want more options to interact with your list, you may need to sign up for one of MailChimp’s premium packages.

        4. Join a multi-level marketing company to build your own team of network marketers.

        Suggested tool: Team Beachbody

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          Instagram is a very open and social place to show off visual content, making it a premiere platform for inspiring people and making lots of new friends.

          There are countless network marketers who have built solid businesses through Instagram alone, selling the products of the MLM companies they’re promoting to users who love looking at their photos or videos. Many of them even end up bringing on new people they meet on Instagram to join their teams.

          Since there’s such a massive fitness community that’s so incredibly active on Instagram, Team Beachbody is a good MLM company to consider working with.

          You can easily start posting photos of your healthy meals, your workout routines, and anything that might offer inspiration or motivation to followers who want to get in shape. Don’t forget to provide the URL in your bio to your network marketing website or product link, and make sure to include some contact information in case users have questions.

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          There are tons of accounts out there to check out how it’s done, but a popular one in particular you can check out is @mindywender, specifically for Team Beachbody network marketing.

          Network marketing on Instagram may not be as easy as some of the options presented above, but if you’re a hard worker and avid user of the products you’re promoting, it can quickly become a very lucrative home business.

          The major downside here is that most MLM companies require you to invest in a starter package and/or monthly fees to stay active and promote their stuff. On the upside, you’ll be placed under another team member who can help you start earning and building your own team.

          5. Connect with advertisers that are willing to sponsor influential Instagram users.

          Suggested tool: The Mobile Media Lab

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            This last Instagram money-making tactic is really only easy if you’ve got the followers and engagement to show for it. So if you’re someone who has ideally tens of thousands of followers or more, and you can rack up lots of likes and comments within minutes of posting, then you may be in good position to try getting at least a few good sponsorship deals from companies that would be willing to pay you to promote their brand to your audience.

            You could reach out to companies’ marketing departments directly, or you could try applying to The Mobile Media Lab instead — a creative agency specifically focused on bringing influential Instagram users and advertisers together.

            If chosen, you could easily start earning hundreds or thousands of dollars for a single post that features a product from big brands like Coach, Expedia, Timex, Puma, and others. @weworethat is a massively popular Instagram account that pulls in over six figures in sponsorships from apparel and accessory companies that want their products featured on her account.

            Making money here is the easy part — building a huge, loyal following is obviously not so easy. The good news is you may be able to score a few smaller sponsorships even if you have below 100,000 followers. The Mobile Media Lab has a sign-up form to apply to work with them, but given that they’re only interested in working with the most influential Instagram users, there’s no guarantee you’ll be approved.

            Instagram has really opened up some new doors for business owners and entrepreneurs all over the world. Whether you’re just a student looking to make a few extra bucks on the side, or the CEO of an international company looking to build its brand and reach a new audience, Instagram can help you do it.

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            Elise Moreau

            Elise helps desk workers lead healthier lifestyles. Visit her website on her profile to get a free list of health hacks.

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            Last Updated on August 20, 2019

            How to Set Financial Goals and Actually Meet Them

            How to Set Financial Goals and Actually Meet Them

            Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

            In this article, we will explore ways on how to set financial goals and then actually meet them with ease.

            5 Steps to Set Financial Goals

            Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:

            1. Be Clear About the Objectives

            Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.

            It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.

            Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.

            2. Keep Them Realistic

            It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.

            It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.

            3. Account for Inflation

            Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.

            Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

            For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

            4. Short Term vs Long Term

            Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.

            As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.

            More on this later when we talk about how to achieve financial goals.

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            5. To Each to His Own

            The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

            It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

            By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.

            11 Ways to Achieve Your Financial Goals

            Whenever we talk about chasing any financial goal, it is usually a 2 step process –

            • Ensuring healthy savings
            • Making smart investments

            You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.

            Ensuring Healthy Savings

            Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.

            This is the focal point from where you start your journey of achieving financial goals.

            1. Track Expenses

            The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

            Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.

            2. Pay Yourself First

            Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

            Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.

            The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.

            Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

            3. Make a Plan and Vow to Stick with It

            Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

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            Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

            At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.

            Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

            You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

            4. Rise Again Even If You Fall

            Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

            If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

            Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

            All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

            5. Make Savings a Habit and Not a Goal

            In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

            Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:

            Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

            If you are travelling buff, try to travel during off season. Your outlay will be much less.

            If you go out for shopping, always look out for coupons and see where can you get the best deal.

            So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.

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            6. Talk About It

            Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.

            Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

            7. Maintain a Journal

            For some people, writing helps a great deal in making sure that they achieve what they plan.

            So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

            Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

            When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.

            At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

            Making Smart Investments

            Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

            8. Consult a Financial Advisor

            Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.

            Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.

            9. Choose Your Investment Instrument Wisely

            Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

            Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.

            Do you remember we talked about bifurcating financial goals in short term and long term?

            It is here where that classification will help.

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            So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.

            10. Compounding Is the Eighth Wonder

            Einstein once remarked about compounding,

            Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.

            So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

            Start investing early so that time is on your side to help you bear the fruits of compounding.

            11. Measure, Measure, Measure

            All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.

            If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

            If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

            Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

            The Bottom Line

            This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

            As you can see, all it requires is discipline. But guess that’s the most difficult part!

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            Featured photo credit: rawpixel via unsplash.com

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