Making money online: I will show you how you can make fast money online

 


Making money online: I will show you how you can make fast money online

How to Make Money on YouTube: 10 Popular Strategies

Are you an avid fan of creators on YouTube? You’re probably wondering how you can get a slice of that lifestyle and use the platform to bring in some money for yourself.

In this guide, we’ll cover 10 ways to make money on YouTube through its official monetization options and without them, plus how much money you can make, how to get started if you haven’t set up a channel yet and how to grow your audience through savvy marketing.

In This Guide: Six Main Things to Know

First: Benefits of Making Money on YouTube


Monetizing a YouTube channel is a way for creators, entrepreneurs, freelancers and educators to build an audience and a brand, and create new income streams.

Residual income is a great thing about making money from YouTube videos. You can put in the effort to gain traction with a YouTube channel for a brief period and continue to generate (a little or a lot of) income for years to follow, even if you don’t post new videos as actively.

Starting a YouTube channel is also a great way to turn your hobbies or interests into income.

You can create content and build an audience on just about any subject — from travel to web design to toy reviews — and monetize it creatively. It could be a way to fund your trips, attract new clients or get free products.

Second: How to Make Money on YouTube Through the Partner Program

YouTube offers monetization features built into the platform for creators who meet requirements through its partner program.

What Is the YouTube Partner Program?

For many YouTubers, ad revenue through the YouTube Partner Program (YPP) is the first step to making money on the platform.

YPP lets creators earn money by sharing a piece of the revenue generated from ads running on their videos. YouTube can run ads on any content posted to its platform, but you can only earn money from those ads if you’re in the program.

To be eligible for the YouTube Partner Program, your channel must:

Have more than 4,000 watch hours (total time spent watching any of your videos) in the past 12 months.
Have more than 1,000 subscribers.
Be linked to a Google AdSense account.
Follow YouTube’s monetization policies, including community guidelines and AdSense program policies.
YouTube also recommends you set up two-step verification for your Google account to avoid delaying the review process.

To apply to become a YouTube partner and monetize your channel:

Confirm your channel meets the eligibility criteria of 1,000 subscribers and 4,000 watch hours; and that none of your content violates community guidelines, which doesn’t allow things like nudity, hate speech or deceptive practices.

Review and sign YPP terms. You’ll find those in your YouTube Studio under Monetization.
Sign up for Google AdSense. You can do that through the monetization section of YouTube Studio. It gives you the option to connect an existing AdSense account or create a new one.
Go through the review process, which typically takes about a month. YouTube specialists and an automated program review your channel content to confirm it follows the guidelines.
If you’re approved during the review process, you’ll have access to YouTube’s built-in monetization features. Which features you’re able to turn on for your channel depend on meeting feature-specific requirements, like number of subscribers and location.

  Age Subscribers What It Is Ad Revenue 18* 1,000 Share proceeds from ads on your videos. Channel Memberships 18 >1,000 Charge fans for a premium monthly subscription. Merch Shelf 18 >10,000 Promote your brand merch on your watch pages. Super Chat and Super Stickers 18 n/a Let fans pay to have their messages highlighted during live streams. YouTube Premium Revenue n/a n/a Share YouTube Premium membership fees when members watch your videos.
*Kids can monetize through AdSense if they have a legal guardian over 18 years old to manage the AdSense account.

1. Ad Revenue

As an approved partner, you can earn money from ads that run automatically on your YouTube videos. You split the revenue with YouTube, and ads could appear as:

Display: Only on desktop, these ads sit at the top right of the screen, next to your video being played and above the “up next” list of suggested videos.
Overlay: Also only on desktop, these ads pop up like a banner ad at the bottom 20% of a video display.

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Video: These are video ads (super-short commercials) that play before or in the middle of your video (i.e. “pre-roll” or “mid-roll”). They can be skippable after five seconds, non-skippable and run for 15 to 20 seconds, or bumper ads that run for six seconds.
To be eligible to earn ad revenue, you have to meet YouTube’s advertiser-friendly content guidelines, which means your videos can’t include:

Inappropriate language
Violence
Adult content
Shocking content
Harmful or dangerous acts
Hateful and derogatory content
Recreational drugs and drug-related content
Firearms-related content
Controversial issues
Sensitive events
Incendiary and demeaning
Tobacco-related content
Adult themes in family content
YouTube explains these guidelines in more detail, including tips to help you review your own content for compliance, and it notes the importance of context — like, sex ed videos can contain some sexual content and music videos might be OK with profanity (‘cause YouTube’s more like your cool aunt than your strict father).

Note that advertising guidelines — designed to protect advertisers from shilling their products alongside problematic content — are different from community guidelines. Community guidelines are designed to protect viewers from problematic content, and your videos need to meet those standards to be published on YouTube at all.

2. Channel Memberships

You could sell channel memberships to your loyal fans if your channel has more than 1,000 subscribers and your channel isn’t set as “made for kids.”

Channel memberships let fans pay a monthly fee to access perks like emoji, badges; and exclusive content like Community posts, videos and live streams.

Badges are a way for fans to show off their loyalty to your brand — they’ll display how many months someone’s been a member. Custom emoji let viewers react to your videos during live chats.

To start selling channel memberships, your channel has to have a Community tab, which is like a mini social media feed inside your main YouTube page where you can post and invite comments from fans.

3. Merch Shelf

Design merchandise, like T-shirts, coffee mugs, hand towels or whatever you fancy, to let your biggest fans show off your brand.

With more than 10,000 subscribers to your channel, you could use this feature to facilitate merchandise sales directly from YouTube.

To sell merch through YouTube, you have to set items up with a supported retailer first. That includes sites like Design by Humans, Fanfiber and Merchbar. You’ll turn on merch features and connect your retailer through the monetization section in YouTube Studio.

You can display your merch shelf for your entire channel or turn it on and off for individual videos. You can also add a Store tab to your channel’s home page, pin an item to a live stream or feature merch on video end screens.

4. Super Chat and Super Stickers

Anyone can start a YouTube live stream to connect with viewers in real time for an event or class. Live chat is automatically available for viewers to comment during any live stream.

Viewers can purchase a Super Chat or Super Stickers during a live stream to stand out in the live chat stream. Super Chat lets them have their messages highlighted, and Super Stickers let them send animated messages that pop up in the feed.

If you have a super engaged audience with fans who are eager to get your attention — and stand out among other fans — Super Chat and Super Stickers could help them get their message across.

5. YouTube Premium Revenue

YouTube Premium is YouTube’s paid subscription streaming service for users. It lets users pay a monthly fee to watch videos without ads and access perks like YouTube original content, downloads and background play.

As a YouTube partner, you can earn a cut of the revenue when a YouTube Premium member watches your videos (since, you know, they’re not watching ads on your videos). Premium payments are dolled out based on how much members watch your videos.

Third: How to Make Money on YouTube Without the Partner Program

You don’t have to monetize your videos on YouTube to earn money from YouTube content. Creators have found lots of innovative ways to get paid for the content they create and the audiences they build through YouTube.

These strategies could be good options for big channels or those with less than 1,000 subscribers who aren’t eligible to monetize through YPP.

6. Fan Funding

A popular option for online content creators in any genre, paid membership programs like Patreon, Tipeee and Buy Me a Coffee let creators build and monetize a community.

You can publish your YouTube videos without monetizing through the partner program and instead invite your fans to send you a tip or subscribe for a paid membership through a third-party site.

Patreon: Set monthly membership levels — like $3, $6 and $12 — with varying access to perks like exclusive videos, audio or newsletters. Members subscribe and access content through the Patreon platform, and Patreon keeps 5% to 12% of fees depending on the service plan you choose.

Tipeee: Make a creator page, and invite fans to tip any amount they want one time or as a recurring contribution. You can include perks for tippers to choose, but those aren’t tied to contribution amounts.

Buy Me a Coffee: Create a simple way for supporters to tip you for your creations through PayPal or a credit card. You can also add on a monthly membership option with exclusive perks at a price you set. For pages with a membership option, you can create posts (similar to Patreon); for support-only pages, your page just shows a feed of supporters.
7. Influencer Marketing

If you’ve got an audience that looks to you for recommendations on products, brands, events, activities or anything else, you could get paid by brands to create sponsored content.

You don’t have to have an enormous audience to make money through influencer marketing, but you should have a loyal, engaged audience. How big it needs to be for you to make money depends on the size and focus of your niche — a YouTube channel about using Google Sheets could monetize a much smaller audience than one about video games.

Depending on what you’re promoting, sponsored content is usually a review, how-to, overview or story about a product, service or brand.

It helps introduce your viewers to something a company wants to sell, but without the hard sell of a commercial or ad. Brands work with you because your audience trusts you and naturally wants your recommendations.

You can connect with brands by getting noticed through relevant hashtags, reaching out directly or connecting through an influencer marketplace like:

Grapevine Logic: Sign up with a minimum of 10,000 YouTube subscribers to develop marketing campaigns with support from Grapevine Logic staff.
YouTube BrandConnect: YouTube is rolling out its native influencer marketing program to select channels to help creators connect with brands. To be eligible, you have to be part of the YouTube partner program.

Channel Pages: Add your channel details to this network to help brands find you through search results. Brands search the network and reach out to you if your channel looks like a fit for their campaigns.
8. License Your Content to Media Outlets

If a video on your channel gets a lot of traction or  🙌 🙌 🙌  goes viral — or just contains content other outlets might find valuable — you could earn money selling media outlets the right to publish it on their own channels.

This is different from a site’s ability to embed your YouTube video in their content or share it on social media — you get credit for all those views and potential ad revenue.

Licensing your content lets those sites republish the content natively, within the limits of the license.

If a video goes viral, you could have media contacting you for the rights to use it. If you want to be proactive about licensing your content, you can list your videos through sites like Jukin Media and ViralHog to connect with outlets and get help managing your licensing deals.

9. Promote Your Products or Services

Sharing free content and growing a community through YouTube is a great way to establish your expertise and grow a business selling things like coaching, courses or freelance services.

For example, if you’re a website designer who specializes in Squarespace sites, you could host a channel of how-to videos showing viewers how to use various functions of Squarespace.

Your videos would show up when users search for Squarespace related questions on YouTube and Google, and you could build a community of people who trust your expertise and come to you first when they need to hire web design help.

Get creative to apply this strategy to your business — you have tons of options. Here are a few ideas:

Demonstrate your expertise. Create how-to and explanatory videos that address common questions your target customers have about the kind of service you offer. Optimize them for search to help people find them when they have questions.


Showcase your brand. Record yourself answering viewer questions or preaching your philosophy to help potential customers get to know what you’re about.

Network and spread your influence. Interview experts for a talk show or video podcast to get to know important people in your industry and get yourself in front of their audiences.
Promote your projects. Use your YouTube channel to showcase your upcoming projects and garner support from fans. For example, share movie trailers, book cover reveals, or customer testimonials for your services or programs.
10. Affiliate Marketing

You can earn money by promoting other companies’ products or services without creating sponsored content. If you naturally mention products or brands in your content, join affiliate programs and share your links in the video description.

When viewers click on your link, buy the product or sign up for someone’s email list, you get paid.

Affiliate marketing is an especially good fit for instructional videos. As you teach viewers how to do things (like use Squarespace, as I mentioned above), you’ll naturally mention brands and tools you love and recommend. Affiliate marketing lets you get paid when viewers follow your recommendations.

If you’ve got a large following online, you might be able to connect with companies directly to strike affiliate deals. But most affiliate marketers use affiliate networks to benefit from deals companies are offering any creators who meet their qualifications.

You can find affiliate opportunities through networks including:

Fourth: How Much Money Can You Make on YouTube?

How much you can earn from YouTube videos depends on a lot of factors. The most obvious is how many video views you get — but even the question of how much you’ll get paid for those views is an elusive one.

The share of revenue you earn per ad view depends on the terms of your partner program terms agreement with YouTube. That share can vary by creator, and the amount can vary per ad.

Most reports say creators earn around $18 per 1,000 ad views, which works out to around $3 to $5 per 1,000 video views.

But there’s no perfect data on what YouTubers are actually earning, just a lot of individual anecdotes mixed up with headline-grabbing earnings reports from YouTube stars.

Examples of Successful YouTubers

To give us an idea of what kind of content pops on YouTube, Forbes has been tracking the estimated earnings of YouTube stars for the past few years. Here are the top earners Forbes reported for 2020.

Name What They Do Earnings 6/1/19 - 6/1/20 Views 6/1/19 -6/1/20 Subscribers as of Dec. 2020 Ryan Kaji Children's unboxing videos $29.5 million 12.2 billion 41.7 million MrBeast (Jimmy Donaldson) Stunts and humor $24 million 3 billion 47.8 million Dude Perfect Sports and comedy $23 million 2.77 billion 57.5 million Rhett and Link Sketch comedy $20 million 1.9 billion 41.8 million Markiplier (Mark Fischbach) Video game breakdowns $19.5 million 3.1 billion 27.8 million Preston Arsement Minecraft and other gaming videos $19 million 3.3 billion 33.4 million Nastya (Anastasia Radzinskaya) Children's vlog $18.5 million 39 billion 190.6 million
Of course, you don’t need to earn tens of millions of dollars to be considered successful in any job, especially if you’re just looking for a side gig.

Here are a few other folks who’ve found more attainable success on YouTube over the years:

Gabby Wallace, who teaches English as a second language through her channel Go Natural English, told The Penny Hoarder she earned $120,000 in one year through YouTube ad revenue, sponsorships and selling courses with about 100,000 subscribers on YouTube. That was a few years ago — Wallace has more than 2 million subscribers now!

Franchesca Ramsey, a.k.a. Chescaleigh had been steadily building her following and side income on YouTube before her viral video, “Sh*t White Girls Say to Black Girls,” pulled her into the spotlight in 2012. She was hired by MTV to do the web series “Decoded” a couple years after that, then became a writer on Comedy Central’s “The Nightly Show with Larry Wilmore,” and she published a book about her experience in 2018.

Entrepreneur Marie Forleo has been hosting her YouTube show for entrepreneurs and creatives, MarieTV, for a decade. She started with a webcam at her kitchen table and has built a following of more than 700,000 subscribers. She doesn’t monetize directly on YouTube and instead uses the platform to build an audience and sell her online programs, including B-School, which has had more than 64,000 students since its launch in 2010.
Fifth: Brand New to YouTube? Here’s How to Get Started

In case you’re drooling over the possibilities but haven’t even started a YouTube channel, here’s a quick guide to getting started as a YouTube creator.

Choose your niche. What kind of content do you want to create? Funny, educational, thought-provoking or instructional. The possibilities are limited only by YouTube’s guidelines, which basically say you can’t post pornography or anything super offensive. Your subject can also help you determine your channel’s name (if you don’t use your own name).

Set up your production. You’ll need a camera, obviously. You can shoot a YouTube video on something as simple as a smartphone or webcam, or go for a full studio set up with a camera, lights and microphones. Our recommendation? Start small and simple, and build as you need to.

Create a channel. You have to have a Google account to be active on YouTube (assuming you’ve already got that part covered). Then you can create a channel just by signing into YouTube and clicking “create a channel” under your profile picture.

Verify your channel. Enter your phone number to get a verification code to let YouTube know you’re real. You can upload videos limited to 15 minutes long without getting verified — but this step is super easy and comes with perks, so we recommend it.

Upload videos! That’s all it takes. You’ll upload videos and see analytics for your channel via YouTube Studio, right in your YouTube account.
Once you’re set up, your biggest challenge to monetizing is going to be growing your audience — so brush up on some YouTube marketing basics.

Sixth: YouTube Marketing Basics to Grow Your Audience (and Income)

YouTube’s Creator Academy is a comprehensive resource for best practices and tips to polish your content, grow your audience and keep viewers engaged. Peruse tons of free lessons to learn how to grow your channel and make money on YouTube.

Here are a few basics every creator should know:

Learn YouTube SEO

Part of the Google (Alphabet) family, YouTube is as much a search-based platform as a social one. Tons of generally unknown creators get millions of views and earn significant revenue on YouTube because viewers find their videos through Google or YouTube search.

You can learn endless tips and tricks to optimize YouTube videos for search, but here’s what every creator should keep in mind from the beginning:

Video content: If it’s a fit for your niche, create videos around what your target audience wants to know. Take frequently asked questions, and turn your answers into content.

Video title: Write clear, descriptive titles that make people want to click to learn more. Do a little research to choose keywords relevant to your video, and put a strong one in the title.
Video descriptions: Include keywords and a good overview of the video in the video description to help YouTube’s algorithm know what the video’s about.
Keep Posting New Videos

YouTube likes fresh content and active channels, so posting new videos regularly can help your content show up in searches and suggested videos.

Older videos with lots of views and engagement might continue to get search traffic and generate passive income for you, which is great. You can supercharge your income by keeping your channel active and giving YouTube plenty of fresh content to recommend to viewers.

Create Engaging Content

What YouTube loves more than anything is content that viewers click on, share, like, comment on and follow to another video. Engaging content keeps viewers on the platform, so the algorithm rewards it.

It’s also good for your viewers and your brand!

Think of your audience with everything you create. Even if your content is a vlog about your life, think about what they’ll get out of each video before you record it, and work to produce a video that’ll achieve that end.

Ask questions to invite comments, and encourage viewers to seek out your other videos and subscribe to your channel.

Ready to Make Money on YouTube?

Starting a YouTube channel can be a smart step toward creating a side hustle to generate extra income — or, eventually, a new full-time job — for yourself.

Few successful creators make the bulk of their money through the YouTube partner program, but signing up and taking advantage of some of the monetization options could be a simple way to get started.

As your audience and business grows, you can diversify your income by adding sponsored content and affiliate marketing, licensing your content or promoting your business’s core products and services.

Like any other side hustle or business, YouTube isn’t a way to make money fast, but it can be a fun way to get creative, connect with an audience and boost your income.

Dana Sitar (@danasitar) has been writing and editing since 2011, covering personal finance, careers and digital media. She is a regular contributor to The Penny Hoarder.

This was originally published on The Penny Hoarder, a personal finance website that empowers millions of readers nationwide to make smart decisions with their money through actionable and inspirational advice, and resources about how to make, save and manage money.

5 ways to double your money

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Are you looking to double your money? With interest rates so low, it's hard to use a bank account to make any significant amount of money these days.

CONSTELLATION BRANDS, INC.

In order for investors to potentially double or even triple their money, they'll often have to take on some risk for that potential reward.

To achieve this level of returns over time, there are a number of options that come with limited risk. Meanwhile, those looking to shoot the lights out have their share of high-risk, high-reward options to choose from, too.

Below are five possible ways to double your money, ranging from the low risk to the highly speculative.

1. Get a 401(k) match
Talk about the easiest money you've ever made! It does not get any easier or lower risk to double your money than by taking advantage of an employer match on a 401(k) account. Then you can stick around and use the plan's tax benefits to grow your retirement savings.

Many employers give employees money just for contributing to their own retirement account. For example, employers may match a small percentage of what you add to the account - so you put in 5 percent of your salary, and your employer adds another 5 percent. That's the easiest, lowest-risk way to make money, and you still get all the great benefits of a 401(k) plan.

If there's a downside, it's that some companies do require you to remain employed for a certain period of time, often three or four years, before those matching funds are fully vested.

This 401(k) calculator can help you figure out how much wealth you can build for retirement.

2. Invest in an S&P 500 index fund
An index fund based on the Standard & Poor's 500 index is one of the more attractive ways to double your money. While investing in a stock fund is more risky than a bank CD or bonds, it's less risky than investing in a few individual stocks. Plus, the S&P 500 is composed of about 500 of America's largest and most profitable firms, so it's a strong option for long-term investing.

The S&P 500 also has an attractive long-term return, averaging about 10 percent annually over long periods. That means that, on average, you'll be able to double your money in just over seven years. That said, the return in any single year is likely to be much different - higher and lower - than the average. And the S&P 500 can go through long losing streaks too. For example, the index had a negative return during the 2000s. The S&P 500 made up for it in the 2010s, returning 252 percent.

It's easy to buy an S&P 500 index fund and you don't need a lot of expertise to invest this way.

3. Buy a home
Real estate may not seem like a way to double your money quickly, given its reputation for slow-and-steady gains rather than explosive growth. But if you look at how most transactions are structured using a mortgage, you'll quickly see that buying a home could lead to a double up.

It can actually be relatively easy to double your money by buying real estate. That's because homebuyers often rely on the power of leverage - that is, a mortgage - to make the purchase.

For example, imagine buying a $200,000 home with a 20 percent down payment, as is typical. You'll put down $40,000 (and we'll exclude closing costs and similar expenses). How much must your home value increase for you to double your money? Just 20 percent. When your home increases in value to $240,000, you'll have the original down payment of $40,000 plus a capital gain of $40,000 for a total gain of 100 percent. That's the power of leverage.

Of course, unlike other investments here, you'll be forced to invest further money to keep your home in good repair, keep current on property taxes and continue paying down the mortgage. That means further outlays of money, but otherwise you'd have to pay rent, and you get upside by owning.

4. Trade cryptocurrency
The volatility of cryptocurrency - whether it's Bitcoin, Ethereum or Dogecoin - is an opportunity for speculators to make money trading. Of course, it's an opportunity to lose money as well, but that's always part of the trade-off if you're looking to double your money quickly.

While many cryptos have soared over the last year, they can bounce around significantly, making it tough to hold on when they fall. It can be easy to buy high and sell low and bail out when prices crash, and you'll end up putting money in someone else's pocket instead of yours.

It's easy to lose money on cryptocurrency if you can't manage your positions, and there are much easier and lower-risk ways to double your money.

5. Trade options
Trading options is one of the fastest ways to double your money - or lose it all. Options can be lucrative but also quite risky. But to double your money with them, you'll need to take some risk.

The biggest upsides (and downsides) in options occur when you buy either call options or put options. You could make two, three or four times your money or more. Here's a quick overview of the two major kinds:

A call option gives you the right, but not the obligation, to purchase a stock at a specific price by a specific date, at the option's expiration.
A put option gives you the right, but not the obligation, to sell a stock at a specific price by a specific time, at the option's expiration.

You'll pay a price to own an option contract, and that premium could increase many times in value. The downside is that the option could expire completely worthless. So you won't want to risk all your money on the single throw of the options dice.

Traders also have the choice of lower-risk but less-lucrative options strategies, too. And while you're at it, there's no reason not to minimize your trading costs by going with a top broker.

How soon can you double your money? Look to the Rule of 72
Everyone wants to know how soon they can double their money. There's actually a simple trick that allows you to quickly estimate when you can double your money. It's called the Rule of 72.

The principle is simple. Divide 72 by the annual rate of return to figure how long it will take to double your money. For example, if you earn an 8 percent annual return, it will take about 9 years to double. So the higher the return, the faster you can double your money.

But remember it's an estimate, so your number will give you only an approximate number. Plus, the bigger issue is if you're investing in financial markets, your return will vary significantly from year to year. So your returns are likely to be much more lumpy each year than the averages.

Bottom line
If you're looking to double your money in any reasonable time frame, you'll need to take some risk. You simply won't be able to earn enough from safe bank products to reach that goal. Above all, it's important to remember that you don't have to make the riskiest trades - ones that look more like gambling than investing - to build your fortune. You do have high-return options that can limit (but not eliminate) your risk, such as a house, S&P 500 funds and 401(k) matching.

Learn more:
Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

This Financial Expert Canceled Her Amazon Prime Account. Here’s How She Shops Instead

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Editorial Independence
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Amazon Prime Day is fast approaching — the retailer announced the mega-shopping event will take place on June 21 and 22 this year — but not everyone is excited about it.

After all, that fast, free shipping for Prime members throughout the year comes with a cost, and some have been ditching Amazon altogether in response. 

Take, for example, Shang Saavedra, a financial educator who’s known online as Save My Cents. She says she uses Amazon from time to time, but doesn’t have a yearly $119 Prime membership. 

For Saavedra, the word “prime” doesn’t just refer to the prices and product selection. “I think Prime primes you to spend more knowing that you have that subscription. It automatically puts the mindset to ‘I can get this the next day, let me just go buy it,” she says. 

Saavedra had a Prime membership from a student discount back in 2012, but let it expire and never renewed it until October 2019, after the birth of her son. That’s when she tried Prime one more time, she says. She thought it may be helpful because of the new baby and all the purchases that come with raising a child, but she ended up canceling it again after about a month.

Rethink How You Shop
Prime, Saavedra warns, can lure you to spend outside your means.

By not having Prime, Saavedra says it encourages her to consider if she really needs something before she buys. “Over time, I realized that I’m very purposeful in what I plan to buy,” she adds.

Nowadays, Saavedra plans in advance what she needs to buy so she can hit the $25 minimum to qualify for free shipping on Amazon — without the Prime membership. This is one way she is able to remain intentional about the goods she is buying, and to avoid buying things for the sake of buying on Amazon. It’s a strategy others can easily adopt, as well. 

The same sentiment applies not only to goods and products you can order on Amazon, but for its streaming services, as well. “My husband and I are very intentional about the media we consume,” Saavedra says. Paying for multiple streaming services is all too familiar for many Americans, but Saavedra says they’ve found it more cost-efficient to simply rent a movie every month or so.

Amazon Isn’t the Only Place You Can Get Deals
And then there’s the fact that Amazon is far from the only retailer that sells plenty of essentials. 

“Other retailers have also built up their third-party marketplaces,” Saavedra says. Target and Walmart, for example, recently announced their own version of Prime Day to compete with their biggest online rival. Here at NextAdvisor, we saw some solid deals from competitors during last fall’s Prime Day.

Pro Tip
If you are looking to take advantage of Amazon Prime Day, be sure to check out our best advice on how to save money on your purchases.

In fact, shopping around between these retailers could help you save some cash, as well. At time of publication, a TCL 50” TV costs $349.99 on both Amazon and Walmart, but $429.99 at Target, so it can’t hurt to do a quick check to see if you’re getting the best price on your items. At the very least, it isn’t always a given that Amazon has the best price on something.

Life After Prime
Removing the simple convenience of a Prime membership — and the fast, free shipping that comes with it — has given Saavedra more opportunity to truly consider a perceived need before buying.

“By not having Prime, the forced slowdown about thinking about whether I want the purchase really allows me to save,” she says. 

That said, she knows the Amazon habit can be a hard one to break. If you’re on the fence, Shang suggests pausing your Prime membership for a month and seeing if it works for your lifestyle. 

“Oftentimes, if you pause or cancel your [Prime] membership, they will likely give you a deal,” she notes. You can also share your membership with multiple members in your household to save money on the annual cost.

If you’re seriously considering giving it up but have been hesitant to make a move, Saavedra has some advice for you too: Look at your purchase history and ask yourself if those orders added value to your life. 

“Most people that I talk to look at their history and say, ‘Oh my gosh, where did all that money go?’” Saavedra says. “If that’s you, that’s a sign you should quit.”


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