Using online platforms to enhance your financial success
Before the COVID-19 pandemic we heard a lot of talk about the 4th Industrial Revolution (4IR). In the past year, talk turned into reality. We saw digital transformation on a massive scale when the way of work was flipped on its head. At Momentum, 16 500 employees had to work remotely, and we successfully made the move in just a week, without business interruption. Our world is now more digitally connected than ever with Artificial Intelligence (AI) that allows us to learn, shop, play and do business all in the comfort of our home.
Successfully turning likes into money
We live in an age of influencers and social entrepreneurs. These individuals are using the power of the Internet and social media to make a difference and shape the way we engage with brands. The commodity on social media is content. If people find your content entertaining, educational and useful, they will be interested in what you have to say. This will build your audience, attract new clients, and you can ultimately make some money. Elma Smit, an influencer and author, shares great insights on how to monetise social media in her new book titled “Become an influencer.”
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Where to find the best financial news
We often use social media and the Internet for entertainment and staying informed, and that’s okay, but there’s also an abundance of information that’s untrustworthy and misleading.
To keep giving your personal financial journey momentum, follow credible online sources like Momentum or News24 and internationally, The Wall Street Journal or Financial Times London.
Some things are better not shared
It’s amusing to share or forward content that’s entertaining. It’s
sometimes just what we need to brighten our mood. But remember,
you’re responsible for what you post on social media. Before you post:
Think.
If you wouldn’t want it plastered on a billboard on the N1 or M2, with your name attached, for the world to see – rather don’t post it. If you share
malicious content about your employer, it could breakdown trust or lead
to dismissal. Also, future employees may see the post which could make
them question if you’re indeed the right candidate for the job.
Beware of fraudsters and scammers
You need a healthy dosage of caution when using the Internet, particularly when it involves your money. Not all sources are credible, and not all the people who are vocal on these channels are experts. Look out for these red flags to avoid being deceived or scammed:
- If it sounds too good to be true, it’s probably a scam. Scammers use fake social media accounts and websites to lure unsuspecting people to invest then disappear with their money.
- Check if the company has a website. All major financial companies have websites with detailed products and service information.
- Use credible platforms to find out more info on financial experts or companies. LinkedIn, for example, is brilliant when looking to engage with experts.
- If you get an SMS or message asking for your details or bank account number, do not give it to them. No reputable institution would do that.
Expert advice on using online channels
Momentum Metropolitan deputy CEO and Momentum Investments CEO, Jeanette Marais and Theo Vorster shared tips on how to benefit from the abundance of online financial information and pitfalls. Watch Geldhelde on Monday at 19:30 on via DStv channel 147.
Jeanette’s top tips on social media and the Internet
- The Internet allowed us to work from home during the hard lockdown caused by COVID-19. It gives us access to instant information and brings the world closer.
- The internent gives you access to potential clients if you are running or starting a business.
- Be cautious of free financial advice. Make sure the information behind it is trustworthy.
- Be vigilant with your personal information. Don’t give your information to someone you don’t know.
