Social Earn

Social Earnings

Beyond the theoretical earning potentials, the application of the Modern Earning social calculator also yielded tangible findings. Of the participants in our study that earned more than $10,000 in a year, more than half contributed to social expenses, such as paying rent or buying food. As a result, their earnings were often negative: social earnings subtracted from social earnings.

This information shows that social earning can be quite useful in social relationships—even a modern one. Earning allows for constant earning (if you are doing social earning on a regular basis) while also earning a return (if you are earning while others are not).

On the other hand, earning can also yield negative social benefits. Social earning can create an extremely negative social atmosphere. Earning by others can quickly become degrading and unhealthy. Earning can have an extremely negative impact on people’s mental, emotional, and even physical health, especially if you are earning by others and you are not earning yourself.

Earnings that come from social borrowing will never directly be shared with others—it is done in a way where earnings are determined by the person who borrows, and they will not have any contact with other people or with the financial institution that gives them the money. That sounds a lot like stealing, doesn’t it?

We recognize that not every friendship will include borrowing and not every business can be built on top of social lending. However, earning income is a basic need, and it can be easily shared. Income from borrowing can be used to maintain and enrich friendships and social lives, which, in the modern world, is essential for maintaining relationships.

Social Earnings & Accumulation

The Modern Earning application showed that earning money is a necessary part of most modern social interactions, and that, contrary to popular beliefs, individuals can have positive expectations for this aspect of life. This also seems to be what most individuals value.

Beyond the actual earning potentials, earning is a way to collect social earnings (the “earning points” associated with earning from social earning and the “costs” of borrowing money from others). Like the social payouts associated with borrowing, these earning points and cost costs also need to be accumulated through time.

The equation we used to describe the returns and costs of social earning is also applicable to the value of earnings for monetary purchases (with credit, of course). It can also be adapted to describe a different model of accumulation: some individuals seem to prefer earning social earnings or accumulating loans over earned money for social purchases. It is likely that the reason for this preference can be quite different from those mentioned in the social earning application—this time, it is linked to psychological needs.

If you consider all the monetary benefits of earning, such as buying personal freedoms and expressing creativity, it is often easier to give away free money (earned through social earning or borrowing) than to earn it directly.

More modern personal finance applications are increasingly focusing on different aspects of earning in our modern environment, such as social earning or educational earnings. The application that emerged from these studies is a fascinating development in personal finance.

For example, we observed that earnings from money earning and borrowing, from schoolwork and work earnings, can often be accumulated to a relatively large level—if the individual is willing to take the time to carefully manage the amount of earnings accumulated. A significant share of income accumulated in this way is not immediately used to build up a financial portfolio or retire a sufficient amount of money, but is instead spent.

We often hear that people earn in order to accumulate money. But earning money is not the same as earning the ability to earn money. In both cases, the ability to earn or to borrow money for a time, using it wisely, will pay off in the future. The ability to earn can be used to spend a portion of earnings, or borrow against future earnings.

These kinds of earning opportunities and opportunities to borrow money seem to allow individuals to accrue the social earnings needed to better contribute to social spending and enjoy their unique lifestyles.

However, it is important that individuals are able to freely choose to earn socially or to borrow money. Having more equal opportunities, a modern government would be better positioned to provide an income that can be collectively used for the benefit of society.

While earning does appear to be one way to earn a modern income, it is important to understand that the sheer size of some individuals’ earnings can mean they cannot give up a substantial portion of their earnings for others, especially when earnings from working are not necessarily taken into account.

This is why we felt it was important to take time to study the different ways people are attempting to earn income in our modern economy.

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