Effectively leveraging multimodal information from social media posts is essential to various downstream tasks such as sentiment analysis, sarcasm detection and hate speech classification. However, combining text and image information is challenging because of the idiosyncratic cross-modal semantics with hidden or complementary information present in matching image-text pairs. In this work, we aim to directly model this by proposing the use of two auxiliary losses jointly with the main task when fine-tuning any pre-trained multimodal model. Image-Text Contrastive (ITC) brings image-text representations of a post closer together and separates them from different posts, capturing underlying dependencies. Image-Text Matching (ITM) facilitates the understanding of semantic correspondence between images and text by penalizing unrelated pairs. We combine these objectives with five multimodal models, demonstrating consistent improvements across four popular social media datasets. Furthermore, through detailed analysis, we shed light on the specific scenarios and cases where each auxiliary task proves to be most effective.