One of the easiest ways to make money online is to take surveys. There’s slightly more to it than registering, filling out a profile, and sharing your opinion.
The big query is how much cash you can earn and how much work is involved. Online surveys can leverage your extra time to make a bit of cash. This article will reveal what to do with extra money from surveys! Let’s hop into more details below!
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Why do businesses pay for surveys?
You may think that getting paid to take a survey seems silly. Why would a company pay you for your opinion? Truth be told, most businesses depend on consumer feedback. Businesses that don’t have a branch to run consumer surveys and panels hire survey firms to do it for them.
Client feedback allows companies to make more cash by tweaking products before publicly releasing them. That’s why firms will pay you for your time when you take a survey. The data you give them is critical to their success.
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How much you can make?
As already mentioned, you won’t make a fortune taking surveys online. Yet, you can make an extra buck for fun, for paying off debt, or for investing. Economic survey rewards range from less than $1 to more than $20. Still, they’re often on the lower end of that range, $1 to $5. If you can take more surveys in a day, you can earn quite a bit of cash in a month.
Other businesses don’t give you money. Still, they may help you save cash by delivering you free products that you need to test for the survey. This can be a terrific way to get free home products, personal care products, and other items you use regularly.
Still, other firms will enter you into a raffle when you take a survey. The more surveys you take, the more options you have to win. These can be a bit frustrating, as you don’t necessarily get a prize instantly. Yet, they can pay off with some amazing prizes, like gift cards, products, and money.
How much you can make relies on which businesses you sign up with. Also, it depends on how many surveys you take, and which demographic you fit. Some corporations, like Swagbucks, also deliver prizes, points, or money for referring others. With that in mind, this is another part of survey-taking to check out.
Take benefit of credit card rewards
You will be spending some portion of your extra cash. Think of groceries, bills, etc. So why not make cash while you spend? This is precisely what credit card rewards let you do.
Of course, this won’t get you an early retirement, but it’s a fast step that costs nothing. Also, it can help fund other projects or help you cover some basic monthly fees.
There are numerous low-fee credit cards that give you rewards. Think of extra cashback or travel points. But, pay the credit card bill at the end of each month, by all means. Do this so that you never hold a balance and pay interest!
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Save for your other money goals
Retirement isn’t the sole thing in your future. You should take time to recap what you want your cash to do for you. Plans that are at least 5 years away can often concern investing at least a tiny portion of your savings.
For short-term plans, it’s usually wise to keep the cash in a savings account. This truly goes without saying!
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Pay down high-interest debt
Do you have extra cash lying around? If yes, you may as well use it to save yourself cash in the future. What if you have a balance on a credit card or loan and have a high-interest rate?
In that case, your best investment might be to pay off that balance, by all means. Often, if your interest rate is higher than you can hope to make, you may get a better return on your cash. So, pay off that debt.
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Start or build up an emergency fund
If the covid pandemic taught us anything, it’s that the unforeseen can occur. So, it really pays to be prepared for it. The first step you might want to take with any extra cash is to ensure you have an economic cushion for unexpected events. This truly goes without saying. You can never truly predict what may happen.
To make this money extra practical, you can put your emergency budget into a high-yield savings account. By doing that, your money may benefit from a higher interest rate. Still, you will have immediate access to it, by all means.
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Spend on yourself
It’s wonderful to look for methods to build funds with extra money. Only keep in mind that it’s also great to spend on yourself. You could put more cash from surveys into a hobby. Or you can save up for a hiking trip to Ireland. Lastly, keep in mind that everyone loves to go shopping from time to time!
There’s nothing inaccurate with awarding yourself for your work. It’s critical to find that harmony between being financially liable and using your funds to enhance your quality of life. This is the unwritten rule, by all means.
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Top businesses to check out
There are too many survey firms that could be worth checking out. Yet, because various businesses research different demographics, you may get diverse results. So, it’s worth it to look around.
Individuals who get the most from taking online surveys have a few tips. They say it’s best to register for at least 5 to 10 firms if you want to take surveys daily.
That said, down below are some of the top survey firms:
- Swagbucks: This is a wonderful business. Why? Well, you can earn cash-back prizes or gift cards for your online activity. Swagbucks awards you for watching videos, conducting surveys, voting, and even playing online games. It’s free to register, and if you spend hours surfing the internet anyway, you may as well get paid for it.
- MyPoints: This authorized site, founded in 1996, offers various ways to make money. For instance, you can do that by filling out surveys, playing games, reading emails, watching films, and more. The funds can be drawn to gift cards at, Amazon, Starbucks, and PayPal.
- 20/20 Research: This firm does more precise surveys. So, you may not pass many prescreen with them. Yet, if you do land a survey, you could get excellent wages. For instance, you can get $100+ of gift cards and other prizes.
- PineCone Research: This business pays $3 per survey taken, so they’re a fair use of your time. They aren’t always welcoming new panel members. Still, you should check back often to see when they are receiving sign-ups.
- Valued Opinions: This business pays $1-$5 per finished survey, so these can quickly add up. You can also use surveys to gain rewards from different retailers.
- Shoppanel: This website lets you earn up to $5 per survey taken. Make sure that you register here to see all the amazing opportunities.
Beware of scam
Yes, there are many legitimate survey firms out there. Still, this is also a fair market for a scam. Some businesses will sell your profile data, which can be personal, for profit.
Know that businesses need the data they get from surveys. Moreover, they’re ready to pay to get it. So, legitimate survey businesses will share the wealth by paying you, not by requesting the money.