In addition to cat memes and argumentative comments, the internet has created numerous opportunities for the average person to make money. While some people opt to work entirely online, others use the internet as a way to make money on the side.
One of the popular ways to make extra income is through online surveys and shopping apps. While many people are hesitant to try out of fear of getting scammed, online surveys are a great way to make some extra cash.
Here’s everything you need to know about these opportunities.
Are Online Surveys and Shopping Apps Scams?
As with any business, you have to be wary of the potential for scammers and con artists. That being said, there are plenty of reputable sites on which you can make real money by taking surveys.
These sites will never be able to replace an income or make someone rich, but the extra money can help offset bills, grow a small savings account, or be used for fun activities.
Shopping apps offer the same level of compensation. You won’t make extra money by shopping all the time, but by using one of these apps you can save money or earn a rebate for your purchases.
These apps are particularly useful for gift giving seasons.
Be wary of businesses that ask for too much information, such as your banking information and Social Security Number, as well as those that don’t ask for enough.
Where Does the Money Come From?
Why should you be wary of businesses that don’t ask for enough information? Online survey companies are paid by businesses to conduct marketing research through surveys.
To do so effectively, they need to know your demographic features, such as age, average income, location, occupation, race, etc.
This is so the company who has outsourced the survey knows what their particular target market is interested in.
So, if a survey company asks only for your email address and name, they aren’t doing legitimate work. The company requiring information pays the online survey site, who in turn pays you a portion of the fee.
Shopping apps require less information, though they may ask about your interests and buying habits to offer you deals that entice you to buy.
You make money on your purchases through affiliate links. Every time you click on the shopping app to one of the stores, you are using an affiliate link that offers the app a percentage of the total sales as a kickback.
The app offers you a portion of that percentage. Both options are legitimate business transactions.
Not all online survey sites and shopping apps offer monetary compensation. Many offer gift cards for free rather than cash. This option is still entirely legal and useful, as the cards are for fun activities, grocery stores, and popular retailers.
Other sites offer a points system. After so many points are accumulated, you can trade them in for gift cards, products, and sometimes even cash.
Once you reach the minimum required balance or the scheduled payout date, you’ll receive your payment in the mail, via email or on PayPal.
Before you start doing surveys or using a shopping app, be sure to read the fine print and familiarize yourself with the form of compensation used, minimum balance requirements, and payment schedules.
Be sure to confirm that there isn’t a time limit for carrying over a balance; it would be a shame to fill out surveys then lose the compensation after a couple months of inactivity.
How to Make Money
The best way to make money by doing online surveys is to set aside a bit of time each day to see what’s available.
If you have an exceptionally busy schedule, this might not be the money-making option for you as the payouts per survey are limited.
For example, you might only make anywhere between $0.50-$5.00 each day for an hour or more of work. However, if it’s the latter, the extra $150 each month can go a long way.
The trick with making money while using shopping apps is not to let your spending get out of control. Shop sales and only buy what you need.
Look for daily deals that offer double money for your purchases and spend wisely. When the next rainy day rolls around, you’ll be glad you did!