Make Money Online With Paid Surveys: The Pros and Cons
- Author: Elmer Schuster
- Posted: 2024-03-17
Taking online surveys in your spare time can be an easy way to make some extra money. However, it's important to go in with realistic expectations about how much you can earn and the potential downsides.
How Do Paid Survey Sites Work?
Survey companies conduct market research on behalf of brands and businesses. They recruit people to share opinions on new products, services, advertisements, and more. In exchange for completing a survey, you earn cash, gift cards, or entries into sweepstakes.
The most popular survey sites like Survey Junkie, Swagbucks, and InboxDollars claim to have paid out over $100 million to members. While that sounds appealing, keep in mind they have millions of members and have been operating for many years. The average person earns closer to $50-$100 per month.
Pros: Easy Money and Flexibility
The biggest benefits of paid surveys are how easy they are to do and the flexibility. You can take surveys whenever you have a few spare minutes, day or night, on your phone or computer. There's no commute, and you can work as much or as little as you like.
For those looking to earn a little extra spending money or pay down some bills, survey sites provide an easy option. The money can add up over time, especially if you qualify for higher-paying surveys.
Cons: Low Pay, Lots of Disqualifications, and Scams Abound
However, there are some significant downsides to consider:
- Surveys typically pay very little, between $1 to $5 each. It can take many hours to earn a meaningful amount of money.
- You may spend time answering screening questions only to be disqualified from a survey. This can be frustrating and lower your hourly "wage."
- There are many survey scams that promise big payouts but really just steal your personal information. You have to be very careful to avoid frauds.
- Payouts often have high minimums before you can redeem for cash or gift cards. It can take weeks or months to reach the threshold.
- Your personal information may be shared with or sold to third parties. Some survey companies are not transparent in how they use and distribute member data.
Overall, paid online surveys can be a source for some easy extra money if you go in with realistic expectations about the potential earnings and are aware of the possible downsides. Do your research, read reviews, and stick to reputable survey panels to maximize the benefits and minimize risks.
