Today’s personal finance hack is about completing online surveys to earn a bit of money on the side.

There are numerous online survey sites that promise to pay you a few dollars for completing surveys on their sites. You may be required to submit some personal demographic details about your location, gender and age, and then answer a few questions about your preferences and opinions regarding certain products and services.

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It may not be much, but it’s easy money.

How much money can you earn through online surveys?

You can easily earn anything from a few dollars to dozens, depending on:

  • the length of the survey, which could range from a few minutes to half an hour,
  • the value of your profile as a consumer to the particular company that wishes to include you in the survey.

Be aware that many online survey sites are scams, which is something we discuss in the next article (linked below).

Will you be paid cash for filling out online surveys?

This depends on the reward policy of the website you choose. Some online survey sites give you points that can be accumulated and redeemed against gift certificates or other promotional items, while other survey sites will deposit money directly to your account once the minimum earning threshold is reached, usually $20.

What kind of questions will you be asked in online surveys?

Online surveys usually pertain to consumer brands, entertainment choices, clothing preferences, taste in food, interest in home and travel, automobiles, spending habits and financial goals. This is simply a short list of consumer interests that companies wish to gather market data about in order to perfect their own goals and strategies.

Why you should consider filling out online surveys to earn money

You may still be wondering whether the payoff for answering questions in online surveys is good enough to bother with the hassle. Granted, this kind of income may not be ideal for everyone, but if you have a bit of spare time on your hand, you can easily work from home and fill out a few online surveys to earn a bit of extra money. Good survey sites do not ask for any kind of upfront fees or investment, so you really don’t have much to lose apart from your time.

Of course, the amount of money you earn from online surveys neither regular nor big enough to live off, but it will do nicely as a bit of extra cash to pay the bills or to put away as savings.

There are some pitfalls and risks you should be aware of when thinking about earning money through online surveys, such as their privacy policy, reward policy, locational limitations and scams, and we look at those in the next article.

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