Getting paid to simply take surveys sounds like a great idea. But are paid surveys worth it? There’s no doubt that some money can be made from taking surveys but only if you are willing to put in the hours and have patience.
Let’s be clear; no one is going to get rich taking surveys but they are a good way to make some spare cash if you have the time.
Are Paid Surveys Worth It?
So are paid surveys worth it? It really depends on how you value your time and how much of it you have available to spend. Survey sites can pay out a decent amount of money however, it depends on how long you are able and willing to spend on completing surveys as to whether it is ultimately worth it.
There are several key factors to consider when thing about whether paid surveys are worth it:
Time
How much you make from paid surveys will ultimately come down to how much time you have on your hands. The more hours you can dedicate the more likely it is that you’ll make good money.
Money
Whether or not paid surveys are worth your time will also depend on how much money you are looking to make from this side gig. If you need it to seriously supplement your income then you may be better off looking for more lucrative side hustles. That said, there aren’t many easier activities out there that will pay you. With paid surveys, all you need to do is express your opinions in an honest way.
When You Need The Money
Something to factor in whether paid surveys are worth it for you is when you’ll need the money. Most survey companies only allow you to cash out after you’ve reached a certain number of points or value accrued. This may take weeks depending on how many hours you can dedicate to taking surveys each day. Don’t expect to be paid as you go – in most cases, it will be dependent on you reaching certain points.
Alternatives
A large part of whether or not paid surveys are worth it will depend on what alternatives you have to make money. It’s all well and good saying that paid surveys don’t pay all that well but if you do not realistically have any alternatives that will at least pay you the same or more, then paid surveys are still very much worth it. For many people, although there may be theoretically more valuable options out there to make some spare cash, they may simply not be capable of getting to the point of making money with those other options.
Lost Time
When thinking about whether paid surveys are worth it, you also need to factor in lost time. When completing your sureys you need to be aware that you won’t qualify for everyone you try to complete. Often times you’ll find that you answer some screening questions and find you are disqualified from particpating in the full survey. That is time you lose though some sites like Swagbucks do still give you a small reward even for these.
How Much Can You Expect To Earn From Paid Survey Sites?
The amount you can expect to earn from paid survey sites will vary depending on the site, surveys available and their payout system. Let’s take a look at some of the most well known survey sites and what they say about how much you might typically be able to earn.
Survey Junkie
Survey Junkie is one of our favourite paid survey sites. Survey Junkie state that you can “Complete three surveys daily and earn as much as $40 monthly”
If you have the time to complete more than three surveys each day, one could assume you could make a whole lot more than $40 monthly.
Swagbucks
Another site we like for surveys is Swagbucks and they state that “
Most Swagbucks members should be able to earn $1 to $5 a day (or $365 to $1,825 a year). There are some offers that pay $50 to $250, but on a typical day, earnings could average out to $1 to $5 a day.
There are hundreds of Swagbucks members who have achieved Diamond level status, Swagbucks’ highest level of member status recognition. Diamond-level members have earned over $20,000 from Swagbucks.”
Again no doubt these figures will largely depend on how much time you can dedicate to answering surveys and carrying out other activities but nonetheless these are promising figures.
Branded Surveys
Branded surveys is a large site with a tony of reviews behind it. They state that ‘most surveys at Branded pay between $1-3″. In isolation these may seem like small numbers but when added up daily over a long period of time, they can amount to significant additional income.
Things To Keep In Mind When Doing Paid Surveys
If you do decide that paid surveys are for you, there may be a few things to keep in mind to make the process more pleasant/
Setup A Separate Email Address
You may want to setup a separate email address as you are likely to be bombarded with emails from survey companies with new suggestions for surveys you can take. Of course this also provides you with more opportunities but it is simple enough to setup a separate email so that you know what to pay attention to.
Stick To Reputable Sites
To best protect yourself online it’s best to stick to tried and trusted survey sites like Survey Junkie and Swagbucks.
Decide What You Are Comfortable Sharing
Only give out information you are comfortable sharing. If you are ever asked for highly confidential information like your credit card number or social security then abort. Remember that sometimes you may be connected to third-party sites away from the main survey company you initially connected with so be wary of security issues and breaches.
Conclusion: Are Paid Surveys Worth It?
So, are paid surveys worth it? In short, if you have the time to dedicate and you do not have any better alternatives for making spare cash then paid surveys are definitely worth it. Although they can be tedious and time-consuming, if you are unable to or not prepared to find other ways to make cash then paid surveys do offer a great way to make some extra money. Nothing comes free or easy in life and paid surveys are no different. In order to receive value you must offer it in some shape and giving up your time and opinions in exchange for cash seems like a fair trade though it won’t make you rich or replace your full-time income.