The truth about online paid surveys that it will never make you rich and will never be able to replace your regular job income even if you are working with the minimum wage. This is simply because the number of surveys you receive per day will be limited to 20–30 if you sign up for 10–15 online survey panels. Assuming that you will qualify for half of the surveys and the average incentive is $3 per survey, you will end up with $45 in your luckiest day! In fact, you will most likely end up making $10 a day with a possibility of reaching as much as $20 few days a month! However, online paid surveys can be a side activity that generates a consistent monthly income if you follow our tips and advice.
Compensation for taking each survey can range anywhere from $1–$8 or even more depending on the product/service under evaluation. A survey generally takes around 5–45 minutes to complete, the longer it is the higher is the compensation. To conclude, taking online surveys can be beneficial if you can dedicate 60 hours per month which would generate $200-$300 at the comfort of your home. This extra money will definitely help you and your family in the current weak economic conditions. It is obvious that part-time workers,unemployed people, housewives, and retirees can generate more monthly income.
How much Extra Money can you make?
That depends on your free time, survey compensation, strategy for taking online surveys and strategy for increasing your potential earnings. Many paid surveys offer $2 incentive for around 20 minutes time frame which seems to be the standard in this industry. However, small things count and you can generate a steady monthly income from the comfort of your home. Assuming you can dedicate 60 hours per month (just 2 hours every day) and assuming that you will spend 10 minutes to get qualified for a survey. Therefore, you can complete two surveys in one hour. As a result, you can get around ($2 / survey) x (2 surveys / hour) x (60 hours / month) or an average of $240 per month. This figure may increase knowing that some online survey panels pay more than others, and that hot topics such as new technology and internet usually pay an average of $5 for 20 minutes length surveys, in addition to some facts listed in the next section.