June 25, 2009

Can you Make money with Online Surveys? First test: MySurvey.

I've heard that you can make some extra money filling out survey's online. But I haven't really seen much on how you go about it and how much you can make. So I decided to test it out myself and see how practical it is and exactly how much money you can make doing it. I did a little searching and found some online survey websites. One of the sites I found is called MySurvey and I decided to try it out as my first test.

I started MySurvey about a month ago. Signup was easy. The way it works is you get new survey's to take and then earn points for each survey. Once you have accumulated 1,000 points you can redeem it for $10 in cash or a gift card. The surveys are all pretty simple consumer surveys about products and services we use or our household characteristics. I didn't have to do anything but answer the simple surveys which take a few minutes each. In total I've done 10 surveys and accumulated 140 points. Most surveys are 10 points and take 2-3 minutes. I've spent about 30 minutes total taking the survey's. Average time per survey is 3 minutes. The total of 140 points I've got would equate to $1.40 in cash value. So at this rate I'm making $2.80 / hour of work. That is roughly 1/2 of minimum wage.

Easy system
Quick surveys
No strings attached

Infrequent surveys
Low earning power
Could take several months to cash in minimum $10
Occasionally flaky website

Overall I thought MySurvey was OK experience but you won't make much money doing it.

Would I recommend it? Not exactly. I think most people would be better off doing other things with their time. Most people would be better off spending their extra few minutes doing research on the web to find cost cutting ideas or other ways to decrease spending.

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