Category: Money Making

With house prices falling all around Australia, the big question facing prospective buyers is whether the balance of power has shifted away from vendors and now is the time to buy.

Research house CoreLogic’s national Home Value Index (HVI) is showing six months of consistent declines, with values falling another 1.2% in October. Every capital city and region – with the exception of South Australia – recorded a drop in housing values last month.

Already there is anecdotal evidence that vendors are facing up to the new reality and lowering their expectations, and are increasingly willing to negotiate with vendors.

Weekly auction results are still slowing lower clearance levels and a higher percentage of homes being passed in at auction or selling for less than expected.

The ideal situation with real estate, as with any asset, is to buy low and sell high. And just like there was the ‘fear of missing out’ when prices were on the way up and interest rates were low, now there is FIFO around missing the “bargains’ as the market falls.

If you sold at the top of the market last year and have been sitting out, living in a rental while you plan your next move, then you are truly sitting pretty right now.

Or if you are a first homebuyer who has been scrambling to get a deposit together, only to see prices go stratospheric last year, then at least you might have some hope particularly if you can get onto the Government’s new Help to Buy Scheme where they’ll contribute 30 or 40%.

Picking the bottom of the market is a tricky challenge and everyone wants to buy when it is at rock bottom, but not even the most experienced real estate pundit can tell you when that might be.

However, it is clear that interest rates will continue to rise in 2023 and this will continue to exert downward pressure on house prices.

Personally, if I was sitting and watching the market with a big enough deposit and was ready to make a move, I would wait until late 2023.

By then you would expect inflation and interest rates to have peaked and for the downturn in housing prices to have evened out.

That is just one opinion of many but I’m putting it out there.

Regardless of how it plays out the fact is that prices are on their way down and the market is full of motivated sellers.

For the first time in a couple of years, there is value to be had in the market.

It will all come down to how a buyer’s numbers add up in terms of deposits and repayments, and also if they have found the right property.

The good news for buyers is that the momentum is going their way, and there is more of a chance for them to find the property which stacks up not only as a home, but as an affordable asset and ultimately an investment.

Want to know how to save money even if you feel like you don’t make enough, or are flat-out broke?

Here’s what to do:

Depending on your financial situation, setting up a workable Conscious Spending Plan may seem out of reach for you.

Some people have already cut their spending to the bone and still don’t have any extra money.

For me to suggest that they put away 10 percent for retirement is, frankly, insulting. How can they be expected to contribute 10 percent toward long-term savings when they don’t have enough to fill the car with gas?

Sometimes this is reality, and sometimes it’s perception.

Many of the people who’ve written me saying they live paycheck to paycheck actually have more wiggle room in their budgets than they think (cooking instead of eating out, for example, or not buying a new cell phone every year).

They just don’t want to change their spending.

However, it’s true that many people really cannot afford to cut more spending and really are living check to check.

If you simply can’t cut more out of your budget, this spending plan may be a useful theoretical guide, but you have more important concerns: making more money.

There’s a limit to how much you can cut, but no limit to how much you can earn. Once you increase your earnings, you can use the Conscious Spending Plan as your guide.

Until then, here are three strategies you can use to earn more.

Method #1: Negotiate a Raise (So You Can Save More Money)

If you already have a job, it’s a no-brainer to negotiate for a raise.

The Society for Human Resource Management (SHRM) notes that the average cost per hire is $4,425. If they’ve already spent nearly $5,000 recruiting you, and thousands more training you, would they really want to lose you?

Asking for a raise takes careful planning. I even wrote an article on how to negotiate your salary.

Don’t do what my friend Jamie did.

When he realized he was being drastically underpaid for his contributions, he seethed without taking any action for more than two months.

When he finally got up the courage to ask his boss for a raise, he said it in the most timid way: “Do you think I might possibly ask you about a raise?” If you’re a manager, the first thing you’d think is, “Oh God, not another thing in my day.” Jamie’s boss brushed him off, leaving Jamie frustrated and underpaid.

Remember that getting a raise is not about you. It’s about you demonstrating your value to your employer. You can’t tell them you need more money because your expenses are higher. Nobody cares.

You can, however, show how your work has been contributing to the company’s success and ask to be compensated fairly.

Here’s what you need to do:

Three to six months before your review: Become a top performer by collaboratively setting expectations with your boss, then exceeding those expectations in every way possible.

One to two months before your review: Prepare a “briefcase” of evidence to support the exact reasons why you should be given a raise.

One to two weeks before your review: Extensively practice the conversation you’ll have with your boss, experimenting with the right tactics and scripts.

Three to six months before you ask for a raise, sit down with your boss and ask what it would take to be a top performer at your company. Get crystal clear about what you’d need to deliver. And ask how being a top performer would affect your compensation.

Set up the meeting:

Hi Boss,

How are you? Hope you had a great New Year’s! I’m really excited to kick things off this year, especially with our new X and Y projects coming up.

I really want to do an exceptional job, and I’d like to chat with you for a few minutes about how I can be a top performer. I have some ideas of my own, but I’d love to get your guidance as well. Would a 15-minute chat next week be okay? If so, how about I swing by your desk Monday morning at 10 a.m.?

Thanks,

Your Name

Notice how gradual this process is. You’re not coming straight out and asking for a raise. You’re not even asking what it takes to be a top performer. You’re simply asking for the meeting.

In the meeting:

YOU: Hi Boss, thanks for taking the time to meet with me. As I mentioned, I’ve been doing a lot of thinking about the position and what I can do to really be a top performer this year, and I’d like to discuss that with you if that’s okay.

BOSS: Sure.

YOU: So the way I see it, my role in the position can be broken down into three main areas: A, B, and C. I think I’m doing pretty well with A, and I’m picking up B pretty rapidly. And I need a little help with C, as we’ve discussed before. Does that sound about right to you?

BOSS: Yes, that sounds right.

YOU: I’ve been thinking a lot about these three areas and how I can really take them to the next level. I have some initial thoughts of my own, and I’d be happy to talk about those, but I’d actually like to get your thoughts first. In your eyes, what would be the most meaningful things I can do in these three areas to really be considered a top performer?

BOSS: Hm . . . I’m not really sure. Maybe blah, blah, and blah.

YOU: Yeah, I agree—we’re on the same page here. So here’s what I was thinking: Specifically, I’d like to achieve goals A, B, and C, and I’d like to do all this in six months. That’s pretty aggressive, but I think it’s doable. Would

you agree that’s something that you’d like to see from me, and that it would also help peg me as a top performer?

BOSS: Yes, it would. That sounds perfect.

YOU: Okay, great. I really appreciate it, Boss. So I’ll get to work on this and keep you in the loop with a status update every four weeks as usual. The last thing I’d like to talk about is: If I do an extraordinary job, then at the end of the six months all I ask is that we sit down to discuss a possible compensation adjustment. But let’s cross that bridge when we get to it, OK?

BOSS: Sounds fine. Looking forward to seeing what you can do.

YOU: Great. I’ll type up these notes and send them to you. Thanks again!

You’ve made it clear what you want: to be a top performer. You’ve enlisted your boss’s help on getting specific about what that means. You’ve also taken the initiative to follow up—in writing—to clarify those goals.

Now it’s time to deliver. Start tracking everything you do at work and the results you get. If you were on a team that sold 25,000 widgets, figure out what you did to help make that happen and, as much as possible, quantify it. If you can’t figure out the exact results you’re driving, ask someone at work who’s more experienced and knows how to tie your work to company results.

Be sure to keep your boss in the loop so he or she knows how you’re progressing. Managers don’t love surprises; they love brief status updates roughly every week or two.

Approximately two months before you ask for a raise, meet with your boss again and demonstrate your tracking from the previous month. Ask what you could do better. You want to know if you’re on the right track with your work, and it’s important that you regularly communicate your progress.

One month before the big event, mention to your boss that because you’ve been doing so well, you’d like to discuss compensation at a meeting the next month. Ask what you’ll need to bring to make it a fruitful discussion. Listen very carefully to what he or she says.

Around this time, it wouldn’t hurt to ask your fellow coworkers to put in a good word with the boss. This assumes, of course, that you’ve been exceeding expectations and driving concrete results. I learned this technique from a Stanford professor of mine, who put in a good word to an admissions committee for me. Here’s what a sample coworker email could look like:

Hi Boss,

I wanted you to know how much of an impact [Your Name] is having on the Acme project. She managed to convince our vendor to cut their fees by

15 percent, which saved us $8,000. And she’s running two weeks ahead of schedule, which speaks to her ability to stay organized and keep us on track.

Thanks,

Awesome Coworker

Now you’ve set the stage.

Two weeks before you ask for a raise, ask a couple of friends to role-play your job negotiation. This seems really weird, but negotiating is not a natural behavior. It will feel extremely odd and uncomfortable the first couple of times you do it. Better to do it for the first time with friends since you’ll eventually be negotiating with your boss. And pick good friends—people who have business experience and will give you feedback on how you performed.

Specifically, while I’m hoping your boss immediately recognizes your work and agrees to a raise, sometimes it isn’t that easy. Prepare for the following scenarios:

■ “You didn’t hit those goals.” If you genuinely didn’t hit your goals, you should have communicated that earlier and decided on a plan of action with your boss. But if your boss is simply using this as an excuse—to obfuscate what the goals were, or to move the goalposts—here’s your response: “If there are areas for me to grow, I’d love to discuss them. But on [date], you and I agreed to these goals. And I’ve sent you a weekly update since then. I’m all for exceeding goals—which I’ve done, as you can see from [Specific Project]—but I want to be compensated in good faith.”

■ “I didn’t agree to a raise.” Your response: “That is true. But as we discussed on [date], we both agreed that if I hit these goals, I’d be considered a top performer—and that we’d discuss a compensation adjustment in the future.” (Pull out a printout of the email chain.)

■ “We can discuss this another time.” Your response: “I understand if there’s a timeline for raises and we’re off cycle. But I’ve put six months of work in to hit these goals and I’ve updated you along the way. I plan to continue exceeding my goals, but I’d like to get clear that I’m on track for a raise on our next cycle—in writing.”

On the day you negotiate, come in with your salary, a couple of competitive salaries fromsalary.com and payscale.com, and your list of accomplishments, and be ready to discuss fair compensation. Remember, you’re not asking your mommy for lemonade; you’re a professional who’s

asking to be compensated fairly. You want to proceed as partners, as in “How do we make this work?”

This is the culmination of all your preparation and hard work. You can do this!

If you get the raise you were looking for, congratulations! That was a huge first step toward increasing your income. If you don’t, ask your boss what you can do to excel in your career, or consider leaving to find another company that will give you greater room to grow.

COOL TRICK: QUICKLY DISCOVER HOW MUCH YOU MAKE

To find your annual salary, just take your hourly rate, double it, and add three zeros to the end. If you make $20/hour, you make approximately $40,000/year. If you make $30/hour, you make approximately $60,000/year.

This also works in reverse. To find your hourly rate, divide your salary by two and drop the three zeros. So $50,000/year becomes approximately $25/hour.

This is based on a general forty-hour workweek and doesn’t include taxes or benefits, but it’s a good general back-of-the-napkin trick. And it’s very useful when you’re deciding whether to buy something or not. If that pair of pants is going to cost you eight hours of work, is it worth it?

Method #2: Get a Higher-Paying Job (I & start saving more money!)

This takes us to the second way to increase your income. If you find that your existing company doesn’t offer you growth potential, or you’re in the process of getting a new job, negotiating your salary will never be easier. During the job hiring process, you have more leverage than you’ll ever have.

I cover negotiating a new salary in detail.

Method #3: Do Freelance Work

One of the best ways to earn more is to start freelancing. A simple example is becoming an Uber driver, but go deeper. Think about what skills or interests you have that others could use. You don’t necessarily have to have a technical skill. Babysitting is an example of freelancing (and it pays very well). If you have free time at home, you can sign up to be a virtual assistant on sites like upwork.com.

When you embrace the idea that you can earn more, one of the biggest surprises you’ll discover is that you already possess skills others would pay for—and you’ve never even realized it. In my business, we built an entire course around this, called Earn1K, and I absolutely love highlighting the different ideas that my students turned into profitable businesses.

For example, one of my readers, Ben, loves to dance. Through our Earn1K course, he learned how to turn that skill into a business of teaching men how to dance. Soon after he launched his business, Good Morning America called to feature him.

And then there’s Julia, a caricature artist who was charging $8 per hour to draw faces. We showed her how to turn that into a six-figure business.

There are thousands of other possibilities, even ones as simple as tutoring and dog walking. Remember, busy people want others to help them with their lives. A great place to start is the jobs section on craigslist.

If you have expertise in something, reach out to companies who might need someone like you. For example, when I was in high school, I emailed fifty websites from different industries that looked interesting but had poor marketing and copywriting. I offered to help them rewrite their websites. About fifteen responded, and I ended up editing copy for one company that eventually promoted me to run their sales department.

Later, during college, I consulted for venture capitalists, teaching them about marketing with email and social media. This is stuff you and I know like the backs of our hands, but it was new to these VCs—and valuable enough that they paid a great consulting fee.

For more side hustle ideas, see my article on 50 side hustles you can start today.

You may have heard about “robo-advisors” like Betterment and Wealthfront. Robo-advisors are investment firms that use computer algorithms to invest your money (“robo” refers to a computer investing for you versus an expensive adviser).

You’re probably wondering if they are a good investment and if you should use one. As a NYT best-selling author on personal finance, let me break it down for you.

NOTE: If you’re looking for more information on investing, I recommend checking out these other articles I wrote:

OR, make it easy on yourself, and just enter your email to get my Ultimate Guide To Personal Finance below.

Why Robo-Advisors Became Popular

Robo-advisors took the elite financial planning services offered to clients of financial advisers and full-service investment firms like Fidelity and made them accessible to the average person.

You know how Uber made private cars more accessible and convenient than taxis? That’s sort of what robo-advisors have done to the investment industry.

Robo-advisors implemented new technology to offer investment recommendations for low fees. They improved the user interface so you can sign up online, answer a few questions, and know exactly where to invest your money in a few minutes.

And they personalized the experience so you can add in your goals—like when you want to buy a home—and automatically allocate money aside for it.

Are Robo-Advisors a good Investment?

I have a strong opinion on robo-advisors:

While they are good options, I don’t think they are worth the costs, and I believe there are better options.

As an example, I specifically chose Vanguard and have stuck with them for many years.

Let me explain the pros and cons of robo-advisors so you can make your own decision.

Pros & Cons Of Robo-Advisors

Pros To Using A Robo-Advisor

In the last few years, robo-advisors have become increasingly popular for three reasons:

■ Ease of use. They have beautiful interfaces on the web and on your phone. They offer low minimums and make it easy to transfer your money over and get started investing.

■ Low fees. In general, their fees started off lower than those of full-featured investment firms like Fidelity and Schwab. (Those firms quickly realized their competition and lowered their fees accordingly, while the fees at low-cost firms like Vanguard have always been low.)

■ Marketing claims. Robo-advisors make lots of marketing claims. Some are true, such as their ease of use. Some are disingenuous, bordering on absurd, like their focus on “tax-loss harvesting.”

As you’ve probably realized if you’ve read any of my other blog content on personal finance, I’m a huge proponent of anything that expands the use of low-cost investing to ordinary people.

Long-term investing is a critical part of living a Rich Life, so if companies can strip away complexity and make it easier to get started—even charging a generally low fee—I’m a fan.

These robo-advisors have added phenomenal features that are genuinely helpful, including planning for medium-term goals like buying a house and long-term goals like retirement.

What’s more, you can often tell how good something is by who hates it.

For example, Bank of America hates me because I publicly call them on their bullshit. Good! In the case of robo-advisors, commission-based financial advisers generally hate them because they use technology to achieve what many advisers were doing—but cheaper.

Advisers’ logic on this is not especially compelling. Financial advisers essentially say that everyone is different and they need individual help, not one-size-fits-all advice (untrue— when it comes to their finances, most people are mostly the same).

Robo-advisors have responded by adding financial advisers you can talk to over the phone. Traditional financial advisers say their advice provides value beyond the mere returns. (My response: Fine, then charge by the hour, not as a percentage of assets under management.)

Robo-advisors emerged to serve an audience that was previously ignored:

young people who are digitally savvy, upwardly affluent, and don’t want to sit in a stuffy office getting lectured by a random financial adviser.

Think of an employee at Google who doesn’t know what to do with their money, which is just sitting in a checking account. Robo-advisors have done a good job of appealing to that audience.

But the real issue here is “Are they worth it?”

My answer is no—their fees don’t justify what they offer. The most popular robo-advisors have superb user interfaces, but I’m not willing to pay for that. Since they opened, many robo-advisors have dropped their fees, sometimes even lower than Vanguard.

The Problem With Robo-Advisors

But there are two problems with that: In order to run a sustainable business on fees lower than 0.4 percent, they have to offer new, more expensive features and manage massive amounts of money—we’re talking trillions of dollars.

As an example, Vanguard currently manages nine times more than Betterment and ten times more assets than Wealthfront. That sheer, massive scale is a huge competitive advantage to Vanguard, which built itself over decades to sustain on tiny fraction-of-a-percentage fees.

New robo-advisors can’t sustain on those low fees unless they grow their business rapidly, which is unlikely. Instead, they’ve raised money from venture capital investors, who want rapid growth.

In order to attract more customers, robo-advisors have begun using marketing gimmicks like highlighting a minuscule part of investing, “tax-loss harvesting”—which is basically selling an investment that’s down to offset tax gains—that they blew up into a seemingly critically important part of an account.

Why Tax Loss Harvesting Isn’t That Important

This would be like a car manufacturer spending millions of dollars marketing a triple coat of paint as one of the most important parts of buying a car. Sure, tax-loss harvesting might save you a little money over the long term . . . but not a lot.

And in many cases, it’s unnecessary. It’s a “nice to have” feature, but hardly something on which you should base the important decision of choosing what firm to invest your money with.

Some robo-advisors have also begun offering products with higher fees, as the Wall Street Journal reported in 2018.

Wealthfront added a higher-cost fund of its own. The offering uses derivatives to replicate a popular hedge fund strategy known as “risk-parity.”

Some clients—joined by consumer advocates and rivals—quickly took to online forums to criticize the fund’s costs and complexity. They also took Wealthfront to task for automatically enrolling certain customers in the fund.

“I just looked at my account & it’s true. There was money moved into your ‘Risk Parity’ fund without my consent,” Wealthfront customer Cheryl Ferraro, 57 years old, of San Juan Capistrano, California, recently posted on Twitter.

“I had to go into my account and tell them I wanted my money moved out of that fund. It shook my confidence in them for sure,” Ms. Ferraro said in an interview.

This is the predictable outcome when a low-cost provider raises venture capital and needs to grow rapidly. It either finds more customers or finds a way to make more money from each customer.

The Bottom Line

I believe Vanguard has the edge, and I invest through them.

But realize this: By the time you’ve narrowed down your investing decision to a low-cost provider like Vanguard or a robo-advisor, you’ve already made the most important choice of all: to start growing your money in long-term, low-cost investments.

Whether you choose a robo-advisor or Vanguard or another low-fee brokerage is a minor detail. Pick one and move on.

Written by Jason Michaels Last Updated: Nov 12, 2022

With a list of the best survey apps, you can easily make extra money while on the go or from home. The only difficult part is determining which ones are scam or legit.

Fortunately, we’ve done all of the work for you. We personally tested over 75 different apps to bring you the top 17. Below you’ll find which ones are the best, how they work and how much you can expect to make with each one.

And the cool part is that they’re all 100% free.

17 Best Survey Apps in 2022

Here’s a quick list of the 20 best survey apps.

1. Survey Junkie

Survey Junkie easily makes #1 on our list due to their high payout rate and also their ease of use.

You need a minimum of $10 to cash out, but it usually doesn’t take too long to reach this amount. In fact, I find that with the higher-paying surveys I can earn at a rate of around $10 – $15 per hour.

This of course depends on your demographics, as some users may earn more than others. You can redeem your points for free Amazon or Target gift cards and PayPal cash.

You also receive a 25-point registration bonus when you sign up as a new user. My favorite part about Survey Junkie?

Even if you don’t qualify for a survey, you still earn points just for trying. This means that you’re always going to be earning for your time.

Read our full Survey Junkie review for more details.

Quick Summary:

• Highest-paying on this list
• 25-point welcome bonus
• Cash out to Amazon, Target or cash via PayPal
• Survey Junkie Review

Try Survey Junkie Free

2. Swagbucks

Swagbucks is one of my favorite survey apps of all-time, and it’s not just because they have an excellent payout rate.

You’re also able to make money completing tasks that you do on a daily basis, such as watching videos, signing-up for free-trial offers, clipping coupons, taking polls, playing games, shopping online and of course, taking surveys.

They even offer a hefty $5 sign-up bonus. When it comes strictly to online surveys, I typically find that they pay about $5 every 30 minutes if not more.

When I run out of good-paying surveys, I simply switch to another task such as watching videos for some easy money. For each friend that you convince to join using your sign-up link, you earn 10% of their earnings for life.

Earn rewards that are usually given within a few days and there’s a $5 cash out threshold.

Read our full Swagbucks review for more ways to make money on this platform.

Quick Summary:

• Make money for more than just answering questions
• Redeem for PayPal cash, gift cards and physical prizes
• Low payout threshold
• Swagbucks Review

Try Swagbucks Free

3. Branded Surveys

Branded Surveys hasn’t been around as the first couple on this list, but that doesn’t mean they don’t have a strong reputation.

In fact, Branded Surveys is quickly making its way up the ranks as one of the highest-paying survey apps and websites out there.

I always find that I can earn cash at least at a rate of $10 per hour with this app. The more online surveys you complete, the more high-paying surveys that you’ll be rewarded with.

You must be at least 16 years of age to participate and you need to reside within the UK, US or Canada.

Payments can be made via PayPal cash. This is also one of the few that pays you directly to your bank account. You also receive a 100-point welcome bonus as a new user.

Quick Summary:

• Earn roughly $10 per hour
• The more you play, the more you earn
• Must be in the US, UK or Canada

Try Branded Surveys Free

4. LifePoints

LifePoints is one of the newer online survey apps out there, but they’re already proving their worth. Get paid to complete small tasks from your mobile device such as completing online surveys and doing daily challenges.

With LifePoints, almost all online surveys take under 10 minutes to complete. This means you never have to start and quit halfway through since most likely you’ll finish it quickly.

When you sign-up, you receive a 5 points bonus and a 15% booster. Earn points to cash out for a gift card of your choosing.

By using this LifePoints for just a few minutes per day, you’re most likely to be able to earn money at around $10 within a few weeks.

Quick Summary:

• User-friendly design
• Average survey takes 10 minutes or less
• Entered into sweepstakes if not eligible for survey
• LifePoints Review

Try LifePoints Free

5. Pinecone Research

Pinecone Research easily makes number five on this list due to their payout rate. You’re always going to earn a flat rate of $3.

Not only that, but I find that they only tend to take around 10 – 15 minutes, meaning I’m earning roughly around a rate of $15/hour.

The only downside is that there’s a limit to the amount of online surveys that you participate in. At most, I find that I’m able only to take one or two per week.

Sometimes I only receive one a month. You can turn on email notifications to be reminded of when new ones are available. Unlike the others on this list, I find that Pinecone Research tends to have the most interesting surveys.

You’re actually giving opinions about products and services that you most likely use on a daily basis. Rewards can take up to a week, and you need a minimum of $10 to cash out.

Quick Summary:

• Flat rate of $3 per survey
• Interesting market research surveys
• Cash out for PayPal, gift cards and prizes
• Pinecone Research Review

Try Pinecone Research Free

6. YouGov

YouGov is an online survey app that heavily focuses on gathering opinions about current events. Rather than simply completing surveys and taking away cash, YouGov is more like an online community.

Connect with others and hear their opinions about what’s going on in the news. YouGov only rewards you with gift cards and you only need a minimum of $5 to cash out.

I’ve found that YouGov has some of the most interesting market research surveys and polls that I’ve taken (for those of you interested in current events and politics).

You also receive a $2 cash bonus as a new user. For each friend that you refer that uses your link to register, you earn a bonus of 2,000 points (equivalent to $2).

Quick Summary:

• Referral program
• Sign-up bonus of $2
• Payout threshold is quite low
• YouGov Review

Try YouGov Free

7. InboxDollars

InboxDollars is a very similar to Swagbucks. Instead of simply earning cash by completing surveys, get paid to watch videos, refer your friends, complete free-trial offers.

The one task I absolutely love about InboxDollars is the fact that I can make money simply for reading emails. All you have to do is open them and you get paid for it.

When it comes to answering questions, I usually find that I’m earning at about a rate of $10 per hour. The minimum threshold to cash out is $25.

Payments are made either through cash via PayPal or gift cards.

InboxDollars also has an excellent referral program. For each friend that you refer you earn 10% of their earnings for life.

Quick Summary:

• Sign-up cash bonus of $5
• Easy way to make cash reading emails as well
• Excellent referral program
• InboxDollars Review

Try InboxDollars Free

8. Nielsen Computer & Mobile Panel

Nielsen Consumer & Mobile Panel is another easy way to make money and share information without the need to actually complete surveys.

Simply install Nielsen to your mobile device and earn up to $50 per year. The thing about Nielsen is that there’s an unlimited amount of devices that you can use.

This allows you to double or even triple your earnings. The only limit is on the amount of devices per area. Nielsen Computer & Mobile Panel is that it’s available in multiple countries.

Earn a passive income in Spain, Germany, China and many other places.

Quick Summary:

• Passive income earning
• Can install on multiple devices
• Can be used across the globe
• Nielsen Panel Review

Try Nielsen Free

9. PointClub

While the PointClub online survey app is only available for Android devices, iPhone users can still access it via their desktop computer or mobile browser.

They have one of the highest payout rates on this list. Expect to earn up to $15/hour, and you receive a $5 bonus as a new user.

PointClub has an awesome bonus program. For every 5 consecutive days that you log-in you earn a 10% bonus on all of your earnings up to a maximum of 100%.

However, miss a day and this resets back to zero. You need a minimum of $25 to cash out for either cash via PayPal or gift cards.

Quick Summary

• Excellent payout rate – earn up to $15/hour
• $5 registration bonus
• Fun surveys that are easy
• PointClub Review

Try PointClub Free

10. Prize Rebel

If you’re looking for simplicity, Prize Rebel is what you need.

With a Trust Pilot rating of 3.9 stars, Prize Rebel is one of those classic survey sites that primarily focuses on consumer market research in order to improve products and services for market research companies to help out major brands.

Since their inception, they’ve paid out more than $9 million and their users report this company being both legit and high-paying.

The thing about Prize Rebel is that they come with an excellent referral program. For each friend you refer, you receive 10% of their earnings at no extra cost to them.

You earn points that can be redeemed for a direct deposit to your bank account or for a gift card of your choosing. Read our PrizeRebel review.

Try Prize Rebel Free

11. MySoapBox

MySoapBox is well-known for their high-paying surveys and focus groups. Unfortunately, there aren’t that many surveys to around.

You can easily expect to earn up to $10 per hour. Since they don’t have that many online paid surveys available, we suggest signing-up for email notifications.

After the first time cashing out, there’s only a $1 minimum to cash out the second time.

The first time you need $25 to cash out, and the $2 bonus can definitely help you reach this a lot more quickly. Earn points that can be exchanged for gift cards to popular retailers, and you can take as many surveys as you want.

Read our MySoapBox review.

Quick Summary:

• Low payout threshold after the first time cashing out
• $2 registation bonus
• Surveys tend to be interesting

Try MySoapBox Free

12. Toluna Opinions

We still haven’t done a full review of Toluna Opinions, but from what we’ve experienced so far we only have good things to say.

You need a minimum balance of $20 for a direct deposit for cash to PayPal or gift cards. All cash rewards are given to you immediately.

Toluna comes with a $2 registration bonus and is available for both iOS and Android devices.

Toluna Opinions does an excellent job of telling you if you’re ineligible for a survey, usually telling you within the first question or two.

Expect to earn $1 – $5 per survey. Don’t forget to read our full Toluna Opinions review.

Quick Summary:

• $2 registration bonus
• Earn $1 – $5 per survey
• Payouts are made immediately

Try Toluna Free

13. Ipsos i-Say

The surveys you find on Ipsos i-Say are usually shorter than they say they are, so you’re never on there for as long as you think you are.

Available for both iOS and Android devices, expect to make around $8 – $10 per hour with Ipsos.

Each time you participate with the i-Say panel you’re automatically entered into one of their sweepstakes for a cool prize such as a MP3 player, gaming consoles or gift cards.

There’s also a tier system that rewards you for how many surveys you take.

For example, take 5 surveys and you’re automatically given a bonus of 25 points. Earn points and exchange them for a gift card of your choosing.

Read our Ipsos i-Say review.

Quick Summary:

• Tier system for frequent survey-takers
• Surveys usually shorter than what they say
• Automatically entered in sweepstakes

Try Ipsos i-Say Free

14. MyPoints

One thing that really sticks out to us about MyPoints is their large sign-up cash bonus of $10 that you receive after earning your first $20.

Aside from completing surveys, you also get paid to watch videos, play games, refer your friends, complete free-trial offers and more.

This is another short task site on our list. Assuming that you only take the higher-paying surveys, expect to earn around $8 – $10 per hour.

For their referral program, you earn a bonus when one of your friends earns their first $20. If you want to earn even more cash other than just by answering surveys, we suggest watching videos with MyPoints.

The payout rate is quite decent and they’re easy to watch. Check out our full MyPoints review.

Quick Summary:

• Other tasks such as playing games for money
• High registration bonus of $10
• High payout rate

Try MyPoints Free

15. Valued Opinions

The surveys from Valued Opinions pay quite high in comparison to other platforms and focus groups. Earn anywhere from $1 – $5 per survey, and you’re also told how much each survey is estimated to take beforehand.

Each time you take a completed survey you’re awarded with a certain amount of points. These points can be exchanged for gift cards to popular retailers such as Amazon or Macy’s.

Redemption can take as long as 48 hours for the gift card to arrive in your inbox, but I typically find them to arrive within 24. Expect each to take around 10 – 20 minutes to complete each questionnaire.

Quick Summary:

• You’ll always know how long each survey site will take
• Payout per survey is anywhere between $1 – $5
• Earn rewards for frequent survey-takers

Try Valued Opinions Free

16. Google Opinion Rewards

Google Opinion Rewards tends to be very easy to use when it comes to completing surveys. You can choose to turn on notifications for when new surveys are available.

Expect to earn anywhere from 25 cents to $1 when taking surveys. Most completed surveys only have 1 – 5 questions, so you won’t need to put a whole lot of effort into completing surveys.

You’re definitely earning at a high rate for the amount of work that you need to put in. Google Opinion Rewards is available in the US, Germany, the UK, Australia and Canada.

Each time you complete a task you’re given Google Play Credits. These credits can be exchanged for books, magazines, Google

Quick Summary:

• Available in a wide range of countries
• Incredibly short surveys
• Notification option for when new questions are available

Try Opinion Rewards Free

17. Qmee

Qmee was originally intended to pay your for your searches. Each time you make a search on a popular search engine such as Google, Qmee tries to match ads with your search term.

If there’s a match, a small window will pop-up. Click on one of the ads and get paid. It wasn’t until recently that Qmee added the option to complete surveys for cash.

My favorite thing about Qmee is that there’s no minimum payout. Even if you have as little as 25 cents you can request PayPal cash.

You even get a cash bonus of $1 when you register as a new user. Here’s a full review of Qmee.

Quick Summary:

Try Qmee Free

Summary

Which Survey Apps Pay Instantly and The Most?

The number one ranking factor for the list of the best survey apps is how much surveys pay. Therefore, the ones near the top of the list typically pay more (although this may not always be the case).

The top survey apps that pay the most are Survey Junkie, Swagbucks and LifePoints.

Keep in mind that some may pay you a different amount depending on the activity. For example, while Swagbucks will pay you for taking surveys, you can also earn cash from playing games and shopping online.

Helpful Guidelines For The Top Apps

Here’s some quick guidelines when it comes to choosing a survey app.

• Never pay. If you ever run across a survey site that requires your payment information to join, it’s most likely a scam.
• The payout rate. Obviously we all want to earn the most amount of cash in the shortest amount of time possible. Be sure to look at how much each questionnaire pays as well as how long they take to complete.
• When they pay. Each survey site has a different payout period. Some pay once per month, and others require to request your payout.
• The form of payment. Most reputable survey apps have multiple ways in which you can cash out, such as PayPal cash or gift cards.
• Minimum payout threshold. I’ve ran across sites that require you to have $50 in your account before you’re able to cash out.
• The device they function on. Unfortunately, there are some that are only available for either iOS or Android devices.
• Privacy. All of the paid survey apps listed here care about your privacy. All of the data that’s submitted is encrypted and kept anonymous.

How To Make More Money

Here are some common tips to maximize how much cash you earn when taking surveys from your phone or other survey sites.

Prevent Burnout with Paid Survey Apps

Back when I started participating in surveys I was really excited to put in as much effort as possible to maximize returns. However, dealing with 15 at a time can really start to wear down on you.

After about a month of intense work, I had to take almost a month off just to be able to put in the effort to participate in paid surveys once again.

Go For High-Paying Surveys

A lot of the platforms on this list have a mix between low-paying and high-paying surveys. In order to earn money at the highest rate possible, don’t even bother with the lower-paying surveys.

If you’re out of completed surveys that pay well on one app, move on to the next one. Your survey responses also determine what surveys you receive in the future.

Use Other Survey Sites

Taking multiple surveys is extremely important. Apart from the fact that there’s only a few high-paying surveys on each app, this helps prevent burnout as well.

Verify Your Email Address

Most of the time you’re going to be asked to verify your email address right after signing-up. Don’t forget this step.

Referring Friends For Most Paid Apps

Surveys pay you for referring friends, and it’s one of the easiest ways to increase your earnings with survey apps. Share your survey-taking efforts with friends and family and pass along your unique link via social media accounts.

Have Fun Getting Paid

Enjoying yourself when trying out surveys is an excellent way to help you stay motivated and earn more money. If you’re not having fun, you’re less likely to keep going. Test new apps, find your favorites, take paid surveys during times convenient to you.

Try Survey Sites For Money

Sometimes there won’t be an app for a particular survey site. We’ve put together a list of 17 best survey sites.

FAQs

Are Survey Apps Legit?

The most legit survey apps are Survey Junkie, Swagbucks and Branded Surveys. Legit companies always pay the correct amount and on-time. They also have an excellent customer service team in case you have any issues.

How Much Can You Make From Surveys?

The amount you can make from market research companies is based on many demographical factors and the site itself. Certain sites generally have a higher payout. Furthermore, factors such as your age and location can make a difference in the type of questions that are assigned to you.

Where Do the Top Survey Apps Get Their Money From?

Survey companies partner with companies in order to gather data. Your opinion is sent anonymously to specific companies in order to help improve their products and services. In short, survey apps work as a middleman.

Final Thoughts

Surveys are fantastic if you’re on the run or are waiting in line looking to earn money.

While not all of the surveys on this list may be suitable for you, it’s better to try as many as you can in order to see which ones work for you.

Although survey apps probably won’t make you rich, they do make for a side hustle to earn some extra cash and help contribute to market research at the same time.

It’s that time of year again which means one thing:

The internet’s #1 affiliate marketing training platform is slashing its yearly membership by an incredible 49%.

From Black Friday (Nov 25th) to Cyber Monday (Nov 28th), you have the opportunity to make a real investment in yourself and your financial future and make 2022/2023 your best year yet.

$299 Premium Yearly ($289 off), $499 Premium Plus+ Yearly ($689 Off)

By taking advantage of Wealthy Affiliate’s Black Friday Special you are getting access to a year’s worth of online business training, tools and expert support for just $299/year. That’s a phenomenal price!

You’re effectively saving a whopping $289 on your yearly membership, compared to paying $49 x 12 months. When you sit and work it out, that’s $25 a month or just $0.82 a day for everything you need to run a 5-figure-a-month business.

This deal is only available until midnight on Monday, so get in while you can!

Join Today And Get…

Wealthy Affiliate is the ultimate all-in-one affiliate marketing platform that gives you the strategies, tools and support to go from having no idea how affiliate marketing works to generating sales daily.

Take advantage of Wealthy Affiliate’s 49% Black Friday discount and you’ll get instant and unlimited access to:

1. The Online Entrepreneur Certification Course (50 Lessons)

At Wealthy Affiliate, you’re going to get the most up-to-date effective online business education. This 5 module core training course is designed specifically to walk you through the entire process of creating and growing highly profitable affiliate websites.

From learning how to choose a niche and how to keyword research, all the way through to finding the best affiliate programs, content creation and search engine optimisation, you’ll be building your business as you work your way through the lessons and actionable steps.

2. Affiliate Bootcamp Training Course (70 Lessons)

Complete the comprehensive Affiliate Bootcamp training program and you’ll be turned from a complete newbie into a full-time pro.

You’ll discover the very latest techniques and strategies for building a thriving affiliate marketing business and growing to scale.

3. Weekly Live Interactive Classes

Each and every week you’ll be invited to join a 1 hour live class taught by Jay, a leading online business expert.

Covering a wide range of topics from YouTube marketing and email marketing to website design and maximising conversions, you’ll learn what works and what doesn’t.

Each session also includes a live Q&A session so you can get expert advice and feedback.

4. Access To A Whole Library Of Expert Education (300+ Hours)

Every live class is available to watch as a replay and you’ll have unlimited access to over 300 hours of cutting-edge training and real-life case studies covering every aspect of running a successful online business.

This alone is worth 10x the cost of the Premium membership.

5. Expert Mentoring From The Founders

Unlike any other program I’ve ever seen, Wealthy Affiliate founders Kyle and Carson are always on hand and available to you for expert one-on-one support. Simply talk to them in the live chat area or send them a private message directly to their inbox and they will get back to you personally.

It always amazes me how quickly they get back to you, especially keeping in mind how many 100’s messages they must get each day. But this shows just how committed they are to your success!

6. Community Support 24/7/365

With 1.4 million members from 193 countries across the world, the Wealthy Affiliate community is always buzzing and alive with activity with people asking questions, getting answers, sharing their latest achievements and cheering each other on to success.

From Live Chat to the question and answer areas, 12 specific topic-related classrooms and private messaging, There is a whole multitude of ways you can get instant help when you need it the most.

You’ll find they’re a friendly bunch who are always ready to give a helping hand.

7. State-Of-The-Art Website Builders And Hosting

Rather than just telling you what you need to do, Wealthy Affiliate takes it one step further and actually give you the tools you need to get it done.

As part of your membership, you’ll have unlimited access to the beginner-friendly website builder, complete with 3,000+ WordPress themes to choose from, their domain platform as well as secure web hosting for up to 50 websites included as standard.

8. Around The Clock Technical Support

If you encounter an issue or have any questions about your websites, talk to the technical support team and they’ll get right back to you (average response time is less than 5 minutes!)

It’s reassuring to know your online business is in very capable hands 🙂

9. Jaaxy Keyword Research Tool

Jaaxy is the must-have tool every affiliate marketer should have at their disposal. Get limitless keyword ideas at the click of a mouse and you can create highly effective content marketing campaigns going forward.

With SiteRank you’ll also be able to assess exactly where your website is in terms on Google, Bing and Yahoo search engine rankings that ultimately give you a competitive edge.

Unbelievably, all this AND MORE is yours for the taking as part of your $299 membership if you sign up this weekend!

3 Reasons To Take Wealthy Affiliate’s Black Friday Deal

1. While Others Spend Now And Pay Later, You Get To Invest Now And Earn

Every year on Black Friday we see chaotic scenes in stores across the country as consumers rush to buy the latest appliances and gadgets they don’t even need.

It’s absolute madness.

Instead of maxing out your credit cards this year, you have a real opportunity here to invest in your online education and build a real online income with minimal investment.

You can either spend the next 12 months paying off your credit card debt or build an income-producing that will provide for you and your family for years to come. Which will it be?

2. Where Else Can You Build A 6-Figure Income For 82¢/Day?

Black Friday or no Black Friday, the Wealthy Affiliate membership represents unbelievable value for money.

Though owners Kyle and Carson have invested millions into constantly developing the platform, they haven’t changed their prices since 2005.

By opting into this Black Friday’s $299 membership, you’ll be grandfathered in at the $299 price, meaning even if they do increase their prices next year, you will still be able to get an additional year for $299.

For less than the price of a coffee a day, you can take your passions and interests and turn them into a thriving online empire, and with 2020 set to be the biggest year ever for affiliates, you owe it to grab this opportunity with both hands.

3. Seriously, If Not Now Then When?

How long have you been dreaming about making money online?

When handed a roadmap to success, will you take it or let this opportunity pass you by? (This may well be the last time Wealthy Affiliate offers this level of discount.)

Believe in yourself enough to invest in yourself and who knows where you could be in 6 months, 1, 3 or 5 years from now!

Wealthy Affiliate Changed My Life (Understatement)

Hi, I’m Simon and I joined Wealthy Affiliate as a Free Starter Member in March 2015 and I’ve never looked back.

Back then I was working a call centre job I hated and living in an upstairs bedroom of my mum’s house.

I had always dreamed about travelling the world and even made it to Thailand a couple of times, but I always had to come back to the UK to work and save up money so I could go back again.

To stop simply dreaming about living the life I wanted, I knew I had to take action.

I needed to learn how to create income-generating websites that I could run from anywhere in the world.

I needed to tap into the limitless earning potential the internet gives anyone willing to learn and put in the work.

So when I somehow stumbled across the Wealthy Affiliate training platform I was driven, motivated and hungry for success. I dived into the training modules and started building out my first-ever website.

Then it happened:

My first-ever sale – I was over the moon! (I blogged about here)

That was enough to keep going, so I upgraded to the Premium Membership and over the next 12 months I built a $2,000/month income stream from one website alone.

I decided it was high time to break out of my tiny call centre cubicle, kiss my boss goodbye and book that one-way ticket to Thailand – so that’s exactly what I did.

Since then I’ve:

• Built several profitable affiliate marketing sites
• Achieved my first $1,000 day (twice in the same week!)
• Consistently earned over 6-figures a year for the last 3 years
• Travelled to Cambodia, Laos, Philippines, Rwanda and Turkey
• Qualified for an all-expenses-paid Wealthy Affiliate Conference in Las Vegas
• Planning to marry my Thai fiancé in February 2020

All this has been made possible because I made the right decision to invest in Wealthy Affiliate’s training and put in the work to apply it…

I say this not to brag, but to prove that if you are ready to take action, Wealthy Affiliate will give you a clear roadmap to follow that actually works.

Can I Read The Success Stories Of Other Wealthy Affiliate Members?

Will Wealthy Affiliate Work For You?

If the step-by-step process laid out in the core training modules worked for me and has worked for countless others, then absolutely Wealthy Affiliate will work for you!

If you’ve got the drive to succeed then Wealthy Affiliate will give you a tried and tested roadmap to success and guide you every step of the way.

Old and young, experienced and inexperienced, the Wealthy Affiliate training has been proven to work for college students, stay-at-home mums, 40-somethings and retirees.

Most Wealthy Affiliate members fall into one of these three categories:

ASPIRING ENTREPRENEURS READY TO TAKE ACTION

Has it always been your dream to build a lucrative online business you can run on your own schedule, reach a truly global customer base and generate sales around the clock?

Wealthy Affiliate will show you the practical steps that will give you the strongest start possible and show you the practical steps you need to take to make it happen.

BEGINNERS WANTING TO ESCAPE THE 9 TO 5 & SACK THEIR BOSS

Deciding to take the leap and start my own business has been one of the best decisions I’ve ever made and one of my proudest achievements.

Even if you’ve never created a website and have no idea what SEO is, with Wealthy Affiliate’s over-the-shoulder training you’re in good hands.

SUCCESSFUL AFFILIATE MARKETERS LOOKING TO TAKE THEIR INCOME UP A GEAR

Already have a website?

Ready to take things to the next level?

Wealthy Affiliate will help bridge the gap.

The training will teach you proven marketing strategies to maximise your affiliate income.

Your Success Story Starts With The Next Step

“You will never leave where you are until you decide where you’d rather be.” – Dexter Yager

Now if affiliate marketing is genuinely not right for you, I respect that, but if it is and you really want an online business generating sales for you around the clock, then you essentially have 3 starting options:

1) Create your Starter account and test drive the platform for free and see if it’s a good fit.

2) Go For Premium Monthly at $49/month

3) Grab the Wealthy Affiliate Black Friday special for full access at a 49% discount.

Moving forward with any of these is going to give you a real advantage over other people trying to launch a successful affiliate marketing business without a structured training program and 24/7 support.

Wealthy Affiliate Black Friday FAQs

Q. Exactly how long will the 49% Black Friday discount be available?

A. The offer starts on Black Friday and runs until midnight on Cyber Monday (Nov 25th – Nov 28th 2022)

Q. Is this deal going to be offered again?

A. This offer has run for a few years now so I imagine it probably will be, but there are no guarantees, especially when you keep in mind they haven’t raised their prices since they first launched back in 2005. This could very well be the last year you can ever get this $299 rate.

The good news is, once you sign up for the Black Friday deal, you’re membership costs will always remain the same for as long as you’re a member, even if Wealthy Affiliate put their prices up.

Q. Can I cancel at any time?

A. Yes, absolutely. You are in full control of your membership and can cancel at any time.

Should you, for any reason, choose not to go ahead with renewing your membership next year, simply login to your account, go to account settings and cancel your subscription.

Q. I am already yearly, can I take advantage of this offer?

A. Yes, You definitely can. Your membership will be pro-rated based on the time that you have left on your membership, regardless of which membership you choose.

Q. I am a past Black Friday member, will I be subject to a price increase this year?

A. No. Once you purchase a membership at a given price, you will have the ability to recur at that price in subsequent years. So you are not subject to a price increase, EVER!

Q. I am a Black Friday member from past years, and I want to upgrade to Premium Plus+. Can I downgrade next year back to my current Black Friday Premium price if I want, or will I be subject to a price increase?

A. As a current Black Friday Premium member, you can upgrade to Premium Plus+, and then downgrade to Premium next year and you will be grandfathered into your current Black Friday pricing. 🙂

Q. Can I upgrade to Premium Plus+ from Premium, and then go back to Premium at another date?

A. Yes, you can upgrade to Premium Plus+ from Premium. It will be discounted by the time left on your existing billing. You can then downgrade to a Premium membership next year.

Q. I am on a tight budget, so I need to get funds in order. How long is the promotion?

A. 4 days. The Black Friday offer runs from noon on November 25th, 2022 (Friday), through ’til midnight on November 28th (Monday).

Q. I want to upgrade to a yearly membership right now, should I do that or go ahead and wait until this offer?

A. You should wait until the offer.

Q. Can I buy multiple year’s at once?

A. At this point, you can only buy one year at a time. Do know that you will be grandfathered in at the price that you pay this year, in subsequent years.

Q. Is this going to be offered again?

A. We don’t know and likely not in the same format this year (and maybe not price point). We have a lot of awesome stuff coming in 2021 and with that may come some changes to the pricing. We typically have an offer once per year on Black Friday, but we cannot make any guarantees on next year’s offer.

Q. Can all levels of membership take advantage of this offer?

A. Yes, Starter, Premium & Premium Plus+ members will be able to take advantage of the Black Friday offer and get all the bonuses.

Q. What happens if I just paid my monthly membership, what will my cost be?

A. If you are a Monthly Premium member, your Black Friday pricing will be pro-rated based on the time you have left on the monthly billing cycle. For example, if your recurring date is on November 25th for $49 and on the 27th if you decide to upgrade, it will be pro-rated based on that and will likely be around $395 or $795 – $46 = YOUR PRO-RATED PRICE.

Q. I’m already grandfathered in at the Black Friday price from last year. Can I still get this year’s Black Friday bonuses?

A. Yes, if you are a recurring Black Friday member you will also get access to ALL of this year’s bonuses.

Q. How are the bonuses delivered?

A. All bonus details will be sent to you immediately upon upgrading to the Black Friday offer. This includes the exclusive live class schedule, as well as anything that is downloadable, will be available right away!

Q. Why are you guys so awesome?

A. Well… (I made this question up LOL).

Q. Can I promote this offer and earn $$?

A. Absolutely, in fact, this is our most lucrative opportunity of the year for affiliates. Each and every person here has an affiliate link that they are going to be able to utilize to actively promote this offer. You can find this directly on the Affiliate => Program Details page.

Want to find out more? Check out these helpful articles for details:

Got Questions About Wealthy Affiliate’s Black Friday Sale?

Got any questions before starting out on your online business journey? Scroll down and ask below and I’ll be sure to get back to you personally.

If you’re an existing member, will you be taking part in the Black Friday offer and if so, why? I’m really looking forward to hearing from you 🙂

Simon Crowe is the founder and editor of The Make Money Online Blog on a mission to help as many people as possible kiss their bosses goodbye.

Watch this video here to discover how to smash your online income goals and make your dream business a reality.

When COVID cases began making the news, the widespread effects were nearly instantaneous. Suddenly, workplaces were being shut down, entire countries were placed on lockdown, and millions of people suddenly found themselves confined to their homes.

With such a major lifestyle change forced upon them, it’s no surprise that the number of people working from home drastically increased. Nowadays, workers are returning to the workplace in droves, but if there’s anything COVID taught us, it’s that you can make money by working from home. In this article, we’ll be going over exactly how to do that!

Time: Your Main Obstacle

Whether you already have a full-time job or simply want to work for yourself, proper time management is key. The amount of time you have available each day will largely determine what opportunities are available to you. Some side gigs from home can be extremely profitable but require a huge time investment.

On the other hand, some money-making methods yield smaller profits but can fit into nearly any schedule. Your primary goal is determining how much time you can reasonably invest every day into your side gigs from home. Once you’ve figured this out, you’ll be able to start considering the available opportunities. 

Inefficient Methods

There’s an old saying: “If something sounds too good to be true, it probably is.” Unfortunately, there are many “side gigs” that fall under this category. One such example is survey sites! There are many online websites that offer to compensate you for completing various surveys. Many of these are legitimate websites, but you won’t be making a sustainable income.

Generally, these sites only provide limited surveys that an individual can actually qualify for. Even after the surveys have been completed, individuals usually have to meet a pre-set quota before they can cash out their earnings. If you see an online “opportunity” that seems promising, we recommend doing a lot of research before investing any time in these potential side gigs from home.

Away-from-Home Options

Millions of Americans decide to take a second job, either for additional income or out of necessity. Thanks to the increasing popularity of ride-sharing and delivery services, picking up a second job no longer requires dedicating yourself to a set schedule. Instead, services like DoorDash and Lyft will hire you as an independent contractor! This arrangement allows you to work when you’d like, as much as your schedule—or your patience—will allow.

However, working as an independent contractor for these types of companies does have some downsides. Although the earning potential is high, so are the unseen expenses. You’ll be responsible for the maintenance of your vehicle and fuel costs, both of which heavily cut into your earnings. Ultimately, the viability of these side gigs from home depends on your location and the generosity of your clientele.

At-Home Endeavors

Fortunately, working out of your home offers far more opportunities. For the artistically inclined, selling products using one of the many online marketplaces could be an option. Websites like Freelancer.com allow individuals to sell services to interested customers, via bidding or direct contracts.

Platforms such as Patreon and the infamous OnlyFans enable influencers to capitalize on their content, providing interested parties with exclusive content in exchange for a subscription cost. With all of the opportunities available online, nearly any type of product, service, hobby, or passion can be turned for a profit!

Utilizing Your Additional Income

For many, simply receiving an extra paycheck is the end goal. However, this mindset severely limits the potential of your additional income! If possible, we recommend investing your additional income (rather than spending it right away).

Putting these funds into a savings account might seem like a smart option, but these accounts almost never outperform the general market. This means that your money will actually lose value over time! Investing can easily outperform the market, which is why we recommend this alternative instead.

That said, investing successfully requires knowledge, strategy, and patience. It’s certainly possible to make a large profit in a short time, but this involves dealing primarily with volatile assets that can easily lose all of their value. Investing in low-volatility assets is much safer, but it will take some time before you see substantial profits.

Experienced investors will be able to select the best assets on their own, but newer investors should look at subscription services. These services will tell you exactly what assets to invest in, enabling you to turn your extra income into significant savings. Some services will even invest on your behalf, essentially automating your investing journey.

The Allure of Side Gigs from Home

Ultimately, selecting a side job, starting your own business, or profiting off of a hobby all have one thing in common: they take time and commitment! Your first priority is finding something that you can perform consistently.

Even if the profit margins aren’t much, investing this money will allow you to significantly increase your money’s potential. This income is secondary, so you should treat it as such. With the proper approach, time, and patience, today’s dime can become tomorrow’s dollar!

You’ll usually see vending machines around commercial buildings, hotels, streets, gyms, schools, etc. 

You might not know that you can make good money by starting a vending business. 

Some of you may have a full-time job but can use a side hustle to earn extra, and this idea might be it. 

If you’re searching for a business venture that doesn’t need much of your time and effort, you should consider it. 

You won’t need training or exceptional skills to be a qualified vending machine operator. 

Vending machines as passive income generators are slowly becoming a great idea because it’s easy to manage. 

However, you should know the right way to start this business. 

In this post, you’ll read about the hows of a vending machine business. 

How Does a Vending Machine Business Work?

Vending machines work like retail shops, but the only difference is that they are automated shops.

Owners stock their inventory into their machine and make it available, usually 24/7, unless there’s a problem with the device. 

The usual products in a vending machine are beverages and food, but people are more creative these days. 

You’ll see vending machines filled with makeup, toiletries, a whole meal, flowers, and more. 

The machine works by dispensing the item after the customers pay and press the button of their respective product. 

As the demand for vending machines grows, you’ll find more variety of devices around the streets now.

They don’t drop the items anymore, as some can dispense a cup, and the machine fills it with your hot or cold brew. 

Some owners even add colorful designs, unique items, entertaining sounds, and other gimmicks to attract more customers.

Various payment methods are available nowadays, such as cashless payments, instead of the usual bills and coins. 

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What is the Business Model of a Vending Machine? 

Before diving into the vending machine business, it is essential to know the business model it follows. 

The retail industry, of which vending machines are part, is fast-paced worldwide. 

It makes vending machines an excellent business opportunity because people can earn without supervising their business. 

However, when choosing the type of product you’ll sell, it must cater to the daily needs of consumers. 

Most other types like this can be expensive upfront, but they are easy to maintain, saving you more in the long run. 

Despite its simple business model, you may need to remember that it requires planning.

For example, the business capital you’ll need may be costly at first because you need to pay for machines, inventory, and permits. 

However, you can secure loans or deal with an excellent financial institution to help start your business.

As an owner, you’ll want to be actively managing your vending machine to interact with customers at the start of its operations.

If you offer meals, juices, and sodas, you must ensure that you sell top-quality products. 

So as much as possible, always fix technical issues immediately if your machine breaks down during operations. 

It would be best to repair your machine because the more customers you miss every minute it does not work. 

Additionally, it is preferable to have your product suppliers nearby so they can quickly deliver stocks. 

Finally, you must keep your business safe from accidents or crimes because it can be a considerable loss. 

You’ll need to invest in CCTV cameras, business insurance, or a security guard to watch your machine. 

How to Start a Vending Business?

If you find the vending machine business something you want to try, you need to be hands-on with it. 

There is planning, research, and decision-making on the business owner’s part. 

This part will show you how to earn passive income with vending machine businesses.

Pick Your Business Structure

Like any other business, vending machines must follow legal and tax obligations.

By choosing a business structure, you can earn legally and possibly, expand soon. 

Some legal structures are sole proprietorship, partnership, limited liability company (LLC), and corporation. 

If you want multiple machines, you may consider being an LLC so you can make a profit legally and collect costs on your taxes.

There will be an assigned agent that can act as your company’s representative for your business. 

Aside from it, you may also need permits and licenses to operate in your chosen location legally. 

Once you know where you’ll put up machines and your structure, you can easily do paperwork. 

Think What Your Market Is

There are different vending machines depending on which market you want to hit.

The food and beverages section is the most profitable type because the general public buys it daily.

So if you want two or more machines with snacks and beverages, place them in busy areas with different products.

Aside from meals, there are also random objects, for example, toys, that you’ll see in vending machines. 

You usually insert coins and turn the knob to dispense your goods like toys or gumballs. 

They are cheaper and easier to maintain because they are manual, meaning they don’t use digital keypads. 

Knowing where to set up this vending machine can be your perfect income source. 

Finally, you also have a specialty vending machine that has unique products that you won’t usually find in a vending machine. 

It can be anything from electronics, gourmet meals, flowers, gifts, ice cream, and more. 

The markup is a little high because they are premium products, so you need to consider that fewer people may use them. 

However, you can earn a higher income if you have the right place for the general public. 

You’ll want to choose students, office workers, or people in the hospital as your target market. 

These people usually need something on-the-go because they are in a rush.

Setting Up in the Best Locations

As much as the customers are critical in a vending business, you also need a good location to sell better.

If you set your vending machine in a school, putting candy, snacks, and beverages should make sense.

If it is in a gym, it can help to have a sports bar, energy drinks, and light gym equipment. 

Dormitories or apartment complexes can use a machine with different detergents and fabric softeners. 

Most of the time, these locations are the busiest they can get because people want to grab something convenient. 

You can also check out factories, train stations, hospitals, airports, bus stations, malls, hotels, and more. 

Also, you can put your machine anywhere because you have many options.

You need to talk to the property owners and discuss agreements to avoid complications when you start your business. 

Once you know where to stick your machines, try contacting the managers to see if you can have them on their property. 

Choose the Right Type of Machine

Vending machines have different types depending on your products and how you want them to operate. 

First, you have the bulk machines where you can usually see gumballs, sanitary pads, and chocolates stocked inside. 

You only need at least one dollar to dispense the product you want in bulk in that machine. 

It is cheaper because you can thrift a bulk machine for at least $50 and then stuff it with your products. 

Second, mechanical machines are the usual vending machines that accept bills and coins.

You can usually spot the twisting ring inside that pushes out your item when you insert your payment. 

They are larger than bulk machines and can store different items.

These vending machines typically cost a thousand dollars or more. 

But you can quickly get your returns because it is more profitable than a bulk machine. 

Finally, the recent version of vending machines is in the form of electronic ones. 

Because of its latest technology, you can expect an electronic vending machine to be more expensive than a mechanical one. 

It has a touchscreen feature and can accept cashless payments like credit cards.

It can also have more premium product choices like higher quality food so that the cost can be higher too. 

You can transfer the payments directly to your account, but ensure they don’t charge hefty fees. 

Fill Your Machine

It is easy to stock up on inventory, but you also need to know how to stock items properly using a system.

You can research trends, like what people like to eat or what new products are to sell, so that it can keep up with the demand.

It is your choice whether to hire someone to do it for you or you can do the job yourself. 

A good example is that more people are health conscious and would look for healthier options.

So think of healthy snacks to fill up your machine and what products they usually prefer to eat.

For snacks and other items you’ll purchase in bulk, it is best to have a go-to wholesale supplier to get discounts. 

The cheaper you get your stocks from your suppliers, the more profit you’ll earn in the long run. 

Try Different Financing Options

Vending machines are costly upfront, mainly because of the devices, but some options are cheaper. 

You can start this opportunity with small starting capital to avoid spending six digits on your initial costs. 

As mentioned, machines can cost up to a thousand dollars which isn’t a tiny amount. 

If it still doesn’t fit your budget, you can try getting a loan to help you fund your starting capital.

You can secure a short-term loan if you have a business financial history that can back you.

Lenders will give you a lump sum then you can pay the loan with interest depending on the discussed terms. 

However, you usually have shorter repayment, usually barely two years, with higher interest. 

But you can easily qualify for a short-term loan compared to a long-term one, so it is as best as possible. 

Before your approval, lenders will review your business’ financial documents.

The better your business history, the better your chances of getting their approval for your loan. 

Another option is the equipment financing loan that lends you a certain amount depending on how much your equipment is. 

The equipment or machine can also be collateral if you fail to make your loan payments. 

As long as you know how to sustain the machines correctly, they can last for years, allowing lenders to trust you more. 

So if you want to get off this loan, you must prepare your business plan, equipment quotes, and financial documents.

If you also need funding for your inventory, there are also inventory financing options that you can consider. 

How To Buy Vending Machines?

Buying a brand-new machine is the best way to start a vending machine business with a budget. 

This way, you can easily find locations for yourself and contact property owners to occupy commercial spaces. 

However, you can also buy pre-owned vending machines so you can have a better grasp of the machine’s history. 

There could be technical issues with the machines that you’ll have to fix immediately. 

It could be better to sell them because the owner is deciding to quit the vending machine business. 

But still, some technicians can access the problem of the machines so they can start working properly. 

You can also consider being a franchisee from an established business, so you don’t need to prepare for a lot.

Most of the decision-making will come from the franchisor, but they’ll benefit from your earnings. 

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Are Vending Machines Making Money?

Vending machines are underrated but very lucrative as long as you do your homework. 

Many people will patronize your machine if you can get your supplies at the lowest prices.

In the long run, you’ll earn their trust and more money because of satisfied customers with only a little time and capital. 

Do You Pay Tax if You Have a Vending Business?

Vending businesses need to pay taxes like how food, drinks, and other product sales have tax obligations when exceeding ten cents. 

Furthermore, the vending machines can also include taxes along with the location that the owner rented. 

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Conclusion

Vending machines earn an overwhelming amount yearly, even up to billions, without you realizing it. 

Now may be the right time to break into this profitable industry so you can make at least $1000 for vending machine income. 

Business owner earns more with careful market research and location research, taking business risks, and making vital decisions. 

And when you feel like you already know the patterns of running a vending business, consider expanding. 

Slowly, you can start investing in more vending machines without getting a loan and possibly make it full-time. 

So if you are still considering starting a vending machine as a passive income venture, this post is your sign.