Residual Income Online - Surveys, Product Testing, Loyalty Shopping

My friends and family are frugal shoppers - always looking for the best bargain. They use coupons, take advantage of sales and buy in bulk. In the past 5 years or so they've also discovered Internet. They have amassed a collection of online accounts at various websites that offer deals, but after many years we have narrowed it down to the juicy ones and this report is our results.

Residual Income?

The reason I say "residual income" is because none of these methods will make you rich, nor amaze your friends. Take a good look at the earnings of each method. Often they pay in a points system or only payout cash after a certain amount has built up. At best this is mad money or extra spending cash or bonuses - not a hot addition to your budget, or a fix for an income crisis.

Loyalty Programs

Sites that offer you rewards via points for buying from vendors on their lists are called loyalty programs. For your loyalty in buying or at least shopping from their vendors they will grant you a number of points. These points can be cashed in for rewards - items, gift cards or certificates.

Mypoints is my family's favorite. Every time you receive an email from them and read it (opening it) you receive 5 points. The technology behind this is the graphics and links in the email tell the site that YOU opened the email because it loaded a graphic inside your email program. If you actually click on a link and visit the website they are promoting, cha-ching another 5 points. If you actually BUY anything you can expect usually a 1 point per $1 spent ratio. If you do plan to buy something through this method do it right after clicking on the site through the email. If you leave the site and come back later you may miss out on the deal because the cookies in your browser no longer see you as a Mypoints member.

Every family member that has signed up, is still a member after many years. Personally, I have taken my wife to her favorite restaurant on a gift card at least once per year. Sometimes we opt for a different type of reward and try something new. Occasionally we get a Target or Walmart gift card and it does help with normal everyday purchases. You can expect a useable reward every 6 months or so - although it may only get you a couple of Starbucks gift cards. The list of reward vendors is about as long as the vendors they promote. Surveys also creep in from time to time. You can also donate your points to worthy causes. Mostly the emails promote a mundane product or service, but if you do not want gambling or smoker's product promotions be sure to turn those off in your personal settings.

Surveys

Surveysavvy.com is probably my favorite because they have paid me the most in cold hard cash, okay maybe checks. The surveys are long and most are entering to win a cash prize, but sometimes it is worth $10 to $30 per survey. The checks usually take 2-6 weeks to arrive. In the 3 years I have personally been a member, I have earned approximately $250. The surveys are normally tailored, completely online and pleasant.

Mysurvey.com is probably my least favorite since it does not produce much in the way of rewards. Their rewards are limited, the surveys are long and far between. The rewards are points that convert to very specific merchandise that honestly does not appeal to me personally. However, if you are truly bored why not spend the time? Only twice so far have they sent me a product to test personally. Often their surveys are ads that promote pre-market products or movies. So if you like to be in the know before products come out, this might be worth your time. The surveys are also well tailored to your situation. You will not receive menstrual cramp surveys if you are a 40 year old male. Although I have been a member for several years now, I have only collected one reward and may soon be collecting my second in the form of an online gift card.

Gozing.com is a survey company that utilizes GreenField survey systems and has recently dropped from my list. The surveys are usually quick and pleasant, but recently the rewards have dropped to $1 for a survey. Years ago when I started I could expect $5 to $20, but those opportunities have died out. I cannot remember the last time such a reward was available. I have unsubscribed from their emails, but do occasionally check my account online for anything interesting. Historically I've earned nearly $140 over the course of 18 months. A recent check on my account revealed yet another survey ready for me, but my reward is $0. Why bother? Going through GreenField seems to be a better deal. I do know the surveys are more pleasant.

Conclusion

Take an honest look at what your time is worth. Are you paid $9 per hour for a receptionist job? So your time is worth $9 per hour. You can sit and take surveys for hours and not earn $9. I have never heard of taking surveys AS a full-time job, other than in flashy banner ads. If you sit all day as a receptionist in front of a computer on Internet where you can access your email and the survey sites and it is not against your company's policy, and earn your $9 and a few dollars taking a survey.