Making A Difference and Money In An Economic Downturn
We’ve all been affected by the recent downturn in the global economy. With grim unemployment figures, layoffs, and continued political uncertainty, many are scrambling to find alternative sources of income to make ends meet. Even for those with a steady job and paycheck, the stagnant economy has forced many to cut back and figure out creative ways to further stretch their wages.
The time-tested method of cutting household expenses such as cable television, health club memberships, and extra luxury expenses (that daily trip to the coffee shop, for example) has always helped reduce the monthly budget. But while it’s true that many expenses may not be essential to daily routine, it’s often difficult to part with some services to which we’ve grown accustomed. Some services such as cell phone or internet service have actually become essential tools in job search and income building during hard economic times.
One way of reducing expenses without cutting essential services has traditionally been coupons. Many families find that a combination of coupons and store loyalty programs can help greatly reduce the monthly grocery bills. In fact, frugal use of coupons and effective store promotions (such as double coupons or fuel discounts) can reduce the household grocery budget significantly. Although the savings can be substantial, however, these are still methods that simply reduce the amount of out of pocket expenses — reducing spending, not increasing income. When times are especially tough, it helps to find alternative ways to add additional income into the household — And sometimes it takes some creative thinking to get the job done.
One source of additional income has increasingly come from participating in paid online surveys. The money that paid online surveys can generate certainly isn’t enough to supplement a part time job (and no reputable survey company would claim so), but it is an excellent source of extra “found” money that can make a substantial difference at the end of every month. For example, a solid month of participating in quality surveys could easily generate enough extra income to pay a month’s worth of utilities — imagine subsidizing your home’s monthly electricity bill entirely simply by offering up your opinions on popular goods and services!
There are many online survey companies that will match appropriate surveys to your market profile. When you register with a paid survey company, you’ll be providing them with valuable information that they will use to match your profile with their client’s needs. Major companies contract with these market research firms to help shape their own marketing, product launches, and advertising efforts.
Once you’ve registered, the survey companies will contact you from time to time with survey invitations. The email will include the details and incentive for completing the survey and a link to follow to complete the survey. You’ll be asked to answer questions about the client’s product or service, and the results will then be compiled by the survey company and reported to their clients as part of the larger market research study. Paid surveys are anonymous, and your personal information will never be shared with the companies hiring the survey firms.
Payment is then made to you, generally by PayPal or through a check. Occasionally payment can be made in the form of a gift card or merchandise, but all payment details will be provided to you upfront in the original invitation — and you always have the option to decline an invitation for a survey.
Reputable paid survey companies are an excellent way to supplement your income during lean times. Simply by answering a few questions, you’ll be providing companies with valuable market research — and adding an additional stream of income to your own household budget as well!
So what are waiting for? Join and make money taking surveys. It is free to join and participation is voluntary.
Here are few recommended survey panels to join: