Do you remember the time when online surveys were all the rage, promising a quick way to earn money on the internet? While the trend has faded over the years, some individuals continue to dabble in this form of digital income. But is it still a worthwhile pursuit, or just a relic of the past? Let’s delve into the world of online surveys to determine if they offer a viable way to earn extra income today.
Earning Very Little Money
Let’s address the elephant in the room: the income potential from online surveys is limited, to say the least. In their heyday, some people managed to amass respectable earnings, which allowed them to splurge or save while living at home. However, the landscape has changed, and the sums you can now earn are meager.
To make a substantial income from paid surveys, you must invest a significant amount of time and effort. This isn’t a problem if you treat it as a job, but initially, the returns may be disappointing. Moreover, participating in surveys isn’t a limitless activity, and your eligibility for personalized surveys can be limited, especially as a Spanish user.
Doing the Math
In Spain, the Minimum Interprofessional Wage stands at 7.88 euros per hour. Ideally, you would aim to match or even surpass this hourly rate through paid surveys. However, achieving this is highly unlikely. Not only is it challenging to find surveys that pay at this rate, but maintaining a consistent flow of high-paying surveys is equally difficult.
SurveySavvy, for example, offers surveys that take around 10 minutes and pay $1 each. In theory, you could earn $6 per hour, which doesn’t sound bad. However, finding enough surveys to sustain an 8-hour workday would be a challenge due to the limited availability of surveys. This is where diversifying across multiple survey platforms becomes crucial.
Not all survey platforms offer the same payout rates. Some may pay a few cents per survey, and while these surveys are short, the earnings are minuscule, especially when the platform provides only a handful of surveys each day.
Transparency and Realistic Expectations
To provide more transparency, many survey platforms now offer estimates of potential monthly earnings based on survey participation. For instance, Survey Junkie mentions an average monthly profit of $40—not a fortune. Meanwhile, Swagbucks suggests potential annual earnings of $1,825. However, achieving these earnings would require consistent and dedicated survey participation.
In conclusion, while it’s possible to continue earning money through online surveys, the amounts are relatively low, equating to an hourly wage of around one euro. In today’s landscape, the financial returns might not justify the time and effort invested.