Paid online surveys: Are they worth it?

If you have some extra time on your hands or you're simply looking to make a few more bucks, then you may want to consider paid online surveys. With paid surveys, you can earn money without leaving the comfort of your own home. 

Plus, it's not as time-consuming as some other passive income stream options out there nor does it require any financial investments — like investing in stocks or a rental property. 

You simply have to create an account on a legitimate, secure market research site, fill out a questionnaire about yourself and start taking surveys. On most sites, there's no limit to the number of surveys you can take and you can exit a survey whenever you want (though you'll need to complete a survey fully to earn rewards).

The process is straightforward and simple. Answer surveys and polls honestly and earn points, which you can turn in for cash or other rewards such as gift cards. If you have some extra time to spend, start taking surveys for money now!

Is it worth it to do paid surveys?

The job itself is easy, but is it worth it? Well, that depends on what your goal is. 

The rewards you can make from paid surveys vary, depending on the site you're using, the time you have to dedicate and the number and types of surveys you qualify for. Here are some questions you need to ask yourself:

• How much time are you willing to dedicate? Simply put, the more surveys you take the more money you can make. See how many minutes or hours you're willing to spend on surveys and how many you can complete within that time frame to get a better idea of how much money you can make. Some surveys have dozens of questions, so be prepared to put significant time in.
• How much money are you looking to make? Some people can make a hefty sum by taking surveys, but that isn't the norm. Don't expect to get rich quickly or replace your full-time income by taking paid surveys. For example, Survey Junkie says you can make up to $40 per month if you take three surveys every day. 
• How quickly do you need the cash? Most online survey sites use a points system. You take a survey, you earn points. In order to "cash out" or get a gift card, you'll need to redeem the points you've earned. Some sites require that you earn a minimum number of points before you're able to redeem them, which could take a while.

If you have time to spare, then give online surveys a try. Create a free online profile to get started.

Many reviewers of paid survey site Swagbucks, for example, said it's a great way to help with costly holiday shopping and pay for groceries, though some mentioned that it's not always easy to qualify for surveys or to meet daily goals. However, it appears most agree it's worth the hype. Swagbucks received 4.3 stars out of 5 from nearly 30,000 reviewers on Trustpilot, a consumer business operating a review website.

"You won't get rich taking surveys and it's not meant to take the place of a full-time job but it can supplement your income and give you a little extra flexibility in your budget," another market research site, Survey Junkie, adds.

Again, if you're looking to make significant money to supplement your income, then you may want to consider a higher-paying side hustle that can sustain you long-term. You may also want to seek other options if you want to lower your screen time, want a consistent paycheck, or don't want to put in the time. There's also always a privacy risk when it comes to sharing information online, so make sure you carefully read each site's terms of service and privacy policy before signing up.

How much do online surveys really pay?

When it comes to online surveys, one price does not fit all. The money you get paid per survey varies based on the type, length and offer. You can make a couple of hundred dollars or a couple thousand per year, depending on your time and effort.

Most online survey sites use points, which you earn by taking surveys, polls, playing trivia games or more. Once you meet a certain threshold of points, you'll be able to trade them in for cash or gift cards.

Here's what some popular paid survey sites say about potential earnings:

• Swagbucks: "Most Swagbucks members should be able to earn $1 to $5 a day (or $365 to $1,825 a year). There are some offers that pay $50 to $250, but on a typical day, earnings could average out to $1 to $5 a day," Swagbucks states on its website. There are different levels you can reach based on your total earnings. Hundreds of participants have reached the rare diamond-level status, which means they've earned over $20,000, according to Swagbucks. Learn more about Swagbucks and how you can start earning money now.
• Branded Surveys: "If you want to make the most money possible completing surveys, your best strategy is to be honest and factual while completing as many surveys as you can. Regardless of the payout threshold, even small amounts add up over time. Most surveys at Branded pay between $1-$3, "although we occasionally have opportunities for much higher earnings," Branded Surveys explains on its website, claiming that it's "undoubtedly one of the best and highest paying survey sites online." You can create a free profile on Branded Surveys within minutes.
• Survey Junkie: "Complete three surveys daily and earn as much as $40 monthly," Survey Junkie says.