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5 Ways to Make Money Online



Are you looking for legitimate ways to make extra money online? The internet is full of side hustle ideas and supposed business opportunities for really making money from home. But many of these are proven scams. Others might be legal, but still may not be worth the time and effort.

Work-at-Home Scams
There are honest ways to make money online -- you just have to know what to look for. The Federal Trade Commission (FTC) has detailed information on how to spot scams. Get the answer to these questions before signing up for any work-at-home opportunity.

- What is the total cost of membership fees, supplies, software, etc.?

- What exactly am I expected to do? By when?

- How do I make money (commission, hourly, salary)?

- How and when will I get paid?

Calculate how many hours you must work to pay off the cost of start-up supplies. Many scams make money off of charging new sellers membership fees and other starting costs.

Also do a gut-check about your potential clientele. You might be able to get your friends and family to buy a few things, but they will continue to buy from you month after month? Scammers might promise you an exclusive customer list or your own sales territory, but these may not materialize.

Never give away your financial information, such as your bank account details. Beware if they say they're going to wire you money or a big check and all you have to is send them back a portion of it. This is a common scam - once you've wired them your money, their check will bounce or the promised deposit into your account won't happen.

Do an internet search for the company and "scam" or "complaints." Just because you don't find anything doesn't mean the company is clean. The FTC warns that some companies change their names and locations to avoid negative reviews.

Measure Opportunity Cost
Before taking any work-from-home opportunity, ask yourself if it's worth the payoff. For example, how many hours do you have to work to turn a profit? Even honest ways to make money from home might not be worth the time. The idea of opportunity cost is "if I can do A, then I cannot do B." So, if you spend your time and energy on one thing, you no longer have it available to put toward something else.

Be realistic about what you can expect. If something sounds too easy, then it probably isn't legitimate. However, if you are willing to do your research and build small amounts of income slowly, then you can make honest money from home.

Surveys and User Testing
No special skills required. All you need is your computer and your opinion. The downside is that it's time consuming and the pay is very low. Some sites limit the number of surveys you can take per month. Do a search for "paid survey sites" or "paid user testing." Read reviews and check for complaints.

Multilevel Marketing (MLM)
Multilevel marketing is when you see a company's products (such as cleaning supplies, essential oils, makeup, hair products, etc.) to your own network of friends and acquaintances in exchange for a commission. However, if the company makes most of its money off recruiting new sellers instead of from product sales, then it's a pyramid scheme, which is illegal.

Online Games
Some online games reward players with gift cards and cryptocurrency. This could be a way to make money, but if you're spending lots of time mastering a game that pays pennies per hour, is that really a useful exchange of effort for the payoff? It might be enjoyable, but if you really need extra income, gaming is not likely a quick fix.

Secret Shopping
You can earn points or rewards for visiting and reporting back on certain businesses. This could be a nice add-on if you would visit the place anyway. But if you're making special trips, consider the gas, time and effort it takes to get there, plus the money you spend once you're there.

Sharing Your Consumer Habits
You can sign up to provide consumer feedback to retailers through programs such as the Nielsen Consumer Panel, where you earn points toward products and gift cards. This can only be counted as income if you would have been buying those things anyway. If the rewards you get qualify as "wants" instead of "needs" then you haven't really come out ahead -- in fact, you could be wasting time that might be used more profitably.

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