4 Best Websites for Earning Side Income to Grow Your Savings
- 42 Comments
- By Jennifer Calonia
- November 26, 2013
Before you can save money, you’ve got to earn it. The web lends a helping hand for those interested in how to make extra money from home with a handful of sites that help you earn money on the internet.
Not only can you find an additional source of income to help out with daily expenses, but the schedule is flexible and you can enjoy the luxury of working from the comforts of your home.
Whether you simply want to cushion your funds for an end-of-the-month shopping spree or are willing to invest serious time for maximum payout, identifying ways to earn money on the internet is a good place to start.
Depending on your time commitment, skill set, general knowledge and passion to help your community, you can find a way start earning a side income on the web. These websites offer a variety of tasks, projects and jobs that are suitable for any level of expertise and can help add toward your savings goals.
Earn Money on the Internet with These 5 Websites
Every website has slight differences in terms of process, but all operate with the same premise of outsourcing jobs to internet users who are looking to make a quick buck. With thousands of projects and tasks available, users can steadily add to their income and grow savings.
The best part about these websites is that registration is completely free and finding a job that matches your unique set of skills takes only a few minutes.
#1. Mechanical Turk
Amazon’s Mechanical Turk turns simple tasks into money-making opportunities.
Human Intelligence Tasks, known as HITs, are basic tasks that a computer cannot complete. Users trying to find ways to earn money on the internet can browse the over 461,960 HITs available and accept any task that aligns with their interests.
Completed tasks are then submitted to requestors (i.e. individuals or employers who posted the task) for review and once the requestor approves the work, payment is sent to users via Amazon Payments.
Current compensation for HITs range from $0.01 for a 3-question survey to more than $70 to transcribe a presentation. Additionally, workers can complete optional qualification tests to verify specialty skills or knowledge.
More complex or subject-specific HITs may require workers to pass certain qualification tests, but as a payoff, they often have the most appealing pay ranges.
ShortTask functions similarly to Mechanical Turk as a way to find easy tasks to complete in exchange for compensation.
Those who post tasks are called “seekers” and those who complete tasks are dubbed “solvers.” Solvers browse the listing for a desired task and must complete the work within the allotted time. If Solvers fail to complete the task by its deadline, the task is re-opened to other Solvers and payment is not sent.
In the interest of fairness, ShortTask also utilizes a review process wherein Seekers are able to review completed tasks before issuing payment. Once a completed task has been approved, Solvers receive payment via their PayPal account.
Seekers who are especially pleased with the outcome of a task have the ability to issue bonuses to Solvers in addition to the per-determined rate of pay, meaning more money in your pocket if you provide impressive work.
Before investing time into ShortTask, it’s important to note that PayPal charges a fee for conducting transactions that Solvers must absorb. Also, users are unable to withdraw funds from their account until they’ve accumulated at least $50 in payments.
While these factors may not deter those who are committed to actively using the website, casual users may find more success using other avenues to earn money on the internet.
ChaCha provides more in-depth services, as it includes not just one kind of “Guide” (i.e. users like you), but rather five types that are responsible for performing different types of tasks. This enables users to tailor their responses and skill-level through the appropriate channels, to make the ChaCha community more effective and efficient.
ChaCha’s Guide classifications are as follows:
Expeditor: These guides provide answers to community questions in real-time for maximum efficiency. Since the position requires guides to keep on their toes, fast typing and quick thinking are a must. The compensation for Expeditors: $0.02 per task.
Generalist: Think about your circle of friends: That guy who knows something about practically everything — he’s a Generalist. These guides need to have exceptional internet search skills and have a solid general knowledge base. Generalists can make anywhere from $0.10-$0.20 per task.
Transcribers: ChaCha also accepts recorded audio questions from the community through their contact number: 1-800-2ChaCha. Transcribers are responsible for deciphering what callers are really asking (i.e. judging their true intent), then transcribing their questions into a text format. Impeccable listening skills and fast typing are essential for Transcribers, with payment for each transcribed question at $0.03.
Vetters: Vetters identify the best answers in the database and matching them to their corresponding questions. In the process, Vetters get the joy of learning random facts, fun trivia and other insightful knowledge. This guide type is best suited for those with a positive attitude and quick reaction time. The compensation Vetters receive is $0.01 per completed session.
Regardless of which type of guide piques your interest, all guides must be 18 years or older with a U.S. mailing address, and be eligible to work in the United States.
Those who are seeking larger projects can turn to Freelancer for a plethora of skill-specific jobs that can help you beef up your savings account.
Getting started is as simple as setting up your Freelancer profile, which includes your qualifications, skills and work portfolio. Then, you are free to browse Freelancer’s extensive project list and bid on projects to work on. If an employer selects your bid, milestone payments are established and Freelancer holds payment until the project is completed and verified.
Payments are sent via PayPal, MoneyBookers, Freelancer.com debit card or wire transfer. Freelancer does, however, charge a “project fee,” which is a commission of either $5 or 10 percent of the total payment, whichever is highest.
For those committed to earning an income through Freelancer, a Standard Membership is available wherein users pay $24.95 per month and are charged a five percent commission. There is also a Premium Membership option at $49.95 with a three percent commission.
Which Website Should You Use?
There are a lot of considerations to be made regarding where you should invest your time to earn money on the internet. In addition to your available time commitment, consider how much you’re hoping to earn and how you intend on using your new-found source of income.
Certain sites like Mechanical Turk may better serve those who need some extra spending cash, while websites like Freelancer can offer substantial earnings of hundreds of dollars per project, depending on the work completed. Once you’ve determined your savings goal and intent, you can earning money online is an easy process that can help your savings grow.