InboxDollars
You can use InboxDollars to earn money in a variety of manners – watch videos, complete online surveys and sign up for various products and services. Signing up is free and easy, and the company claims to have paid $80 million to its users. But what separates InboxDollars from a few other services is the way you’re compensated. Most apps offering similar services hand out points, which you can redeem for PayPal cash or gift cards. But InboxDollars just gives you cash, which makes it all the more enticing.
However, you’ll need $30 in your InboxDollars account to be able to cash out, which is a little higher than a few other services. Surveys are the most lucrative when it comes to earnings potential, with most fetching you $0.50 for a few minutes of your time. You can do these while you’re on the bus or the train.
Blackout Bingo
If you enjoy playing classic games, then you’ll find Blackout Bingo worth your while. It pairs the fun of bingo with the potential to earn real money. The game is free to download for both Android and iOS devices, and it runs on the Skillz platform. Once you’ve created an account, you can either play a few practice matches to get warm or play with real people. And don’t worry; the system pairs you with a player of the same skill level as yours.
But in order to earn real money, you’ll have to pony up real cash to enter tournaments; think of it as an admission fee. For example, if you’re entering a tournament that lists $1 as the prize, you’ll have to pay $0.60. But you can also play in tournaments with prizes running in tens of thousands of dollars. If you withdraw winnings under $10, there’s a $1.50 processing fee that’ll kick in. Blackout Bingo is unavailable in states where gambling is illegal.
Panel App
Loyalty-based service Panel App is free to use and download on your smartphone. It pays you to do literally nothing! Here’s how it works: Once you’ve downloaded the app, simply connect it to the internet and turn on your location. Panel App works in the background without slowing down your device. You’ll only need to open the app when you intend to cash out. You can redeem points for Amazon gift cards or PayPal, or you can use them as sweepstakes entries where prizes can reach $5,000. The company says it doesn’t collect any information that can be tracked to you. Panel App also hands out surveys after you’ve used the app for a while. But if you fail to earn any points for 90 days, any unredeemed points will be lost and your account closed. There’s also a sign-up bonus of 100 points and a referral program that will earn you 10% of the points your referral makes. You can use Panel App if you’re 13 years old and live in the U.S., U.K., Canada or Australia.
Airbnb
If you have extra space in your home, you can rent it out via Airbnb. This can be your legit side hustle and one that provides a consistent stream of passive income. Factors like how often you rent a property or the money you charge ultimately decide how much you can make through Airbnb. But as a host, that’s for you to decide; you’re in control of how much you’d like to charge, but you can use Airbnb’s pricing tool to help arrive at an appropriate rate. The company says hosts make about $750 per month on average, which is about $9,000 per year. But Airbnb takes a 5% cut. In addition, any money you make via Airbnb is taxable; you’ll be issued Form 1099-K if you earn more than $600 in a calendar year through the service.
Uber/Lyft
In addition to the money you’ll earn through driving, there’s also money on the table for new drivers looking to join either platform. Uber is handing out $1,000 in cash bonus to new drivers, and Lyft’s referral program can fetch you $3,000. But these come with strings attached: you’ll have to complete a certain number of rides within a specific number of days.
Turning to earnings potential, Salary.com pegs an Uber driver’s average pay at $37,102 a year, or $3,100 per month. Meanwhile, according to Glassdoor, a Lyft driver’s average pay is $18 per hour. But don’t forget: both Uber and Lyft take a slice of your earnings; Uber’s cut is 25%, but Lyft isn’t as transparent with its fees. In addition, earnings from these ride-hailing services have to be reported to the IRS on Schedule C.
Jasir Jawaid is a writer for the personal finance website, Joy Wallet, which provides readers with useful information, resources, and tools to help maximize their financial fitness.
