15+ Apps That Help You Make Money

Need extra money? Your mobile device could actually unlock a world of additional income for you. There are many ways to earn money online, and they are now conveniently available on smartphones and tablet devices. Add an internet connection, and you’re set. Pursuing a side hustle can be time consuming, but if you’ve got a financial goal like getting out of debt or saving up for a down payment on a home, these apps could be a good start to boosting to your income. All the apps here are free to use via web browser and/or mobile device.

Surveys

Swagbucks

Devices: Android, iOS

The Swagbucks iOS app. Source: iTunes.

Swagbucks is a popular survey website with a couple of app counterparts (discussed below), including Swagbucks Local and SB Answers. By taking surveys, you accumulate points called Swagbucks, not actual money. These surveys usually ask about your demographics, preferences, and behaviors on topics like cereal you eat, places you shop, TV shows you watch, and other lifestyle choices. Plan to spend 15-30 minutes on each survey, though there are occasionally seven- to 10-minute surveys.

In terms of how the conversions work, one Swagbuck is about 1 cent, and you can redeem them for gift cards to places like Amazon, Starbucks, and popular retailers like Walmart and Target. You even have the option to donate your Swagbucks to more than 10 charities featured on the site.

So, how good are the payouts? A three-minute survey could offer you five Swagbucks or approximately 5 cents. A 20-minute survey pays out 80 cents on average. However, many people earn much more with the Swagbucks referral program: 500 Swagbucks (worth $5) per person once the referral is active. Plus, you’ll get 10% of your referrals’ point earnings over the lifetime of their account.

You have a few options to earn Swagbucks on your mobile device:

Surveys On The Go

Devices: Android, iOS

The Surveys On The Go iOS app. Source: iTunes

Surveys On The Go allows users to take various surveys with pretty decent payouts: You’ll get surveys for between 25 cents and $1. However, be prepared to spend time on these surveys. You can spend 15-20 minutes completing them (or more).

There also aren’t always a lot of surveys available. I’ve logged in a few times and found there were no surveys for me. The survey availability will depend on your demographic and even location. Sometimes, there are high-paying surveys ($15-$20), but it’s hard to tell when and where that will happen.

There’s no way to know how often there will be surveys available, but you can choose to receive app notifications when there is a new survey you qualify for.

Unlike Swagbucks, these surveys offer you actual money. You’ll need to earn $10 before you get a payment via PayPal. A nice thing about this app is that you get a consolation compensation of 10 cents if you start a survey and are not qualified to complete it.

InboxDollars

Devices: Android, iOS

InboxDollars iOS app. Source: iTunes

Much like Surveys On The Go, InboxDollars offers cash rewards. The app also offers “sweep” points, which allow you enter sweepstakes for more sweeps, money, or other prizes.

This app usually has plenty of surveys to take, though they are not all optimized for mobile viewing. At times, the interface can be a little wonky and a tad clunky to navigate.

You should also know that you can get deep into a survey (say, 5-15 minutes) only to be disqualified because of your answers. Your hourly “wage” comes out to be pretty low considering you make anywhere from 20-25 cents per 20-30 minutes spent answering questions. You cannot request a payout from the app until you’ve reached the $30 minimum. A $3 processing fee applies to every payment request. Your payment options include a check, gift card from Target or Kohl’s, or a prepaid Visa card (the latter two options available to Gold members only.)

Other survey apps to explore include Panel App, QuickThoughts, and SurveyMini. Overall, if you are looking to make a living wage from taking surveys, you likely won’t come close. With payouts that amount to just a few cents an hour, you’re better off with other ways to produce extra income (unless there’s absolutely nothing else you can do to earn).

Fitness

What’s better than losing unwanted inches? Getting paid for it. There are a few apps that allow you to convert your fitness activity into financial benefits. As always, you’ll want to consult your physician before starting any fitness program.

DietBet

Devices: Android, iOS

DietBet iOS app. Source: iTunes

DietBet allows you to turn your fitness goals into money. In order to enter a bet, you have to put money up front in a game that pools the money of other people with weight-loss goals. Those who make their goals win the bet and split up the pot (minus DietBet’s 10%-25% fee) that is paid out by those who don’t make their goals. WayBetter, the company behind DietBet, also has a StepBet app that offers similar games where you put down money when you set activity goals and win the bet if you meet them.

On DietBet, you can participate in a short, four-week challenge called a Kickstarter or a six-month game called a Transformer. You can be in multiple bets at a time to maximize your earnings. The company says Kickstarter winners get back an average of 1.5-two times their bet, while the average Transformer winner takes home $325 for winning all six rounds, or $175 for winning just the final round.

DietBet and StepBet have a No Lose Guarantee, which states that if you win, you will not lose money. They’ll forfeit their cut of the pot to make this happen. Of course, if you don’t win, you don’t get anything, so there’s potential to lose money here. The average Kickstarter bet size is $30, and Transformer costs $25 a month (or $125 up front).

Sweatcoin

Devices: Android, iOS

Sweatcoin iOS app. Source: iTunes

The Sweatcoin app converts your outdoor steps into currency called Sweatcoins (SWCs), which you can redeem for products like watches, fitness apparel, and gift cards. Currently, you’ll earn .95 SWCs for every 1,000 steps you complete. The exact conversion of these coins seems to change depending on the reward: Past promotions include a $12 smoothie gift card for 150 SWCs, a $120 Actofit watch for 1,600 SWCs, and a $88 VICI Life gift card for 250 SWCs.

The items available for purchase with Sweatcoins are limited and change often based on availability and the company’s promotional schedule. This app requires access to your GPS data and location in order to verify that your steps are taken outside.

Shopping

There are many apps that reward you for doing something you’d do anyway — shop. Here’s how most of these apps work: If you purchase a product, the app developer usually gets commissions on purchases you make at their suggestion, which they split with you. In this way, they can provide you with rewards that literally pay you for shopping.

Ibotta

Devices: Android, iOS

Ibotta iOS app. Source: iTunes

Ibotta offers rebates for buying certain products in nearby stores. Once you let it access your geodata, you’ll find deals on items at retailers like Walmart, Whole Foods, Costco, and more.

Sometimes the deals are super product-specific, and other times you can see generic items like milk or eggs offered with a chance to get 25 cents back. In order to get your rewards, you’ll have to scan the item’s barcode with your phone’s camera and snap a picture of the receipt. You’ll then submit these through the app.

This can be somewhat time consuming. For example, the receipt can be long, requiring a few pictures, or you could accidentally throw away the packaging (which I’ve done on a few occasions).

This is another app with a generous referral bonus: You get $5, while your referral gets $10. You accrue referral bonuses and rebates in your Ibotta account and can request payouts via PayPal, Venmo, or a featured gift card once you meet the $20 threshold.

Ebates

Devices: Android, iOS

Ebates iOS app. Source: iTunes

Similar to Ibotta, Ebates gives you rewards for shopping through their portal and purchasing featured items, but Ebates also offers discounts. There are popular stores like Loft, Tom’s, JCPenney, Macy’s, and more. You’ll get your earnings via PayPal every three months (unless you’ve accrued less than $5.01.)

Ebates also has a great referral program. The payouts change from time to time, so you’ll need to check their referral program page for current payouts. At the moment, when you refer one friend who makes a minimum $25 purchase, you’ll get a $5 bonus, while your friend gets $10 added to their account balance after their first purchase.

Shopkick

Devices: Android, iOS

Shopkick iOS app. Source: iTunes

Shopkick pays its users points called Kicks for a variety of shopping activities.

When you open the app, it detects your location and shows you a list of nearby retailers and products that can help you earn Kicks. If you allow the app to access your GPS data, you’ll hear a cha-ching sound when you get close to a participating retailer.

Shopkick is set up to show you the best deals and popular products from retailers like Best Buy, American Eagle, Yankee Candle, and many more.

Kicks can be redeemed for gift cards to places like Best Buy, Starbucks, and Target. The referral program offers 250 Kicks for each friend who signs up and completes their first in-store action.

In terms of the conversion rate, 250 Kicks equals $1 for most rewards. You’ll need to check the rewards section of the app for conversions on specific items.

Gig economy

If you’ve got time and a certain skill set, you can make money helping someone nearby. The apps below are variations of the Uber-like work arrangement we are all getting more familiar with. Given the higher earning potential these opportunities offer, they also require more commitment: Before you can start earning money through these kinds of apps, you may have to submit an application and agree to a background check.

TaskRabbit

Devices: Android, iOS

TaskRabbit iOS app. Source: iTunes

TaskRabbit allows you to complete small tasks like errands, cleaning, or handyman work for people nearby. As a “tasker” you can choose the types of tasks you’ll complete, your rates, and your own schedule. There’s no minimum to the amount of work you can do; however, the site explains that you cannot invoice for jobs that are under one hour. TaskRabbit takes 30% of your earnings and is available in 39 U.S. metro areas.

The application process is straightforward but stringent. In addition to your general demographics, you’ll need to verify your account with official identification like a driver’s license. You will also need to complete a background check. The TaskRabbit website explains that the company receives a large amount of registrations and cannot give you a timeline on when you’ll be approved.

Fortunately, once you get going, it’s pretty easy to see tasks available, accept them, and even invoice your clients. Although earnings for individual taskers vary due to a number of factors, a report by Priceonomics puts the average monthly earnings are around $380.

GoShare

Devices: Android, iOS

GoShare iOS app. Source: iTunes

GoShare is an app for people who need moving and delivery help. You can earn money with this app if you have a vehicle for large deliveries and can lift heavy items. However, GoShare is only available in nine cities among three states: California, Georgia, and New Jersey.

GoShare users can also work with large retailers to help unload shipments and deliver items to customers. For example, someone who ordered a refrigerator from Home Depot could request a GoShare driver to deliver it.

If you live in one of the areas GoShare serves, you can apply to be a driver. Potential earnings vary by vehicle type: The website says someone who drives a small pickup truck could earn up to $47.52 an hour, while someone with a cargo van can earn up to $61.92 an hour.

Uber/Lyft

Devices: Android, iOS

Left: Uber iOS app. Right: Lyft iOs app. Source: iTunes

Probably the most popular of the bunch, Uber and Lyft offer people the opportunity to use their own car to drive people around and get paid for it. Rates are typically set by the company and depend on your location, time of day, type of car you have, whether or not a passenger will share a ride with other passengers, and a few other factors. Uber is in more than 630 cities around the world, and Lyft is in more than 550 U.S. cities.

Chime

Devices: iOS

Chime iOS app. Source: iTunes

Chime is a division of the popular child care site, Sittercity. Chime is a mobile app designed for people who need quick connections for child care. Again, the premise is: I’m available, you need help, let’s connect with this app. Chime is available in Boston, Chicago, New York City, New Jersey, and Washington, D.C.

According to Chime, all sitters are thoroughly vetted and have completed a background check as well as undergone ID verification. The hourly rate is set according to your local market starting from around $15-$18 per hour.

Rover

Devices: Android, iOS

Rover iOS app. Source: iTunes

The Rover app is like Chime but allows users to look for and offer house-sitting and pet care services. Once you apply to be a sitter, your profile, if accepted, takes about five days to be approve. (Note: You can opt to complete a background check through a third party, but it’s not necessary.) You should also know that you get to set your own rates for services.

Once you agree upon a price with your client and complete a job, your client pays through the Rover app. Those funds are released to you within 48 hours, less the 15% transaction fee Rover deducts. Your payments stay in your Rover account until you withdraw them.

A community forum thread on the Rover website puts part-time earnings at $500-$1,000 per month.

GreenPal

Devices: Android, iOS

GreenPal iOS app. Source: iTunes

There are a few Uber-like apps for lawn care, and GreenPal is just one of them. The only issue is that some of these apps don’t have enough users to make it worthwhile for either service seekers or gig workers (GreenPal currently serves 12 U.S. cities).

As a vendor, you’ll apply through the company’s website. Part of the vetting process is passing a criminal background check, providing client references, and confirming that you have proper lawn care equipment.

Once you are approved as a lawn care provider, you’ll get notifications of nearby jobs. You are able to upload photos of your finished work (kind of like a lawn care portfolio), and then your client will rate you.

Depending on your location and market, expect to bid anywhere from $25-$45 per job. GreenPal takes a 3% transaction fee when your client pays you.

If you have a financial goal in mind and need more earning options, apps like these can certainly help. Just remember to weigh the value of your time against the potential of earning more money before you commit to chasing income this way.

The post 15+ Apps That Help You Make Money appeared first on MagnifyMoney.

5 Ways Being an Airbnb Host Can Cost You Money

should-i-host-on-airbnb

If you’ve ever wanted to make a little extra money on the side by listing your sofa, spare bedroom, guest house or even whole house on a service like Airbnb, you’ve probably wondered just how much money you could make.

After all, there are all those stories of people paying their monthly mortgage payments or annual tax bills through their rental income. What a great way to put an asset you already have to good use, right?

Yes, if your situation is right for the opportunity. When managed properly, these rentals can end up bringing in more than a traditional monthly rent can, though it does require significantly more work due to the constant turnover of renters.

As with any business, though, there are risks that could end up undermining any money-making opportunity your spare sleeping spot might afford. That’s why it’s a good idea to exercise caution and do your due diligence before jumping in.

Here are five things that could end up costing you money as an Airbnb host.

1. Higher Insurance Premiums

Yes, it’s true that Airbnb provides Host Protection Insurance, providing primary liability coverage for up to $1 million per occurrence in the event of a third-party claim of bodily injury or property damage related to an Airbnb stay. But that doesn’t mean you’re not going to need to alert your homeowners insurer that you’re operating as a rental property, even on a part-time basis.

For example, I have a guest house that I considered making available on Airbnb and I talked to my insurer about how that would impact my coverage. In a nutshell, my premiums would have doubled, significantly impacting any income I would’ve made from listing on Airbnb. I decided it wasn’t worth the hassle. Now, sure, I could’ve chosen not to tell my insurer about the rentals and just contact Airbnb with any claims, but that left me feeling very exposed when it came to, well, a lot of things.

As Galen Hayesis, president of El Sobrante, California-based Hayes Insurance, recently wrote for PropertyCasualty360.com, the coverage leaves a lot of gaps for homeowners:

  • Coverage is limited to $1 million per occurrence, $2 million per location. The policy aggregate is $10 million for all insured locations in the U.S. Shared limits are not your friend.

  • Coverage is in excess of any other available coverage. The host must submit the claim to his homeowners insurance and the claim must be denied by that company before Airbnb’s insurance will pay. Presumably, the homeowners insurance may also be cancelled for business use.

  • The summary document lists these other “key” exclusions: (1) intentional acts (of the host or any other insured party), (2) loss of earnings, (3) personal and advertising injury, (4) fungi or bacteria, (5) Chinese drywall, (6) communicable diseases (7) acts of terrorism, (8) product liability, (9) pollution, (10) asbestos, or lead or silica, and (11) insured vs. insured (i.e., host sues Airbnb or vice versa).

  • The coverage is limited to an actual stay, not a booking. No show — no coverage. Overstay or early arrival? No coverage.

“What if a guest breaks into the host’s gun safe, steals guns and goes on a crime spree? Is there coverage for the host from any ensuing lawsuits? Probably not,” Hayesis wrote. “Vacation rental websites like Airbnb are doing their best to protect themselves by offering what looks like insurance to their hosts. But hosts are shouldering a lot of risks with limited protection. So before you sign up or rent your home again, you may want to think twice. The bottom line appears more red than green.”

Airbnb did not respond to Credit.com’s request for comment, but does provide the following on the Airbnb website:

Here are some examples of what the Host Protection Insurance program should cover:

  • A guest breaks their wrist after slipping on the rug and brings a claim for the injury against the host.
  • A guest is working out on the treadmill in the gym of the apartment building.
  • The treadmill breaks and the guest is injured when they fall off. They bring a claim for the injury against the host and the landlord.
  • A guest accidentally drops their suitcase on a third party’s foot in the building lobby. The third party brings a claim for the injury against the host and the landlord of the host’s building.

Some examples of what the Host Protection Insurance program doesn’t cover:

  • Intentional acts where liability isn’t the result of an accident.
  • Accusations of slander or defamation of character.
  • Property issues (ex: mold, bed bugs, asbestos, pollution). Auto accidents (ex: vehicle collisions).

2. Turned Down for a Mortgage or Other Home Financing

Banks also are closely scrutinizing how properties are being used when it comes to writing new mortgages and even refinancing. The issue is primarily about how to classify loans for homeowners hosting through Airbnb and other services Are they a primary residence? An investment property? Both? Mortgages on investment properties have traditionally been viewed as riskier.

One example is Brad Severtson, a resident of Seattle whom the Wall Street Journal recently profiled. Severtson had reportedly earned about $30,000 in 2015 renting out a cottage in his backyard. The Journal reported that he thought the extra income would work in his favor when he wanted to refinance a home-equity line of credit.

“The bank turned him down, saying it didn’t allow home-equity lines of credit on properties in which the homeowner is operating a business, including Airbnb,” the Journal reported.

3. Higher Taxes

Yep, if you’re making rental income, you’re going to be expected to pay taxes on it. Airbnb says on its website “as a host, your earnings may be subject to U.S. income taxes. To assist with U.S. tax compliance, we may collect your taxpayer information. Even if you’re not a U.S. taxpayer, we may still require certain information from you.”

There are some exceptions to keep in mind, though.

According to the Internal Revenue Service, if you use your home or vacation property as a personal residence and rent it for fewer than 15 days in a calendar year, you do not have to claim that income on your personal taxes. In this case, do not report any of the rental income and do not deduct any expenses as rental expenses.

Likewise, if you rent your home or vacation property to others that you also use as a personal residence, limitations may apply to the rental expenses you can deduct, according to the IRS. You are considered to use a dwelling unit as a personal residence if you use it for personal purposes during the tax year for more than the greater of 14 days or 10% of the total days you rent it to others at a fair rental price.

It is possible that you will use more than one dwelling unit as a personal residence during the year. For example, if you live in your main home for 11 months, your home is a dwelling unit used as a personal residence. If you live in your vacation home for the other 30 days of the year, your vacation home is also a dwelling unit used as a personal residence, unless you rent your vacation home to others at a fair rental value for 300 or more days during the year.

4. Losing Your Lease

If you have a landlord and want to host on Airbnb, the very first thing you should do is talk to your landlord and get their permission to advertise your sofa, your spare bedroom or the whole property. And get it in writing.

There are literally hundreds of horror stories of folks not talking to their landlords, only to be sued or have their leases terminated as a result.

5. Being Cited for City Ordinance Violations

Many cities have restrictions about hosting on sites like Airbnb, whether you are a homeowner or a renter. That’s why it’s a good idea to first check on the Airbnb site about what regulations may apply and then follow up with your local government. The last thing you want is to be cited for being in violation of local ordinances.

As Airbnb states on its site, “When deciding whether to become an Airbnb host, it’s important for you to understand the laws in your city. As a platform and marketplace, we don’t provide legal advice, but we do want to give you some useful links that may help you better understand laws and regulations in your town, city, county, or state.”

Remember, making a little extra money from a side gig is a great way to boost your savings abilities or help pay off any debts you might owe (you can see how your debt is impacting your credit by getting your free credit report summary on Credit.com). But, as this list, shows, it’s wise to do your research first. What might seem like a great opportunity can end up costing you big time. So, do your homework before your foray into renting your space and make sure your home can actually work for you.

Image: kupicoo

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7 Ideas to Make Extra Money This Summer

summer_jobs

Summer is a great time to head to the beach, fire up the grill or go camping. But it’s also a terrific time to earn a little extra cash.

You can make money year round, of course. But the long days, warm weather and (for some) flexible schedules of summer offer some unique opportunities to cash in.

Despite recent ominous job numbers, prospects for summer employment remain pretty good.

Daniel Culbertson, U.S. economist for the online job board Indeed.com, recently told Forbes that retailers lead the way when it comes to summer employment:

“But they’re not the only ones hiring, as we see an increase in summer job postings overall in May as compared to last year, matching strong job demand throughout the start of 2016.”

Here are seven great ways to pad your bank account as the temperature rises.

1. Lifeguard

You probably won’t get rich doing this job. The average pay for a lifeguard is $8.92 an hour, according to PayScale. However, you will soak up the rays and have fun, and you may even save somebody’s life.

And on second thought, maybe you will get rich after all. A few years ago, CNBC reported that some California lifeguards make six figures.

The Red Cross offers training and certification courses.

2. House Painter

Summer’s great weather makes the season prime time for house painting. If you can paint like Picasso, get to work! If not, try a volunteer stint at Habitat for Humanity to bring your skills up to speed.

You can expect to earn around $17.50 an hour for your efforts, according to the U.S. Department of Labor. Not a bad gig if you can get it.

3. Ice Cream Truck Driver

Who doesn’t have fond childhood memories of hearing the familiar chimes of the ice cream truck on a summer day? Now, you can create those idyllic moments for the next generation of kiddos.

JobMonkey notes that ice cream truck drivers almost always earn their money on a commission basis and can expect to bring in between $300 and $600 weekly during the summer:

If it’s rainy and nasty out, you may not make much money, but if the sun is blazing and it’s the Fourth of July you may pull in big bucks.

And added bonus? You’ll never run out of sweet treats during the workday!

4. Lawn & Yard Care Servicer

During the dead of winter, people don’t typically worry much about their yards aside from the occasional need to shovel. But by summer, lawns, weeds and bushes are growing every day.

Some folks are simply too busy to keep up with the trimming. Others may be too old or ill. Regardless of the reason, you can help out and pad your pockets at the same time.

According to Angie’s List, the professionals charge between $35 and $50 just to mow the lawn. Plus, it can be a great — and free — workout.

5. House & Pet Sitter

People often travel throughout the summer, and many need someone to look after their homes and pets. The work is relatively easy and can be fun, especially if you love animals.

Kimbirly Orr of Denver is a house sitter who told U.S. News and World Report that she charges $50 a night for up to two small pets.

If you land a longer-term project, house sitting can be a bigger boon for those trying to save money rather than earn it.

For example, agree to house sit for someone who will be gone all summer long and you may get free lodging. House-Sitters America says gigs as long as six months are not unusual.

6. Tutor

Kids who struggled during the school year often use the summer to sharpen their skills in time for the coming fall. That means a plethora of parents may be searching for a private tutor.

If tutoring sounds interesting, you can find clients by posting fliers or advertising on online classifieds sites. Or, you could work for a local tutoring agency for a year or more to build your credentials before moving out on your own.

Care.com says high school students who tutor during the summer can expect to earn $10 to $15 an hour. Certified teachers can earn as much as $75 an hour — that’s big bank during their off-season.

7. Bottled Water Seller

When investing legend Warren Buffett was a kid, he would buy chewing gum from his grandfather’s store, then turn around and sell it door-to-door at a markup.

You can follow in the footsteps of the Oracle of Omaha by selling bottled water (buy it in bulk at a warehouse club) on hot summer days at parks and outdoor events.

Just check with local ordinances to make sure you are not running afoul of the law.

[Editor’s Note: Whatever summer income you pull in, it’s a good idea to try to save it or use it to strategically pay off your debts. Paying down debt can also boost your credit scores. You can get your credit scores for free on Credit.com to track your progress.]

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Image: Roy Pedersen

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