Engaging in a side hustle may be simpler than you think. While some side hustles require high investment costs, there are also many with low or no costs, and even low entry barriers. Participating in market research is one side hustle worth considering, as participants can earn tens or even up to $200 in just 30 minutes.
With the continuous increase in the cost of living, more and more Americans are seeking side hustles to earn extra income. Data from the financial services company Bankrate shows that nearly two-fifths (39%) of American adults have side hustles, meaning they have additional sources of income outside their main job.
Bankrate’s survey also reveals that Americans earn an average of $810 per month through side hustles.
Side hustles are particularly popular among young Americans, with 53% of Generation Z (ages 18-26) and 50% of Millennials (ages 27-42) telling Bankrate that they earn extra income through side hustles.
Millennials tend to earn significantly more from side hustles compared to other generations. Bankrate’s survey indicates:
– Millennials: $1,022 a month
– Generation Z: $753 a month
– Generation X: $670 a month
– Baby Boomers: $646 a month
According to CNBC Make It, one side hustle worth exploring is participating in market research. Companies often conduct product testing with potential users before launching a product to gather feedback. This provides an opportunity for those willing to participate in testing to earn additional income.
There are various ways to participate in market research. If you prefer individual involvement, consider registering on the three websites recommended by CNBC Make It. Earn extra income by participating in market research activities offered through these sites.
You will first need to create a personal profile on the website, including your background, skills, and interests. The site will then match you with market research surveys based on the information you provide, sending them directly to your inbox. Rewards vary depending on the type and duration of the survey. For example, completing a 30-minute survey for a web developer could earn you $200.
Similarly, you will need to create a personal profile on the site and apply for the research projects you wish to participate in, with many applications taking less than a minute to complete. The site will recommend research projects suitable for you. These are usually conducted in one-on-one interview format. Rewards vary based on the project and duration, with some offering $75 for a 30-minute session and $200 for a 45-minute session.
This website is specifically designed for patients or caregivers. You may be invited to participate in interviews, surveys, or online community activities and share your insights. By participating in these studies, you can earn $120 per hour.
If you prefer group participation, you can join market research focus groups. You can register on Find Focus Groups website or Fieldwork website.
Recent opportunities on Find Focus Groups include a 90-minute survey for dog owners with a reward of $180. For Fieldwork, research compensation is at least $75.