Budgeting Through A Crowdsource Gift Economy
It's easier than ever to get free rewards, gift card surveys, and other nice presents for a bit of your time. Crowdsourcing has augmented mall surveys and made new ways for companies to complete tasks that are better directed towards the public, either to guarantee that the product fits public demand or to get a grasp on public opinion that an office worker can't accurately gather alone. If you've seen different free rewards app offers, consider a few ways to make the rewards enhance your budget in meaningful ways.
Tangible Rewards And Resales
Not all free rewards are for cash. In many cases, the rewards are existing stock that needs to be moved, and instead of throwing everything out for free, a fair system of trading gifts for your time is developed.
These gifts are usually for products that are still modern and relevant. Those awkward days of "winning" a stereo with a tape deck when CD players were relevant, or getting a CD player when MP3 players were already old are mostly over, so you shouldn't have to worry about outdated stock.
It's tempting to look at rewards and figure out what you want the most. While setting a desired product as your goal is a decent plan, you should spend more time figuring out how the system works and how valuable the prizes may be for resale or trade.
Every rewards system has some sort of formula behind the value. You need to figure out how much time is needed to complete tasks, accumulate points (if applicable), and get to a certain reward level. This will help you figure out how much your time is worth on a particular platform, and whether you should be shooting for lower cost products versus top tier items.
Some platforms do not allow resale, and may ban or suspend your account for not following rules. Read the terms of service, calculate your effort-to-reward ratio, and start earning items that can either be resold or useful to you or your friends.
Gift Card Planning
Some reward app systems use gift cards as compensation. There are quite a few different types of gift cards, so before you get excited to get a digital stack of money on a piece of plastic, be sure to fit every type of gift card into your planning.
The most basic type of gift card is a flat dollar amount on a card that can be used almost anywhere. Almost anywhere is the key phrase here, as there may be some stipulations on how the card is used. Some may be debit cards that require a PIN (personal identification number) for any transaction that accepts the credit company (Visa, MasterCard, Discover, etc), while others may have limitations such as no cashback.
With any cash-based gift card, be wary of ATM (automated teller machine) fees. Unless the gift card is tied to a bank in the local area--or if you have a nearby ATM that doesn't charge a fee for use--you're wasting some of your free rewards app time and money.
Other gift cards may be for specific store, restaurants, or platforms. They're not as flexible as cash-based gift cards that are usable anywhere, but they can be helpful if you can plan dinners or shopping trips and map out your budget based on what you save. Don't dismiss these limited cards when you can save them for a rainy day with a low bank account.
Look up some great reward app offers to find gifts that can save your wallet.