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Welcome to the “2-Minute Money Manager,” a short video feature answering money questions submitted by readers and viewers.
Today’s question is about making extra money; specifically, apps you can download that either pay you for performing actions or allow you to save money when you shop.
Watch the following video and you’ll pick up some valuable info. Or, if you prefer, scroll down to read the full transcript and find out what I said.
You also can learn how to send in a question of your own below.
For more information, check out “The 5 Best Apps to Make You Money” and “19 Unusual Ways to Earn Extra Cash.” You can also go to the search at the top of this page, put in the words “make extra money” and find plenty of information on just about everything relating to this topic.
Got a question of your own to ask? Scroll down past the transcript.
Don’t want to watch? Here’s what I said in the video
Hello, and welcome to your “2-Minute Money Manager.” I’m your host, Stacy Johnson, and this answer is brought to you by MoneyTalksNews.com, serving up the best in personal finance news and advice since 1991.
Our question today comes to us from Ted:
I know I can make money by downloading certain apps and putting them on my phone. What’s the best one?
Well, Ted, I’ve got three things for you.
Thing No. 1: There is no “best” app for making money
The best app for you depends on the kind of a person you are. There are apps that:
- Pay you for doing certain tasks.
- Get you money back when you shop.
- Help you sell things.
So, the best app for you will depend on what you think is fun, or at least not a pain. You’ll need to check out a bunch, see what sounds good, then read reviews and try a couple.
It’s important to realize up front that apps won’t make you rich. You’ll probably end up picking up a couple of bucks here and there. Nothing wrong with that — I’m just saying don’t have your expectations too high.
Thing No. 2: A few apps to try
Field Agent is an app I haven’t personally tried, but I’ve heard and read about it. It works by paying you to do tasks, like going to a store and taking pictures of products on the shelf, or maybe checking prices. They pay from a couple of bucks to $10 per task.
Foap is a cool app because it allows you to sell pictures you take with your phone. You simply snap away and upload them to Foap, then sell them for whatever price you choose. The company takes a cut and you get the rest.
Unless you’re a really good photographer, you may not sell a lot of pics. But go to their marketplace, see the pictures for sale, then see if you can take similar or better pictures.
A final popular app is Ibotta. This app is a way to save money while shopping. You tell it the kind of products you buy, and it offers you rebates. When you buy the item, you take a picture of your receipt, forward it to Ibotta, and it forwards you the rebate. So, you essentially use this app to get product rebates based on your shopping habits.
Thing No. 3: Read all about it
There are a ton of apps out there to make and save money. I can’t begin to name them all, but there’s plenty of info online. Start with the story “50 Ways to Make a Fast $50 (or Lots More!).” It’s got literally dozens of ideas to create a little spare cash.
But remember to always read before you proceed. Read reviews. Understand how the app makes you money and how much you can make. Understand the personal info they may be extracting from you.
When you find something you like, try it out. If you don’t like it, remove it from your phone.
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The questions I’m likeliest to answer are those that will interest other readers. In other words, don’t ask for super-specific advice that applies only to you. And if I don’t get to your question, promise not to hate me. I do my best, but I get a lot more questions than I have time to answer.
I founded Money Talks News in 1991. I’m a CPA, and have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
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