Ways to Make Money on your Phone

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If you’ve got some time to spare, chances are, you’re already spending it on your phone. Whether you’re looking to make big changes to your monthly budget or just a little beer money on the side, there are plenty of opportunities to do so right at the palm of your hand.

We’ve curated a list of some of the best ways to earn from your phone, any time, any place.

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Easy Ways to Make Money from your Phone

Take surveys and give your opinions

Swagbucks
InboxDollars

These really don’t take up much time at all and can be done at your leisure. Plus, it isn’t just limited to taking surveys and giving your opinions. If you prefer to watch movies and/or play games, you can do those as well.

Save on your monthly bills

There are quite a few apps in this category, but we think these two fit the bill best for most people. The highlight of these apps is that they’ll negotiate better rates for you on your existing bills. Before doing so, they ask for your permission first. Truebill charges you a percentage of money saved, whereas Hiatus simply requires a monthly subscription.

Get cash back

Ibotta

You really don’t have to do much to reap the benefits of Ibotta. Simply spend a tiny bit more effort in your shopping by interacting with this app, and you’re well on your way to earning cash back. Highly recommended in our book.

Play games that pay

Blackout Bingo

If you’re looking for a game to play that’s not only fun and addicting, but pays as well, there’s no better alternative than this. On an ongoing basis, the company is paying out over $71K to all its users combined every hour.

Sell your gift cards

CardCash

A very simple and straightforward way to sell your unused gift cards. The company is owned by PayPal, so you know it’s legit. Simply punch in your gift card info and see what you can get from it.

Locate your old 401(k) accounts

Beagle
Capitalize

Collectively, Americans have over $3 trillion in limbo sitting in lost 401k accounts across the country. If you feel you may have left an account behind from one of your many jobs, it may be worth it to pay for a single month of subscription to see what these companies can locate for you. At most, you’ll be out a few dollars, while the potential findings can add up to the tune of thousands of dollars.

Invest your money

Acorns

It’s never too late to start investing. Acorns is aimed at beginners wanting to get started without spending too much time on it. Plus, they’ve got a great user interface to monitor all your investment progress on your phone.

Consolidate your student loans

Earnest

As a habit, you should be applying every year or two to see if you can get better rates to save money. It’s always best to apply to multiple within a month at a time, and there are many great options out there. Earnest is one that we recommend, but it should be applied to in conjunction with various other ones to get the best rate.

Switch over to a cheaper phone plan

Tello (our #1 recommended for saving money)
Mint Mobile
Google Fi
Visible Wireless

Switch insurance companies

Insurify

Insurify makes it super easy to see if you qualify for a quote that beats out your current premium. Plus, you get your quotes before agreeing to be contacted by the insurance provider, if you wish. Insurify is a much better alternative than all the other companies that simply take your information and sell them to various insurance providers who then proceed to bombard you with phone calls and emails all at once.

Start tracking your income and spending

Personal Capital (Get 6 months free)

This is always a good habit to form if you haven’t already, and Personal Capital helps you do just that but letting you consolidate all your accounts and making them look all pretty at a glance. And the main reason we recommend it? Not only are they good, they’re free too!

Do I have to pay taxes on money earned from my phone?

The money earned through phone is considered income, and thus you technically do need to pay taxes on it. You are responsible for reporting these earnings on your own. However, many platforms have a threshold of earnings before they are required to send in tax documents with your information to the IRS. Swagbucks, for example, reports to the IRS if you make $600 or more in a given year.

Is saving money really the same as earning money?

Saving money is the same as earning money, if not actually better! If you earn $100 in a given year, you’ll need to pay taxes on it. On the other hand, saving $100 is truly saving $100. The only real upside to earning money over saving money is that earning money is potentially unlimited, whereas saving money is limited to what you have.

Do any of these money-earning suggestions come with any risk?

Absolutely. In particular, investing your money does not guarantee any returns and may in fact incur a loss. Also, some of the services above that help you save or locate money charge a fee in order to do so. Make sure the amount you can save or locate can cover the costs for the services. Otherwise, it may not be worth the money. Please consult your financial advisor before making any major financial decisions.

What is beer money?

Beer money is simply money that can be earned in small amounts to spend on luxuries, your favorite hobbies, etc. For many people, that includes beer, hence the name.

Earning Money on your Phone is Legit

And there are many ways to do so. We’re always on the lookout for better options, so when we find such alternatives, we do our best to always keep this list updated. If you think we’re missing some great ones, or feel that any of these should not be recommended, please write to us! We’d love to hear from you.