Making money online - paid surveys

We live in the information age, and there is no greater currency. Organizations and businesses will pay for all kinds of information, but what's typically important to them is customer attitudes towards products: this might be in relation to the product itself, or some element of it such as the packaging or planned advertising.

Customer surveys are big business, and they can have enormous impact on a product's success. 

Penny's Bright Ideas #3

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Make do and mend - stain removal

On this week's make do and mend we're going to be looking at how to remove stains from fabrics.

How many clothes and sheets have seen a premature departure to the rubbish tip because of a stain? By learning how to deal with such stains you can make your fabrics last longer and this will save you money in the long-run.  
 
There are plenty of commercial stain removal products on the market, but these are often very expensive and rarely deliver as promised. Instead, where possible, we will be looking at tried and tested home remedies that won't hurt your pocket. 

Using less of toiletries

How many times have you used an entire handful of shampoo only to wash it all out just a few seconds later? How many times have you used enough body-wash to bathe a hippo? How many times have you drawn an inch-long strip of toothpaste over your brush?
Whatever toiletries your bathroom rituals are composed of, chances are good that you use far more of them than you really need to.

Money for gold

The value of gold is higher than ever before, so there's never been a better time to rummage through your jewellery box. The market, however, is saturated with companies grasping for your gold, and some of the more unscrupulous of these will take advantage of the unwary.

This guide looks at how to track down your gold, and how to sell it for the best possible price. 

Penny's Security Tips #6

Penny's Bright Ideas #2

Making money online - product reviews

With the recent surge in online shopping, it's becoming increasingly likely that a customer will never actually see a product in the flesh before making a purchase. As a result, more and more people are turning to independent product reviews to help them to make the right buying choices.

Product reviews are big business, and they can have enormous impact on a product's success. 

The rules of shopping

The high-street and the internet are packed with temptations and devious psychological tricks in an attempt to part you from your hard earned cash. The rules of shopping are there to make you stop and ask questions before you make purchases on an impulse.


The Rules
Whenever you're shopping and you see something that you want to buy, ask yourself the following questions:

Can I afford it?

Do I need it? / Will I use it?

Is it value for money?

When you ask yourself whether or not you can afford a particular purchase, you should be thinking about your necessary expenses like food shopping, bill payments, and any loan/credit card repayments. If you need to borrow money to do this, the answer is: NO!

When you ask yourself whether you need it or are likely to use it, try to be realistic. The item might not work as well as it claims, or might not last as long as you expect it to. Also think about what else you could afford to do with the same amount of money. There are also specific considerations dependant on the kind of product; for example, if you're attempting to body-build or lose weight, spending a lot on clothes that might not fit you for long is not a good idea. 

When considering whether something is value for money, think about similar items offered by competitors and what advantages are offered over them. Try to be objective and don't just look at the label. Designer clothing is particularly notorious for being poor value for money, because the quality is often (though not always) no better than much cheaper generic brands - even designer products are sometimes made in sweat-shops!

If your answer to ANY of those questions is 'No', walk away and don't look back. Congratulations, you've avoided an impulse buy.

If you answered 'Yes' to both of those questions, ask yourself:

Can I get it cheaper somewhere else?

Is it reasonable to buy a cheaper make / brand?

Can I get a discount?

What did other buyers think?

Where possible, you should price compare before committing to buy. You can find out how to do this by looking at our how to price compare article.

When considering whether it is reasonable to buy a cheaper make or brand, it's important to take an objective look at the advantages and disadvantages of one product over another. Try not to be swayed by superficial qualities if it is actually the function that is most important. For more information on cheaper brands, take a look at our going down a shelf article.

It is always worth asking yourself whether you can get a discount. The approach will obviously vary depending on the type of product you're looking to buy. 

• For grocery items, there may be coupons available either online or in supermarket magazines.
• For most other items there may be exclusive online prices available that are cheaper than those found in stores.
• For fairly expensive items (over £50), it is not unreasonable to attempt to haggle for a lower price. However, this can only be done face to face or over the telephone and does not typically apply to online purchases (with the exception of private sales).  Never be afraid to haggle: the worst they can do is say 'no'.
  

Finally, it's always worth taking a look at what other buyers thought of the product you're considering. There are an increasing number of forums and websites where customers can  leave reviews detailing their experiences with a product: from cans of soup to luxury holidays, you can find reviews on just about anything. These reviews vary in quality and it will usually be quite easy to see which you should be paying attention to and which should be brushed aside. Of course, not everyone has the same experience with a particular product, but be on the lookout for patterns such as common defects.

Conclusion

Think before you buy and don't be tricked into spending more money than you want or need to. Consider all the other options and find out what experiences other buyers have had. If you do decide to make the purchase, consider whether you can get it somewhere else or if you're entitled to a discount.