083 Financial Excellence: Mystery Shopping and Other Extra Income Opportunities

25 Oct 083 Financial Excellence: Mystery Shopping and Other Extra Income Opportunities


Financial Podcast for budgeting, debt free living and investing

Episode 83: Is Mystery Shopping Legit? (and Other Side Hustle Opportunities), Oct. 25, 2011.

Over the last few months I’ve been taking on some side hustles to earn extra income and see if they’re legitimate ways for our listeners to earn some extra cash. Today I unwrap the mystery behind mystery shopping and discuss whether it’s really worth your time.

At the end of the show I briefly mentioned Living Hope Uganda. This is a cool organization that’s doing more than just feeding hungry people. They’re teaching transferable skills that help the poor in Uganda create income streams so they can feed their own families instead of waiting for help from charitable organizations. If you teach a man to fish… Check out their ministry at livinghopeuganda.org

Don’t forget: Living In Financial Excellence airs LIVE every Tuesday at 10 a.m. CST. You can watch live and join the chat at financialexcellence.net/live-show

Show notes:

Matt & Janelle Recording the Financial Excellence Podcast

  • Mystery shopping often sounds like a scam and there are a lot of scams out there. You need to make sure you’re signing up with a legitimate company. Some of the companies I’ve found that are pretty legit are:
  • Corporate Research International
  • BARE International
  • Maritz Research
  • National Shopping Service
  • Certified Field Associate
  • Market Force Shopper
  • I break down the ins and outs of mystery shopping and how it works. To avoid scams – never join something that requires an initial investment!
  • If you become a mystery shopper, it’s important to remember you’re an independent contractor and you need to track that income separately like you would for a business.
  • It’s reasonable to expect to make $200-$300 per month doing mystery shops but you’ll spend a lot of time earning that $$. It’s not hard work but it is time consuming so be prepared to earn as low as $5 per hour.
  • When it comes to other side jobs, sometimes you just have to be open to opportunities and make yourself available. That’s how Janelle landed her current temporary (full time) job. There are often some seasonal jobs you can pick up to supplement your income.
  • You can influence what we talk about in future shows. Simply fill out this three-minute survey.

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14 Comments
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    Posted at 16:02h, 25 October

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  • krantcents
    Posted at 17:09h, 25 October

    I was a mystery shopper for a restaurant chain. I did it for for 6 months.

  • Jon White
    Posted at 07:41h, 27 October

    Hey Matt sorry I missed the live show, but great topic today. I think it just goes to show that there are jobs available even in these economic times. Granted it might not be a dream job but there are ways to produce income by thinking outside the box.

  • MoneyforCollegePro
    Posted at 03:31h, 01 November

    My experience with mystery shopping has been interesting.

    I have had a problem finding reputable companies who will actually come through on the payment, once the mystery shopping has been completed.

    • Matt Wegner
      Posted at 07:53h, 02 November

      You really have to be careful to check out the companies first. I’ve had good luck working with companies that my friends have shopped for.

  • Aaron Hung
    Posted at 09:15h, 02 November

    I kinda dabber with mystery shopping a while ago but never actually did the jobs because it can take up a bit of your time if you want to make serious money. They wanted me to go to Auto Shops mostly and do reports but I never had time

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  • Sophia
    Posted at 05:52h, 18 December

    “Living Hope Uganda”I have not heard this kind of organization before. It seems to be wonderful and helpful to most of the people who have the needs. I like these contents in your blog, and keep up! 😀

    • Matt Wegner
      Posted at 13:55h, 18 December

      It really is a neat organization, Sophia. I was impressed by the founder and his vision for helping others.

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