Once you’ve created a Fiverr account and posted a few gigs, the customers come to you. Although the going base rate is $5, you can tack on bonus features that drive up the sticker price. For example, I offered super-speedy delivery (a four-hour turnaround) and detailed commentary for $10 each. The good news is you’re always guaranteed payment through the site, so there’s no risk of doing work you’re not compensated for. The not so good news is it does take 14 days from completion of an order until you can withdraw your money.
All in all, I made $75 after working two weeks—and six gigs—on the site. And I spent just over three hours actually completing tasks, like editing a blog post. That translates to $37.50 a week, which isn’t much at all. But multiply it by 52, and you’re looking at an extra $2,000 annually. Not bad for just 90 minutes of extra work a week.
It can be difficult for newbies to attract customers on Fiverr, as the site relies heavily on seller reputation: Potential customers see how many jobs you’ve completed, and past customers rank you on a five-star system, in addition to leaving reviews—which you obviously don’t have when you first join. Honestly, I expected to make a good bit more cash, faster, than what I ultimately did. I assume I’d make more the longer I stay on the site, but it definitely doesn’t happen right away.
Another issue is that you could potentially find yourself doing a job that takes more time than it’s worth—say, spending two hours on something that pays just $5. That’s why it’s important to make sure you don’t over-promise in your service offerings. But probably the biggest drawback to Fivver is the fees. The site takes a 20 percent cut out of each service you book. Had I not forked over the 20 percent, I’d have $90 from two weeks of work instead.
While it’s not likely to be your best source of fast cash in an emergency, Fiverr could be a good way to earn extra on the side so you never get stuck in the first place. “Starting an emergency fund should come before anything else,” says Euretig. “Even saving just $10 or $20 a week—say, from your Fiverr account—can go a long way in building stability over time.”
November 10, 2016
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