Big drop to my survey income :(

[disneysteve]

I got an email today notifying me that one of the main medical surveys I do will be ending on April 1. This program has been going on for years and pays me $150/month. I knew it wouldn't last forever but I'm certainly not happy that my monthly income will be dropping by $150 in a couple of weeks. That's a significant amount. We're definitely going to need to think about where we might be able to trim back a little bit. I'm also going to have to be extra vigilant about doing all of the other surveys that I get invited to do to try and make up the difference.

[creditcardfree]

Loss of income is always disappointing.

[disneysteve]

I have a great update on this post.

After I received the email saying the honorarium was ending, I responded to their support department to express my disappointment that they now wanted me to continue sending data every month for free.

I got a call this morning from the person who handles my account. He mentioned that even though the honorarium was ending, they would continue to provide my iPhone and cellular service. I told him that I don't get my phone and service from them. I have my own. Apparently, for the past 5 years, my file has been wrong. I've been getting the proper payment. It was just in their system wrong. He said he would call me back.

A short time later, he called again and apologized for the mix up. He did confirm that I have my own phone. In that case, the honorarium isn't ending. It is just being reduce from $150/month to $100/month. I can deal with that a lot better. So still a little dent in the income but nearly as significant.

It always pays to ask questions.

[creditcardfree]

So other people were getting a phone in order to take surveys? I'm glad to hear you will still get some money.

[disneysteve]

So other people were getting a phone in order to take surveys? I'm glad to hear you will still get some money.

Yes, the original deal was either use your own iPhone and get paid $150/month or they provide an iPhone and service and you earn a lesser amount ($120 maybe, I don't remember).

So not, for the people who have their phones supplied, they are dropping the payment to zero but still providing the phone and service. But for people like me who provided our own phone, they're just lowering the payment to $100.

It isn't a bad arrangement since they are now asking for a lot less data to be collected. Of course, I actually still need to collect some of the very same data because I use it for another survey panel but at least I won't be entering it twice anymore.

[rennigade]

This is another example of why its so important to live below your means. You never know when the money is going to stop. Unexpected things happen. This doesnt apply so much to DS since he is responsible with money...but those who are living paycheck to paycheck or have a lot of debt...be careful.

[disneysteve]

This is another example of why its so important to live below your means. You never know when the money is going to stop. Unexpected things happen. This doesnt apply so much to DS since he is responsible with money...but those who are living paycheck to paycheck or have a lot of debt...be careful.

I would argue that it applies to pretty much everyone. It's true that $50/month isn't going to break us, but it is still significant, and had the original email been correct, it would have been even more significant to see our income drop by $150/month.

Even though we don't live paycheck to paycheck, that money still needs to come from somewhere. Something in our budget has to change. There is now going to be $50 less every month available for spending or saving. That might mean eating out less, paying more attention to coupon-clipping, doing some more comparison shopping, reining in some impulse purchases, giving less to charity, reducing extra debt payments, whatever. Even when you are living below your means, you still need to account for every dollar somehow.

[CashUp Sammy]

If you can add $150 to your monthly income, and do so from a few avenues, it makes a great little bit of walking around money.

Good to hear things are working their way out Steve.

[Singuy]

I got an email today notifying me that one of the main medical surveys I do will be ending on April 1. This program has been going on for years and pays me $150/month. I knew it wouldn't last forever but I'm certainly not happy that my monthly income will be dropping by $150 in a couple of weeks. That's a significant amount. We're definitely going to need to think about where we might be able to trim back a little bit. I'm also going to have to be extra vigilant about doing all of the other surveys that I get invited to do to try and make up the difference.

Man Steve, you sound like a starving artist..except you're a MD

Ever thought about opening up your own practice and stop dealing with 150/month chump change?

[disneysteve]

Man Steve, you sound like a starving artist..except you're a MD

Ever thought about opening up your own practice and stop dealing with 150/month chump change?

First, I'm not an MD. I'm a DO.

Second, if you speak to most any doctor today, especially those in primary care, you'll learn that while many aren't starving they're getting closer to it. Income has been falling for years. I make less today than I made 15 years ago. So looking for secondary income sources gets more and more important, whether that's doing medical surveys, selling things on ebay, or whatever. Despite common perception, doctors aren't sitting around raking in big bucks like they did 20 or 30 years ago. I have many, many friends and relatives in various other fields making far more than I ever have.

[Singuy]

First, I'm not an MD. I'm a DO.

Second, if you speak to most any doctor today, especially those in primary care, you'll learn that while many aren't starving they're getting closer to it. Income has been falling for years. I make less today than I made 15 years ago. So looking for secondary income sources gets more and more important, whether that's doing medical surveys, selling things on ebay, or whatever. Despite common perception, doctors aren't sitting around raking in big bucks like they did 20 or 30 years ago. I have many, many friends and relatives in various other fields making far more than I ever have.

You sound like my co-worker..racking up 150k/year and still looking for surveys to do as if he's starving..lol

Now what he did with his income was saving/buying properties near universities to rent. He has 6 properties now, all being rented. Because he's a LLC, he gets WAY more tax breaks than ever before..paying an effective tax rate of 9% on an income of almost 200k(if you include the rentals).

I'm not sure if you are incorporated or not, but being incorporated and starting a business of some sort will save you money instantly.

[disneysteve]

That's great news. Congrats! Can you tell me more about these kind of surveys? Where do you find them?

I'm referring to medical market research surveys that are only offered to medical professionals. If you are a physician, I can send you some info.

[disneysteve]

You sound like my co-worker..racking up 150k/year and still looking for surveys to do as if he's starving..lol

I'm certainly not starving but seeing my income steadily drop over the years still isn't easy. None of our bills or expenses drop. They just keep going up at the same time my income keeps going down. Even though we are fairly frugal, it still makes it harder and harder to maintain the same lifestyle we used to have.

I certainly realize that we make good money, well above the national average. But having no increase for going on 15 years does chip away at our purchasing power and our ability to save and invest for the future.

[Singuy]

I'm certainly not starving but seeing my income steadily drop over the years still isn't easy. None of our bills or expenses drop. They just keep going up at the same time my income keeps going down. Even though we are fairly frugal, it still makes it harder and harder to maintain the same lifestyle we used to have.

I certainly realize that we make good money, well above the national average. But having no increase for going on 15 years does chip away at our purchasing power and our ability to save and invest for the future.

Can you please enlighten me what do you mean by drop in earnings? Do you work for an organization or have your own business?(so are we talking about salary being stagnant or reimbursement decreasing?)

[disneysteve]

Can you please enlighten me what do you mean by drop in earnings? Do you work for an organization or have your own business?(so are we talking about salary being stagnant or reimbursement decreasing?)

I'm in private practice. Expenses steadily rise over time - utilities, insurance premiums, office maintenance, staff salaries, office supplies, medical supplies, etc. Everything gets steadily more expensive. The problem is that income doesn't rise to keep up with rising expenses. So the net income of the practice after all the bills are paid trends downward.

Add in personal expenses at home - utilities, insurance, food, clothing, etc. and the money that is coming home doesn't go as far as it used to either.

Again, I'm not crying poor by any means. We make a good living and have a comfortable lifestyle. I'm just saying that it is much harder to maintain that lifestyle than it used to be.