How Much is Your Personal Information Worth

Most people undervalue their personal information, giving it out for only a few dollars. This is happening so often that it is becoming the norm.

If you are looking to make money online it’s easy, give out all your personal information doing surveys.

You might not know what they are going to use it for but hey you made a couple of dollars. But is your personal information worth more than a couple of dollars?

Online survey sites are a great example of giving out all your information for such little in return. I can see the appeal of doing surveys, it something you do during your downtime to make a few extra dollars.

But do you ever realize how much information you are giving to these people? Most people don’t. Here are some questions to make you more aware of what happens with your personal information.

Why do they need your personal information?

I see why companies use surveys to find out what your market segment thinks about and what they care about. For brands to be able to hear straight from their customers is great.

So I have nothing against asking a few simple questions. But when you sign up with a survey site before you can take a “real” survey one must fill out an assessment.

And those assessments need a lot of information. Besides basic things like age and gender they also ask things like what is your living situation? If you live with other people what are their ages and gender?

How much money do you make? What field do you work in? That a lot of information to be giving out to someone who doesn’t really need it. Which brings me to my next question.

What are they using your personal information for?

Data is king nowadays. The more information a business has about you and similar customers the easier it is for them to target you. They can send out personal coupons or entice you with sales into shopping more.

Since you are reading this personal finance blog I’m guessing you care about your money and where it goes. So why would you give your information to people that might use it to get you to buy more?

How much are they paying for your personal information?

Most companies will pay for every survey you take. It sounds great or at least until you realize what they actually pay you.

Most places pay you only a few dollars per surveys that often end up taking 15 minutes or more. Doing surveys are not going to make you rich even if you could devote whole days to them.

You could probably make more money working almost any other job out there. I’m not advocating for higher paying surveys here, rather I’m trying to make you aware of how much you are giving out for such little in return.

Is it safe to give out that much personal information?

Personal information is usually personal for a reason. The more someone has, the easier it is for them to impersonate you or hack into your accounts. Consider these questions before giving out personal information.

Is this my security question somewhere? Could someone open accounts in my name with this information? Can it be used against me?

And this isn’t to say you are not allowed to tell anyone anything ever. Of course, tell people your name, tell them your birthday.  Just be aware of how much you are sharing and who are you giving it too.

If your friend and family know your full legal name as well as your birthday and all your pets name that normal.

If a stranger online wants to know those things, be careful. You might think that who cares that information is already out there.

But there is a big difference between your friends knowing or strangers knowing. In this situation, I would probably not give out that information for no reason as that information may be your answers to your security questions making it easier for them to hack into your account.

I want everyone to be aware of how valuable their personal information is. This will help you to protect yourself from scammers and hackers. Please be conscious of how much you are sharing online.

Remember to ask what could that information be used for? And it ok to say I don’t feel comfortable sharing that. Protect your information, it is valuable.

You don’t get what you don’t ask for so I’m asking you to share How to Protect Your Personal Information post by pinning the image below. Thanks!

How much is your personal info worth