Do you cashout your earnings immediately after reaching the minimum payout?

@wrangel15 (1443)
Philippines
May 29, 2008 6:09am CST
You may be also earning from other sites aside from myLot. Do you cash out your earnings immediately when your money reaches the minimum payout? I currently have two accounts that already reached the minimum. I haven't cashed them out yet. I want the sum to reach a certain amount so that I can invest it later. I've just learn that I should not just spend the money I get but invest it also. I'm planning to make the money grow more by investing it online also. How about you? Do you get the money you earned immediately upon reaching the allowable amount to be cashed out?
9 people like this
40 responses
@paid2write (5201)
29 May 08
At myLot you can choose your own payout limit. The default minimum payout is $10 and if you have reached that amount by the end of the month you will automatically be paid the following month. If you don't want to be paid you should set it to a higher level. When I am earning at another site I always withdraw as soon as I am allowed. The money can stay in your PayPal account if you want, but I personally want it in my own bank account so I will withdraw it from PayPal as soon as I can.
1 person likes this
@compumom (738)
• United States
29 May 08
I agree with you paid2write. As soon as I'm able to receive it, I take it and let it sit in my Paypal account. I'd rather have access to it if I need it. Also, what happens if the site you're earning money from happens to go under and they have your money in their account? Not that it will happen that way, its just that once I earn it, I want to be able to put my hands on it.
1 person likes this
@MZKUMA (705)
• United States
30 May 08
I now cash out. Too many sites are taking the money and running. I have lost too much in total waiting a larger cash out. I will let it simmer in my acct.
@wrangel15 (1443)
• Philippines
30 May 08
I see. If you put the money you earned on your PayPal account you can get it more easily by the time you need it compared to letting it increase in your earning sites account.
@Ldyjarhead (10233)
• United States
29 May 08
I will usually opt to set the lowest payout and take my money as soon as it's available to me, at least the first time I am paid by a particular site. With so many of them starting up and folding shortly thereafter, it's hard to say if they will be around if I let my earnings accumulate. Even though I trust myLot completely, I still have my earnings level set to the lowest amount of $10. I can still let it accumulate in my PayPal account as long as I want.
1 person likes this
@wrangel15 (1443)
• Philippines
30 May 08
Yes, I also have heard earning sites that just closed. Too bad for it to happen sometimes where the owner and the members experience the loss. For sure you already have more than one payouts base from your number of posts here in myLot.
@Ldyjarhead (10233)
• United States
30 May 08
Yes, I joined in mid-February and have been paid every month by myLot.
@lingli_78 (12822)
• Australia
29 May 08
oh yes... i always cash it out as soon as i reach the minimum payout... i prefer to have my money to be in my paypal or alertpay account rather than left it in the site... i just feel more secure if it is already in my account and i can do anything with it... take care and have a nice day...
1 person likes this
@wrangel15 (1443)
• Philippines
30 May 08
That's a good idea. Immediately cashing out the money you earned from a site makes you feel more secure especially when the site is a new one. Having the payout especially for the first time from the site you're earning is a good way of being confident the site is not a scam.
@subha12 (18441)
• India
29 May 08
i only earn little from mylot. so there is no option rather than getting the payout. so i just receive. i trav=nsfer that money to bank account when i badly need that.
1 person likes this
@sdas86 (6076)
• Malaysia
29 May 08
Hi, If I reach the minimum payout, I will cash out as soon as possible. I will not wait because I'm scared that the next day, the money will be gone. I want to get the money to do other investments.
1 person likes this
@wrangel15 (1443)
• Philippines
30 May 08
So far that the best way to secure the money you've earned on-line.
• China
31 May 08
I am new here and after reading all the stories in your discussion. I'm sure I will cash the money out immediately when my money reaches the minimum payout. But there is another question. When can my money reach the minimum payout? How many posts should I post to get $10?
@wrangel15 (1443)
• Philippines
5 Jun 08
Reaching the minimum payout is relative not only to the number of posts and I can't answer your question. What I can give is advice on how to increase your earnings. Just keep on posting and elaborate on your posts. It will make your posts longer which will help you earn more. It will also give you bigger chance of giving the best response if you elaborate more which also increases you earnings.
• China
6 Jun 08
Thank you for your explanations. I've got a lot from many great people like you and I am trying to do so. Thank you again!
@cutepenguin (6431)
• Canada
29 May 08
I usually do, because I am trying to get out of debt, so the more I pay, and the more quickly I pay on my credit card bills, the less interest I will end up paying.
@wrangel15 (1443)
• Philippines
30 May 08
I understand your situation. Credit cards are supposed to be paid every month. Staying on debt for a longer time will only increase it. Earnings online can really help you on that if you receive a payout each month.
@Zmugzy (773)
29 May 08
I really would advise anyone to cash out immediately. That is what I intend to do. However, I think it's been two years or more now since I joined the site and I've still only earned $7. I could be waiting a long time yet.
@wrangel15 (1443)
• Philippines
30 May 08
Yes. Cashing out immediately is a good idea since it give you, not the site, to handle it by yourself. I guess you're talking about myLot regarding the site you've joined in. It's okay if you've only earned that amount of money at this point in time. For me, t only tells that we should not just rely our earnings through the Internet. Here in myLot, I've learned some tips to maximize earnings by being more elaborative when posting a response or discussion. Another tip is not to post referral links or posts that can be deleted by myLot which can decrease our earnings. :)
• United States
30 May 08
I will as soon as I reach that goal for the first time. I would rather have it in my possesion. I can always set it aside. I have plenty of self control.
@wrangel15 (1443)
• Philippines
30 May 08
That's good. Spending money especially if you have enough of it is hard to control. It is a good character having the control of one's self when handling money.
@indrit (27)
• Albania
29 May 08
As soon as I will reach that minimum no doubt i will cashout, what do I have to wait for. Or should I give my money for charity. A better question should be how much have you been earning from mylot.
@wrangel15 (1443)
• Philippines
30 May 08
There are many reasons of waiting for sometime for the cashout. In my case I want it to reach it the amount I want. There are other sites where you can earn and where they give you the freedom when to cash your money out as long as you've reached the minimum amount allowable to cashout already. On my earned money ready for cashout, I want it to be invested and I can only invest it if it reaches the amount I'm waiting. I'm making sure that I can cash it out the time I am ready to use it for investment. If I cash it out now, the current money is not enough for investment that I will have to wait for the next payout. I have read many discussions here in myLot asking other members how much they earn here. For me, it is a better question to ask what they do to maximize their earning here in myLot.
@jessje (145)
• United Kingdom
29 May 08
I cashout at every site immediately, I do not let it build, simply because there are too many sites that just dissapear with all the money they owe. I let it build in my paypal and use it for christmas shopping every year.
@wrangel15 (1443)
• Philippines
30 May 08
Yes, some sites can disappear without their notice. You have a point on that. We are not sure the site will give us the money if ever their site goes bankrupt. It's good having extra money for the Christmas time by the way. :)
• United States
29 May 08
personally i let it sit for a while. yeah its pretty cool to make the minimum payout, but i like to see just how much i can make. withdrawing it makes it available for me to spend and im trying to save up for something really special for me. granted this is the long way around to do that but it definately helps make the process just a little bit quicker. so i like to let it sit and earn well beyond the ammount i have set for my minimum payout.
@wrangel15 (1443)
• Philippines
30 May 08
Yes, withdrawing the money can temp you to spend it on anything you want. Letting it stay on the site is a sort of saving. It is a good attitude and I like it. Now, I'm waiting for a certain amount to be reached so that I can invest the money later.
• India
30 May 08
well im just new to this but when i reach to my limit of$10 then i will just cash out and kep it safe in my pay-pal. well if possible can you help me and say more sites from where we can earn money the same way?
• United States
9 Jun 08
well when i join a site that pays. teh first time i get to the minimum payout , i cash out. then if they pay on time, i wait to cash out the next time until its more saved up. Some sites i go to just mail out checks monthly without requesting payment. i now have paypal and any of my survey sites that offer that i go for that. but i set goals at each site- so far all the sites ive cashed out have paid (exept NW). you never know when a site will disappear or change its TOS and you could loose what you had earned already, like NW.. wont say what site that is, but they jabbed me for the $150 i cashed out for and they promised payment several times, then just changed the TOS and we all were out.
@wrangel15 (1443)
• Philippines
9 Jun 08
I know what you feel to your first payouts. It is hard to believe that a site really pay unless you yourself get your earnings. Also, there are sites that are really not stable that we have to cashout immediately than feel sorry later if the site was bankrupted or hacked in other cases.
@TriciaW (2441)
• United States
29 May 08
I do cash out but at times I will keep part of it in my account and send the rest to my bank. What I keep in either my alert or paypal account I use to invest in other things. I figure investing in my income is a great thing.
@wrangel15 (1443)
• Philippines
30 May 08
Lately, I've just learned that we should not just spend our resources but invest it also. It is a good attitude making for an investment through the things we have. Many people just spend by the time they get money and find it out later that they should have invested some of it instead to make it grow more.
@swirlz (3136)
• Philippines
13 Jul 08
Yes, I would cash it out immediately because I'm excited to receive my payment. I don't believe in investing my money online because it might turn out that the site would close, so I'll be losing more money instead of earning it.
@sweety_81 (2124)
• India
28 Jul 08
Well; I am yet to reach to the Payout to consider such a scenario . Still ; I feel that I would not immediately cash out in such a situation .
• India
29 May 08
I think everyone has its own fears so everyone want to make sure that the money they have earn should be kept in a safe place. Therefore everyone just withdraw the amount as it reaches the minimum payout amount.
@wrangel15 (1443)
• Philippines
30 May 08
You're right. Getting the money as soon as possible makes it more secure in your hands. But if the site is really safe and reliable, we can just leave it there for some time we want the money to stay on the site.
@mtsandeep (1586)
• India
29 May 08
I haven't got much from mylot. I enjoy every moment in mylot. I am sure i will reach my payout within a month. I will cashout as soon as possible. I have to check how fast will they trasfer the money. So that i can be sure about their word.
@wrangel15 (1443)
• Philippines
30 May 08
MyLot has many members and I know they are feeling great about. I'm sure they are true to their word. Just keep on posting and enjoy until the payout.
@ocean4 (236)
• Canada
13 Jul 08
I cashout as soon as possible. If something go weird with the site and you cant get your money, what happens then? I prefer to have the money sitting in my paypal account if I dont have a use for it right away.