If you are short on money, there are a few ways to make some cash and do a good deed, needing nothing but yourself. Hospitals and universities and always running experiments to further their research and they need a steady flow of participants, who are typically compensated with gift cards or cash payments.
Medical Research and Experiments
Psychological research study activities can vary from completing short quizzes to responding to videos to interacting with others. Most experiments are harmless, but it is important to read the consent forms and ask any questions before beginning. You should be comfortable before starting any process or signing any forms. Psychological experiments usually do not require participants to take any drugs or placebos and have a shorter duration that clinical drug trials.
Clinical drug trials are better suited for those with health issues or concerns, as they will provide free cutting-edge, experimental treatments in addition to compensation. Many trials have a control group that receives a placebo and a second group that takes new medication to research conditions like high cholesterol or high blood pressure.
You can find possible opportunities listed on local university websites, research hospital bulletins, and online databases. There is a government sponsored site that allows you to search for studies in your region, filtered by the condition being researched. Some studies require information on family history, genetic background, lifestyle, etc., so read the advertised opportunities carefully.
Plasma
Selling plasma is one of the easiest ways to give your wallet a little extra padding. It’s a favorite method of college students, as it doesn’t take time and you can earn about $70 each week.
Typical plasma donations take less than an hour, do not have long-lasting effects, and are pain free. To donate, you must be over 18, weigh more than 110 pounds, and have a clean bill of health. Donated plasma is used to study and treat autoimmune diseases, disorders that complicate blood clotting, and other health problems. Licensed donation centers and answers to common questions are readily available online.
Sperm and Eggs
Selling sperm and eggs is a complicated undertaking. The maximum payment for a sperm donation is approximately $200, but egg donations can earn thousands of dollars, up to $10,000. However, for that large of a payout, you’ll have to do some groundwork.
A woman donating eggs must be in excellent health, but that is not all; most locations require a clean family health history and the donor must be free from diabetes, heart disease, dementia, cancer, and other conditions with genetic factors. This usually starts with a blood test and STI screening, but the overall process can take weeks. It is not a get rich quick scheme, but the donation will help other people start a family and help the donor eliminate debt and save for the future.
What’s Next?
Want more great tips to help you meet all your budget goals? Sign up for our “Be Money Smart & Build Your Credit History” newsletter for practical advice and the chance to win free rent!