Do you always cash out as soon as you reach a payout of every ten dolars?

United States
June 14, 2007 7:18am CST
I have noticed people complaining there earnings are dropping, but I was curious I havent used my first payout I was kind of waiting till I got to twenty bucks before I decided to get a payout. Is this a bad idea? should I cash it out asap? My thoughts were ten bucks isnt going to buy much so I would just wait till it got built up a bit more. In fact twenty bucks will hardly cover a trip to McDonalds for my family. I am not sure how this works so it could be I am loosing out on money without even knowing about it.
8 people like this
16 responses
• United States
14 Jun 07
As soon as I reach my first ten dollars I will probably end up cashing out. I know $10 doesn't buy a whole lot but I plan to use the money for my daughters college fund :)
3 people like this
@lecanis (16647)
• Murfreesboro, Tennessee
15 Jun 07
The only way you could lose money by letting it sit here is if mylot went under or something. Once the payout time is reached, whether you choose to take your money or not, the money that you made for that month won't be adjusted again. All of those thread deletion and such adjustments are done before the end of the payout period, so you don't have to worry about them continuing to change your earnings after everyone else has gotten paid. I choose just to set my payoout to $10 so that I get paid every month, but I've never actually made as little as $10 in one month. The only month in which I've made less than $20 was my first month here, and that was because I didn't join until halfway through the month, and most of the time I make more than $30. I don't know if that means I'm doing good or that I spend too much time here. =p
1 person likes this
@lingli_78 (12821)
• Australia
15 Jun 07
i usually let my money to stay in paypal account once it reaches the minimum of $10... mylot will automatically send it there... i just leave it there for emergency fund in case i need to use it one day...
1 person likes this
@Shaun72 (15959)
• Palatka, Florida
14 Jun 07
I agree it isn't much but it's still neat to know that you are making money for just responding to disscussions and also starting them to to me it's worth it.
1 person likes this
@sunshinecup (7871)
14 Jun 07
Well I use Paypal and the last time I left money in there, they charged me for it. I didn't know funds had been deposited and just checked my paypal one day. Nice surprise, but because it had been over I think 30 days or maybe it was 45, they charged me. So I don't leave funds setting longer than a week for this reason. Also, I use my profits from mylot to pay my internet bill, so I can't let it set for more than a month any way.
1 person likes this
@suspenseful (40192)
• Canada
14 Jun 07
I put the money in my Paypal account. When I get$25 I download it to my checking account, and if I have something to pay, I transfer to Visa, but if I do not I transferor put it in to one of my interest savings accounts . Since the money left in Paypal does not have any interest, unless it is under $20 (I am Canadian and $20 is the minimum one can withdraw) and I do not want to put my bank account information on Paypal, I feel this is the right thing to do.
@magikrose (5429)
• United States
14 Jun 07
Honestly the choice is totally up to you. I do agreewith yo uthat letting it build up is a great way to have a larger payout but at the same time you dont want them to take any earnings away for any reason. What you could do is request payout and just let it sit in your paypal/e-gold account untill you accumulate enough to do what you want to do. That is what I am going to do.
1 person likes this
@asmurthy (2461)
• India
15 Jun 07
It is better that you opt for $10 pay out. You don't know what will happen to you in future in mylot. If you are debarred from mylot you lose all the ammount you have accumulated. I have seen many people disappearing from mylot as they have been banned.
@chiyosan (30186)
• Philippines
15 Jun 07
yes. i think i need to. i dont want to keep it too big in my account, afraid that i might lose it.
@amaine (2027)
• Philippines
15 Jun 07
Well, those people who are complaining about losing their money or something might be violating the rules in mylot. I have been here for about three months now and I haven't experienced my earnings to drop. If you are not violating any of those rules, then you shouldn't have anything to worry about. :) I had cashed out everytime I reach $10.00 at the end of the month, and since I have to wait for the payout which is normally on the fifteenth of the next month, my earnings would usually become $15.00 or so. Well, I have heard some people is waiting for a hundred dollars before they can cash out. Haha Maybe I am just impatient that I cannot wait for ny earnings and just wanted to cash out eagerly. I have been paid by mylot twice already and I tell you once again, I have not experienced my earnings to drop. (--,)
@wonderful1 (2075)
• China
15 Jun 07
I will cash out when it reach the minimum payout. But now I don't know how to withdraw them, I dont' have a verified account. And I can't withdraw money directly from any bank in my country, there is no American banks in my country. I'm from China. So now I don't mind cash out when it reach to $100. I received my first $10 payout few days ago. Now I will cash out when it reaches $100.
@abrarr (1246)
• Pakistan
15 Jun 07
well i think i'll stick to teh idea to withdraw aal my earnings at teh end of teh month as soon as each payout. i won't take a minute to do so!!
@semodders (456)
15 Jun 07
i am gonna payout when i reach to $10 because i am going to buy a domain .co.uk and i want it soon as posible but next time i get my earnings i wont spend it i will make it more and then payout but i am realy hoping to get my first payment as i want a domain fast for my website (www.semodders.wmn.cc).
@semodders (456)
14 Jun 07
well i cant wait for my first payment $10 and i will cashout when reach to it because i have to buy a domain and to do that i need cash quickly but after that i wont cash out when i reach to $10 i will cashout when i probbally get to $20 or something like that unless i really need the money, but am trying my best to post quality posts and impress mylot users.
• United States
14 Jun 07
I have mine set at $10. That way I get the money right away and can use it for whatever I want. If I waited until I had 420 saved up it would take forever. I find the topics lately are becoming boring and lame and stuff I have no interst in. There use to be great ones that would make you think but now they are just mostly fluff topics.
• United States
14 Jun 07
i do transfer it at 10,but it sits in the paypal,i haven't used it yet.kind of an online bank account for me. i don't think there's any real money loss in the progress.