You’ve probably seen the ads for The Penny Hoarder popping up on your social media feeds promising easy ways to earn or save some extra cash. It all sounds too good to be true, right? Before you dismiss it as just another scam looking to take your money, hold up. The Penny Hoarder is actually legit. As someone always on the hunt for honest ways to pad your wallet, you owe it to yourself to check them out.
Started back in 2010 by Kyle Taylor, The Penny Hoarder’s mission is to provide real solutions for real people looking to make and save money. They cut through the clutter of unrealistic “get rich quick” schemes and shady offers to bring you practical advice and resources to improve your financial situation. Everything from ways to earn extra income on the side to the best high-yield savings accounts and budgeting tools to help you keep more of the money you make.
The Penny Hoarder has you covered with real stories from real people who’ve been in your shoes and found ways to come out ahead. Give them a look – your bank account will thank you.
What Is the Penny Hoarder?
The Penny Hoarder is a personal finance website aimed at helping regular folks earn and save more money. Started in 2010 by Kyle Taylor, the Penny Hoarder’s goal is to provide practical, realistic money-making and saving tips.
The website offers ways for you to make extra money on the side with things like online surveys, market research studies, website testing, and other small tasks you can do in your spare time. They also provide tutorials on how you can save money in your daily life by cutting expenses, budgeting better, and getting out of debt.
The Penny Hoarder makes money through advertisements and affiliate links on their site. While some offers may provide perks or payments for referrals, the Penny Hoarder itself is free to use. They have a large community of writers and contributors who provide all the content and advice.
The site is updated daily with new articles on ways to earn, save, manage and invest your money. They have sections on side gigs, saving money each month, paying off debt, budgeting, and investing for the future. The content is written to be straightforward, practical and relevant for the average person.
With useful money tips, real-world advice and a supportive community, the Penny Hoarder can be a helpful resource. While some offers may be misleading, the site itself is legitimate. As with anything, use your best judgment. But if you’re looking for realistic ways to improve your financial situation, the Penny Hoarder is worth checking out.
How the Penny Hoarder Makes Money
The Penny Hoarder makes money through several streams of revenue.
The biggest source is advertising on their website. With over 22 million monthly visitors, The Penny Hoarder is an attractive platform for companies to promote their products and services. They work with advertising partners and networks to fill their site with targeted ads. The more people who visit and the more pages they view, the more The Penny Hoarder can charge for ads.
They also feature sponsored content from brands, like blog posts, videos, and interactive tools. Companies pay The Penny Hoarder to produce content highlighting their product or service, which is a win-win. Readers get useful information and recommendations, while brands get exposure and traffic.
The Penny Hoarder makes money when readers sign up or make purchases through affiliate links or referral codes on their site. They promote credit cards, bank accounts, investment platforms, and other financial products and services that pay referral fees. So if you open a new credit card through The Penny Hoarder’s link, they’ll earn a percentage.
They offer paid memberships with access to premium content and tools to help you improve your finances. For a monthly fee, you can join The Penny Hoarder Plus for personalized assistance to pay off debt, build wealth, and reach other money goals. They also have a paid course on how to make money blogging.
The Penny Hoarder hosts live and virtual events, conferences, and meetups. Attendees pay for tickets and brands often sponsor events. It’s an opportunity for readers to engage with the brand in person while providing another income stream.
With a mix of advertising, sponsorships, referrals, premium services, and events, The Penny Hoarder has built a sustainable business model helping millions of people make and save money. Pretty clever for an organization with “hoarder” in the name!
Is the Penny Hoarder Legit? Evidence It’s Not a Scam
So, is The Penny Hoarder legit or just another scammy “make money online” website? After reviewing The Penny Hoarder, there are several signs that point to it being a legitimate resource.
It’s been around since 2010.
The Penny Hoarder was founded in 2010, so it has a long and established track record. Fly-by-night scams usually don’t last that long.
It provides helpful money-saving content.
The Penny Hoarder publishes useful how-tos and life hacks to help you save money in your everyday life. From ways to cut your cable bill to tips for saving on groceries, their content is meant to actually help readers.
It makes money through reputable means.
The Penny Hoarder earns revenue through advertising, affiliate marketing, and sponsored posts – all standard ways media companies monetize. They aren’t charging readers hidden fees or promoting dubious money-making schemes.
It has a positive reputation.
The Penny Hoarder has been featured in major media outlets like The New York Times, CNBC, and USA Today. It has overwhelmingly positive reviews from readers and has a solid 4.5-star rating on Sitejabber and Trustpilot. Reviews mention the helpful money-saving advice and lack of “get-rich-quick” scams.
It provides full disclosure.
While no source is perfect, The Penny Hoarder checks out as a legitimate personal finance resource. They provide genuinely helpful content and operate with transparency and ethics. So you can feel confident using their money-saving tips and recommendations. Overall, The Penny Hoarder seems focused on empowering their readers to improve their financial lives in a honest and trustworthy way.
The Penny Hoarder Reviews From Real Users
The Penny Hoarder has been around since 2010, so there are many reviews from real users over the years. Here’s what people are saying:
A lot of people who’ve used The Penny Hoarder love the actionable money-saving tips and how the content is tailored for regular people. Comments like “realistic advice” and “practical tips for average folks” are common. The Penny Hoarder Community on Facebook, with over 1 million members, shows how much people enjoy connecting with each other, sharing their success stories and supporting one another.
- “I’ve saved hundreds each month thanks to the useful advice on The Penny Hoarder.”
- “Love how they break down complicated topics into easy-to-understand steps.”
- “The Penny Hoarder posts real stories from real people. It’s refreshing and inspiring.”
Of course, not all reviews are positive. Some critics argue The Penny Hoarder focuses too much on referral links and sponsored content to make money. Others say the advice is too simplistic or the website is disorganized.
- “Too many ads and affiliate links. Seems like they care more about making money than actually helping people.”
- “A lot of the ‘tips’ are common sense things people already know.”
- “The website layout is messy and hard to navigate. I have a hard time finding what I’m looking for.”
While no company or website is perfect, the majority of reviews for The Penny Hoarder are quite positive. At the end of the day, if their practical money-saving advice and supportive community help motivate and empower you to improve your financial situation, then The Penny Hoarder is doing its job. The affiliate links and ads are an understandable way for any free website or blog to generate revenue to stay up and running.
As with anything you read online, take the advice and reviews with a grain of salt. Focus on what works for your own unique situation. If The Penny Hoarder’s mission and content resonate with you, then you’ve found a helpful resource. If not, keep searching for one that does. The most important thing is that you take that first step to better managing your money.
Tips for Using the Penny Hoarder to Save Money
The Penny Hoarder offers some useful tips and tools to help you save money in your daily life. Here are a few ways to maximize the site and start stashing more cash in your pocket:
Set a budget
The first step to saving money is knowing how much you spend. Use their budget calculator to add up your income and expenses. See where you can cut costs by reducing or eliminating unnecessary spending on things like dining out, entertainment or hobbies. Even saving $10 or $20 here and there can add up to big savings over time.
Look for coupons and promo codes
Search the Penny Hoarder site for coupons and promo codes before you shop online or in stores. They offer thousands of ways to save on everything from clothing and groceries to travel and electronics. Some codes offer 10-20% off or more. Stack multiple codes for the biggest savings when possible.
Take advantage of freebies
The Penny Hoarder publishes lots of opportunities to score free samples, full-size products, gift cards and more. Sign up for their free daily newsletter to get the latest freebies delivered to your inbox. Some offers are first come, first served so act fast. These free products and gift cards are a easy way to save money in your budget.
Do market research
Before making any big purchase, do some comparison shopping on The Penny Hoarder. Read reviews from real users to determine the best value for your needs. Check historic price data to see the best time of year to buy certain items. Buy used or refurbished when possible to save the most. Knowledge is power when it comes to saving money.
Look for additional income
In addition to reducing your spending, making more money is the other side of the saving money equation. The Penny Hoarder lists tons of ways to earn extra income in your spare time through things like taking online surveys, market research studies, website testing and more. An extra $200-$500 a month can go a long way toward paying off debt or saving for important life goals.
Using all the resources The Penny Hoarder has to offer, you’ll be well on your way to keeping more money in your bank account where it belongs. Follow these tips and watch your savings grow over time through the power of small, consistent changes.
Q: Is The Penny Hoarder a legitimate website?
A: Yes, The Penny Hoarder is a legitimate website that provides personal finance advice and resources.
Q: Can I trust the information provided on The Penny Hoarder?
A: While The Penny Hoarder is generally considered a reputable source of information, it’s always a good idea to exercise your own judgment and do further research when making financial decisions.
Q: Does The Penny Hoarder offer reliable advice?
A: The Penny Hoarder offers a wide range of articles, videos, and other content on various personal finance topics. While their advice can be helpful, it’s important to consider multiple perspectives and consult other trusted sources before making any financial choices.
Q: Are there any risks associated with using The Penny Hoarder?
A: Using The Penny Hoarder website does not pose any inherent risks. However, it’s essential to be cautious and skeptical of any financial advice or offers that seem too good to be true. Always exercise your own judgment and be mindful of potential scams or misleading information.
Q: Can I rely solely on The Penny Hoarder for my financial decisions?
A: It’s generally not recommended to rely solely on one source for your financial decisions. While The Penny Hoarder provides valuable information, it’s beneficial to consult multiple sources, conduct your own research, and seek professional advice when necessary.
Q: Does The Penny Hoarder have a good reputation?
A: The Penny Hoarder has a large community of readers and is often featured in reputable media outlets. However, reputations can vary, and it’s always a good practice to read reviews, consider different opinions, and form your own judgment.
So is The Penny Hoarder a scam or legit? After reviewing all the details, it looks pretty legit to me. They’ve been around for years, have a solid reputation, and there are tons of success stories from real people who’ve earned and saved money using their resources. While some offers may be hit or miss, that’s pretty typical of most websites that provide ways to earn or save extra money. As with anything, if an offer sounds too good to be true, it probably is. But overall, The Penny Hoarder seems like a useful resource for anyone looking to earn a little side income or find ways to cut costs and keep more cash in their pocket each month. Give it a look – you’ve got nothing to lose and at least a few pennies to gain!