The Penny Hoarder: Is It Money In Your Pocket Or Another Online Scam?

The penny hoarder website
The Penny Hoarder Jobs

The cost of living and unemployment rates are on the rise. In the US, the unemployment rate rose to 3.7% in August 2019. This was a 0.1% increase from 3.6% in April 2019. As a result of the rising cost of living and unemployment, more and more people are looking for ways to put a little extra money in their pockets.

Not to mention the people that are just fed up and unhappy working a dead end 9 to 5 job, and are interested in working from home, by starting an online business.

More and more people are turning to the internet to find opportunities to make money. Fortunately, the internet is home to many useful sites that can help you find money-making opportunities online.

But is The Penny Hoarder one of them?

The site offers guides and tips about making money online and personal finance. As an information resource, it does make self-education relatively easy.

Want to learn more about the Penny Hoarder?

In this post, I will tell you about The Penny Hoarder website, and if you can really make money with the site, along with some things I liked, and some of the things that I didn’t like of The Penny Hoarder.

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What Is The Penny Hoarder Website?

The Penny Hoarder is a personal finance website that empowers people to make smart choices when it comes to money. Founded in 2010, the company has its headquarters in St. Petersburg, Florida. Since its founding days, the company has been sharing articles and resources on personal finance.

For example, how to save for retirement, how to make money online and others. As such, the company has been keeping in line with its mission:

“To empower people to make smart choices with their money.”

Today, the site has more than 17 million unique readers every month. It has 6.9 million Facebook fans and more than 1.2 million email subscribers. Not only that. The company is the #1 fastest-growing private media company as recognized by Inc. 5000.

Who Is the Founder of the Penny Hoarder?

Kyle Taylor is the founder of The Penny Hoarder. In 2010, he was like many young people in their 20s. That is, a young man unable to make sound financial decisions and in debt. To get out of the financial mess and make smart financial decisions, he started a blog.

The blog became his avenue to share the steps he was taking to pay off his student loan debt. Also, his blog helped him to hold himself accountable. With a focus on creative storytelling combined with outstanding journalism, The Penny Hoarder was born.

Today, the site is self-funded and profitable. The team at The Penny Hoarder continues to help millions of people around the world transform their finances. How? By providing informative articles and resources thus helping people have less stress about money.

As the current CEO of The Penny Hoarder, Kyle Taylor and his team continue to revolutionize the digital media model.

What Topics Are Included In The Penny Hoarder?

Whether you are a college student, a stay at home mom or dad, disabled, or retired, The Penny Hoarder has information that can be helpful to you.

You can see by the list below, that no matter who you are, there will be something on the website that can be of value to you.

  • Make Money
  • Save Money
  • Budgeting
  • Debt
  • Retirement
  • Credit Scores
  • Bank Accounts
  • Investing
  • Home Buying
  • Taxes
  • Insurance

What Is Included In The"Make Money" Category?

Since you are here reading this post, it’s probably safe to assume that you are looking at The Penny Hoarder as a source to earn some extra money.

So keeping with that theme, I will dive a little deeper into each category.

  • Side Gigs
  • Quick Money
  • Start A Business
  • Career
  • Work From Home

Side Gigs

No matter if you are looking for just a little extra spending money, or plan on starting a business, the “Side Gig” category may be able to help you out.

This section has articles and resources that can help you find side gigs to earn extra money, so you can pay of credit card debt, student loans, or even save for a down payment on a house.

Quick Money

This section specifically touches on ways to make some quick money fast.  If you are looking for creative ways to make money even while on the go, you should definitely check this category out.

While some ideas listed here are things you probably already know, like selling old items on eBay or Craiglist, or getting rid of clothes on Poshmark, there are also some ideas that maybe you never have thought of.

Start A Business

Ever wanted to launch your business but don’t know where to start?  The “Start a Business” category has content that can help you with this.

I would venture to guess that starting a successful online business would be the ultimate dream come true for most people.

If starting a business is in your plans, this section can most certainly give you ideas on how to start and get the creative juices flowing.

Unfortunately, the problem I have is that most of this information that you find here is just what it is….information.

It is information based instead of the real resources that are needed to start your own business.

More on that later.


If you are stuck in your 9 to 5 job and would like to change careers, the Career section is right for you. The section has lots of tips and guides on what career is best for you and how to succeed in your job interview.

You will also find content on writing a good resume, a good cover letter and even how to negotiate your salary. While there are a few careers available in this section, the content can help you land a great career.

Work From Home

This section lists available job vacancies in different companies. You can find job openings such as social media specialist, sales manager, clinical support specialist, and customer service rep.

These jobs are available to residents of the US, but you may come across a few posts for international job seekers.

In certain posts, the candidate has to be multilingual – English and Spanish or French. Before you apply for any of the available job posts, make sure you click on the vacancy and read the requirements.

How to Make Money with the Penny Hoarder Website

Can you really make money with the Penny Hoarder website? Yes, you can make money with The Penny Hoarder. The company offers freelance writing opportunities to freelance writers. To be a contributor, you must have fun and unique ideas. The ideas should be about making money, investing, retirement, budgeting, taxes, and credit scores.

Other acceptable ideas include debt, bank accounts, and insurance. Simply put, the Penny Hoarder is looking for a freelance writer who can share strategies and advice. Interested in contributing to The Penny Hoarder?

This is what the company is looking for in a pitch.

First, they need 700 to 900 words of unique, informative and evergreen content. To get an idea of what the site is looking for, read some of their content. By doing so, you get to learn their writing style and tone of the site. It is important before submitting content to the editor to find out if the topic is already covered or not.

Second, your content should focus on being useful. For instance, if the subject is on money-saving tips, your content should help readers take action. That means writing practical and actionable content.

Third, the Penny Hoarder is looking for unique ideas. These ideas include:

  • Success stories
  • Unique Job ideas
  • Travel, eating and living life on a budget
  • Smart money guides


Under success stories, writers should write content about people who started their own business. They should also write how they found success. For such content, the writer will have to interview the subject and get good photos.

On Smart Money guides, the writer should offer the reader a step by step process to achieve a goal(s). For example, how to save for a family vacation or how to improve your credit score. The smart money guides can be specific to one person or be general.

To make your content compelling, the writer must include links to sources and stats.

Once your pitch gets accepted, the editor will discuss payment. The Penny Hoarder does offer a link to your website in your bio. This is beneficial to affiliates as they can drive traffic to their blogs.

As such, they can convert the readers into leads and make money.

To pitch your idea, follow these instructions:

  • Browse the Penny Hoarder main site
  • Click “Contact Us” (at the bottom of the page)
  • Under Contribute, “Click Here”
  • Fill out the required fields – first name, last name, email address, 3 links to past publications, potential headline, post idea description and about you
  • Submit the form


Note, The Penny Hoarder publishes all posts under the writer’s real name. If the writer has a valid reason for publishing anonymously, the writer must contact the editor. When it comes to payment, writers get paid upon confirmation.

What is the Penny Hoarder Academy?

This is a section of the Penny Hoarder where readers can learn the ins and outs of personal finance. As an online education center, readers can learn how to save, how to build a healthy credit score, and how to invest.

The Penny Hoarder has multiple courses to choose from:

  • Credit Cards 101- offers training on how to use credit cards to build a solid financial foundation
  • Homebuying 101 – offers guidance on how to buy a home and get a mortgage
  • Budgeting 101 – offers guidance on how to budget and avoid impulse buying
  • Job hunting 101 – offers everything on how to land your dream job such as how to succeed in a job interview and negotiating for your salary
  • Credit Scores 101 – offers guidance on how to build and maintain a healthy credit score
  • Groceries 101 – offers training on getting the most out of grocery shopping

What Is The Penny Hoarder Community?

This is a section of the Penny Hoarder where readers can connect with other community members to ask questions, share tips, and receive support on getting a handle on your financial situation.

These are the different sections:

  • Topics
  • Get Started
  • Surveys
  • Budgeting Bootcamp


This section includes a wide range of topics that helps readers to find what they are looking for. Available topics include:

  • General discussion
  • Announcements
  • Save money
  • Budgeting
  • Debt
  • Retirement
  • Investment
  • Home Buying
  • Credit
  • Taxes
  • Insurance
  • Banking
  • Entrepreneurship
  • Think Bank
  • Book Club
  • FAQs

If you want to share new tips on making money online as an affiliate or to budget, join the budgeting discussion.

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Get Started

This section has guidelines which inform readers or online visitors how to join the community. The guideline contains rules that all community members have to abide by. By following the rules, all community members foster a safe and friendly environment.

Some guidelines community members have to abide by include:

  • Always have a respectful and informed conversation
  • Share your knowledge
  • Do not post comments that include personal information
  • Every community member must create one account only
  • All community members must stick to the guidelines
  • No soliciting
  • No discriminatory or hate comments
  • Members must report posts, comments and members not abiding by the rules


the penny hoarder surveys

The survey section is a page for polling. These polls are nothing more than to help provide different views on a particular subject.

For example, members can talk and comment on their perfect idea of what retirement means to them, and provide insight to community members.

Budgeting Bootcamp

This is a discussion group where community members can ask questions, offer advice and discuss budgeting. For instance, a community member can ask how they can save for a vacation to Bali, Seychelles or Mauritius.

Want to join the Penny Hoarder community? Click on “Sign Up”, fill in the following details – email, password, profile name, and zip code. Select your country of residence, upload your avatar, select your financial goal and add a link to your blog.

Agree to the terms of service before submitting the form. If you have a Facebook or gmail account, you can sign in using your details.

Things I Liked

  • It provides useful content that is unique, informative, evergreen, and relevant
  • The content covers different topics from smart money management to investment
  • The Penny Hoarder has a training academy where readers can learn about personal finance
  • Great customer support
  • Has a community/forum where members can discuss a variety of topics
  • Another thing I liked about The Penny Hoarder is that freelance writers can make some extra money by writing content for the site

Things I Didn't Like

  • Although the Penny Hoarder provides an opportunity for freelance writers to make money by writing content, it does not translate into a consistent income
  • While they have content on a wide range of topics, the information throughout the website is more general and information based than technical.
  • Another thing I did not like about the Penny Hoarder, especially if you are wanting to do some freelance writing, is that rejected content written by a writer may appear on the site for everyone to see.

Is The Penny Hoarder A Scam?

I have found that the Penny Hoarder can be a pretty useful site. The content covers a wide range of topics – budgeting, making money online to insurance and investing. Apart from the evergreen and informative content, you have the academy and community forum, which can be a great help to you.

The academy offers training and guidance on personal finance. For the community, members interact and share their experiences and knowledge on a wide range of topics. On top of that, freelance writers can make extra cash by submitting content to the site.

So is Penny Hoarder a scam? It is not a scam. It’s a useful site where online visitors can learn a lot about making money online and learning how to get a grasp on their financial situation.

Final Thoughts

There are many ways to make money online and The Penny Hoarder website has w way you can do that, if you are good at freelance writing.  However, I don’t think it is a way to make a sustainable and long-lasting income.

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