With the cost of living continuing to rise and with many salaries not increasing, a lot of people are looking for ways to make money on the side to help supplement their main income and cover all their expenses.
People usually turn to the internet for help when it comes to finding opportunities to make money online. Now the internet will usually provide you with a lot of sites that offer opportunities to make money online.
You will also find a lot of websites that will provide you with articles and tips on the kinds of money making opportunities that you can do to provide the side income you are looking for.
Usually, these types of sites only provide you with a list of money-making websites that you can try out to help you make money online.
But what if I tell you that there is actually one site that, not only provides tips and articles about making money but also provide an opportunity to actually earn money.
That site is called The Penny Hoarder. It is a site that offers tips and guides about personal finance, particularly about making money.
The beauty of the site is that it also provides an opportunity for you to make money on their site by becoming one of their contributors.
The site will pay you in cash for each article you’ve written that the site accepts and publishes. It’s really hard to determine how much money you can make with the site.
This is because there’s no guarantee the article that you write will always be accepted, as the site has strict editorial rules and guidelines.
But is The Penny Hoarder really a legit site that offers an opportunity to earn or is it all a scam?
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The Penny Hoarder is a Legit Website
The Penny Hoarder is a personal finance website that offers articles, guides, tips, and information that helps you earn and save money.
The site basically provides information about the latest job opportunities, both online and offline that you can apply for to earn more money.
The beauty about this site is that they also provide an opportunity for you to make money by becoming one of their contributors.
You just need to write a compelling article about the topics that the site talks about and follow the editorial guidelines they have. If your article is accepted and published, the site will pay you.
From what I’ve seen so far, I can say that The Penny Hoarder is a legitimate website. The site is really more of an information resource website than an actual money-making website.
They only have one opportunity to make money, which is to be a contributor. The site does pay, but only if the article you submit gets accepted and published.
I’ll be discussing this in more detail, as we progress further with this review.
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Who is The Penny Hoarder Made For?
The Penny Hoarder is actually designed for two types of people, with one being people like you who are looking for information to make extra money.
The other type is businesses and organizations in the personal finance industry that are looking to advertise their offerings on the website. The Penny Hoarder provides them with an opportunity to engage with millions of readers that the site has.
The site boasts 13 million readers per month and 2 million email subscribers, which organizations can access when they put up an ad on the site.
For people like you, The Penny Hoarder provides you with a lot of articles, tips, and guides that can help you save and earn money.
The site also provides an opportunity to make money by being one of their contributors. You just need to write a compelling article that the site will accept and publish to get paid.
In the next section, I’ll be discussing in more detail about the kind of article the site is looking for and the guidelines that they have.
How Do You Make Money with The Penny Hoarder?
The Penny Hoarder is not really a money-making website, as they are more of an information resource website. What you will find on the site will be articles that center on tips, guides, and lists about life and personal finance.
You can see articles about smart money, about parenting, wellness, food deals, and so on. They do have a tab about making money, but this too will center on tips, guides, and lists.
It mostly mentions the different jobs, careers, or side incomes you can try. The site does provide one opportunity for you to possibly make money with them and that is by becoming a contributor.
The site is always looking for people to contribute new articles for them to upload on the site and they are willing to pay for it. The Penny Hoarder will pay per article that they accept and upload.
Now, this is not like some job where the site will hire you and you will need to write regularly for them. You can write whenever you want and submit whenever you want.
However, you have to take note that just because you pitched an idea and made a submission, the site will automatically pay you. They have a set of rules and guidelines that you need to follow to get your work accepted.
The article needs to be at least 700 to 900 words long and original. This means that the topic is something they have yet to write about. It should also follow the tone of the articles on the site.
The usual posts the site is looking for are success stories, unique job ideas, smart money guides, eating traveling and life on a budget etc
If your pitch gets accepted, an editor from the site will contact you and negotiate for its payment. Though the site did not disclose how much they usually pay, people who tried it said the site pays well.
It seems the payment is not fixed and is dependent on the topic and length of the article. It is important to remember that everything will need to be in some form of writing first.
The Penny Hoarder will only pay you if they say in writing that they want to move forward with your pitch and they agree to pay a certain rate for it or link the article to your website.
Without the details in writing, you will not get paid anything even if you made a submission. So you need to get an agreement from the site first to go through with your idea before you write about it.
If you are interested, just go to the ‘Contact Us’ page on their website and go to the ‘Contribute’ button. There, you can pitch the topic that you are planning to write about.
You just need to provide your full name, email address, the potential headline of the topic and a short description of the idea.
You also need to provide a short description of yourself and 3 links to your past digital publications. If they like your pitch, an editor will contact you to discuss it further.
The posts will only be published under your real name, as The Penny Hoarder doesn’t usually allow pseudonyms. You can tell the editor ahead of time if there’s a valid reason for your work to be published anonymously.
What I Liked about The Penny Hoarder
Now that we know what The Penny Hoarder is and what it is offering, it’s time to discuss what I liked about it.
- The first thing that I liked about The Penny Hoarder is that they provide a lot of good articles and information about money management and making money. Take the time to tour the website and you will see a lot of informative and useful articles
- Another thing I liked about The Penny Hoarder is that they do provide an opportunity to make money on the site. They provide an opportunity for you to be a contributor to the site to earn money. You just need to make a pitch for a topic and if they like it an editor will contact you to discuss it in more detail, as well as the payment for it.
What I Don’t Like about The Penny Hoarder
Of course, there are also things that I didn’t like about the opportunity that The Penny Hoarder provides, which I’ll discuss here.
- The first thing that I didn’t like about The Penny Hoarder is you cannot really rely on the website to earn consistent income. Considering that submitting a pitch won’t guarantee earnings, you can’t really rely on the site to provide you with regular and consistent income. You might be lucky and the site accepts several of your pitches in a month, but you could also be unlucky and none of them are accepted.
- Another thing that I didn’t like is that The Penny Hoarder site mentioned that if your submitted pitch is turned down but you still see an article with the same topic come out a few days later, it is just purely coincidental. The site says that your submitted topic could very well be already in the pipeline of topics that someone else is writing about so it’s not an original idea. I don’t like this one bit because there’s really no way for you to know if the topic you are going to pitch is already being worked on, so your pitch ends up as a waste of your time.
Do I Recommend The Penny Hoarder?
After learning more about The Penny Hoarder and what they bring to the table, I can say that it is a website that I definitely recommend.
I recommend this site as something that you could visit once in a while to expand your knowledge about money management and personal finance.
As an opportunity to make money, though, I don’t really see this as a viable option, especially if you are looking for a more consistent earning opportunity.
Yes, the site can teach you a lot about making money, but the opportunity they provide to make money is not really something that I consider worthwhile.
You could use this site for information, but as for making money, there are a lot of better opportunities out there.