The Penny Hoarder is full of shit

[G]ood cons are all based on the victim’s need, and the successful con artist is the one, I guess, who can exploit that.
~Alfred Molina

So this morning I ran across a post on The Penny Hoarder. It was supposedly about how to save a thousand bucks in a year.

It was really about how to net The Penny Hoarder some cash via referral links while saving five bucks and doing a lot of bull that won’t net you shit.

If the slimy smile on his face or the Oprah endorsement doesn’t run you off, just glancing at the links he posts should. Just about every one of them is a referral link.

If that’s not skeezy enough for you, this asshole is encouraging people to sign up for new credit cards. He’s making a killing off those, you’d better believe it. And in the meantime, his victims are killing their credit scores and potentially getting themselves (further) into debt.

He says that the “normal” financial advice isn’t grounded in reality and that his method of attempting to use credit card promotions, bullshit online surveys and the rest will get you back on your financial feet. The credit card promotions alone kill this idea, and the online surveys and get-paid-while-you-watch-tv bullshit never works the way it’s implied. The reason why normal financial advice didn’t work is because the Penny Douchebag lacks self-restraint and isn’t grounded in reality himself. If you can’t keep yourself from using the credit card when it’s frozen in a block of ice, don’t blame the methodology. Cancel the card, give it to a (very trusted) loved one for safe-keeping, or some other way of making it unusable.

He’s also a fan of getting people to sign up for programs that monitor your internet or smartphone/tablet usage. Because that sounds like a fucking fantastic idea, especially for a mere $5 a month.

Even if you do find a promotion, survey, or program that works well, they disappear quickly. I used to do mystery shopping for my credit union. Ten to twenty bucks a month for submitting a report on an experience I had with the teller or mortgage advisor. After not quite a year, the program ended in favor of “fill out a survey about your experience and enter to win a giftcard!” I still made fifty to a hundred bucks, but that option is gone for good. I also participate in research studies for the local university’s agriculture department. That’s twenty to forty bucks maybe two or three times a year.

It’s nothing you can make a living off of. It’s beer money, and that’s all it will ever be to most people. If it was otherwise, The Penny Hoarder would be making more money doing that than posting referral link filled posts to a bullshit blog. And exactly what it is…a few feel-good stories about people finding some niche job they love and making money at it, outnumbered by referral links and crappy financial advice.

Getting out of a shitty financial situation takes dedication, time, and hard fucking work. Those feel-good stories are in the minority. Disregard them. They’re not going to help you.


15 Responses to “The Penny Hoarder is full of shit”

  1. Hypermamma Says:

    Thanks for the good insight about penny It is possible to convey your points without cursing.


    • Brian Says:

      I’d like to quote my favorite comedian Eddie Izzard hypermama when I say “fuck ooooooooooooff”

  2. I didn’t see the particular blurb you wrote about, but one on surveys, mystery shopper, grocery shopping, etc. I am a fan of Receipt Hog that he mentions.

  3. Dolkar Wise Says:

    You aren’t far off, instead of beer money though it pays for the cell phone bills and extra data/app money for my family of 6, 3 of them teen girls. Instead of clicking their referrals I just googled the titles and tried out every program that was free and required nothing much from me.

  4. General George Patton on cursing:

    An army without profanity couldn’t fight its way out of a piss-soaked paper bag.

    When I want my men to remember something important, to really make it stick, I give it to them double dirty.

    (My personal favorite) Sometimes I just, By God, get carried away with my own eloquence.

  5. What cursing?

  6. MythT Says:

    I couldn’t agree with you more. The PennyHoarder website is a site that has very few legitimate ideas for very small income making possibilities mixed with many serious scam links and tons of bad financial advice. Mixing in some legitimate money making ideas is ‘s how they try to get people to believe the other crap. The legit stuff is, just like you said, short lived. I wish people would go through life repeating one of my favorite quotes: “If you play with snakes, eventually you’re going to get bit.”

  7. Hey, thanks for taking the time and giving feedback on The Penny Hoarder site. I just came across it and did get excited because I only have enough money to pay my rent and get food and not anything more. So, the concept of earning a bit extra to put car fuel in my old van now and then is appealing.

    However, I’m poor, but not stupid. When something is too good to be true, there’s got to be a catch. Connecting with ANY site via internet has opened each of us to be vulnerable more than we realize. Before I clicked on anything on that site, I decided to do a search to learn if that site is just a hoax.

    Reading your post put things back into perspective and gave me a quick reality check. Even people who make comments attesting how great a site is create doubt because often, they’re people who work for the creator and are manipulating the reader.

    I’m grateful for feedback….and still a bit curious if any on-line sites truly offer monies for one’s time WITHOUT malware or inadvertently giving up your contacts or some unknown means of manipulation.

  8. plum scarlet Says:

    Thanks for the bold review.

  9. I fucking knew it was too good to be true! I had to do some research after the penny hoarder suggested a survey website that I know for fact is a scam and also when I clicked on a link he provided it had sent me to this random ass website that had no correlation to what it was supposed to be. Alas! Playing on your phone won’t pay your bills!

  10. Donna Perez Says:

    Thank you it is comforting to know that there are good people whom care and are willing to expose the trash. I just wanted you to know I appreciate your work.

  11. countrycheer Says:

    I subscribe to The Penny Hoarder and he has helped me in many ways. He has introduced me to some very Lucrative sites. Such as InBoxDollars, Certified Field Associates, and Amazon’s Mechanical Turk. I stay at home taking care of my mother 24/7 and need extra cash. These are great ways to do just that. If I could help him get referred by applying to these sites so be it. He’s the one who found them. They have helped me out a lot. I never do anything with the credit card programs or online banking. But he did suggest Loyal3 a company where you can purchase stock for $10 on up. I have a few investments there. There is no fee to join. Or to take out your money.

  12. Amy K Says:

    Thank You less carp I have to fish threw to make 5$ so not worth it. And yes sometimes s Little curse helps get point across…..

  13. Janet Wunder Says:

    Thank you. I just tried taking surveys. They propose to give you cash or a tangible gift. All they gave was more surveys. I suppose that the Tide Pods they offered was possible to receive after weeks of endless surveys. I’m not answering weeks of surveys to find out. I already lost hours of my life, never to get back.

  14. Janet Wunder Says:

    Thank you. I just spent hours trying to get a sample. All I received were more questionnaires. I lost HOURS of my life, never to be returned.

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