Methodology
This page is intended as both an external resource for our readers as well as an internal resource for our content team to refer to.
Our Commitment to Objectivity
First and foremost, our content must be objective, and any subjective statements must be qualified as such.
Here are some guidelines to follow in order to create truly objective financial content:
Review Articles
1. You are expected to have deep familiarity with the Google Product Reviews Update and to ask yourself all the questions laid out by Google as you create your review content.
2. Reviews must be accurate and factual. The factor ratings and review stars we award a particular company, product, or service must be consistent with these methodology guidelines.
3. Reviews must not exist merely to entice the user to click on our affiliate link. Err on the side of being too critical in our reviews rather than too positive or even neutral. You should be asking yourself as you create content, “Does this sentence or paragraph I just wrote frame the thing I’m reviewing in too positive a light?”
4. Reviews must not be mere summaries of the thing reviewed’s features, benefits, fees, etc. What makes a review a review is you not only describing the features, benefits, fees, etc. but also assessing them, critiquing them, praising them, etc. as the case may be based on your expert opinion. If your “review” is little more than a description of what you’re reviewing, then it’s not a review at all. In fact, Google has explicitly stated that “pages with product affiliate links on which the product descriptions and reviews are copied directly from the original merchant without any original content or added value” is an example of “thin” affiliate content. If your “review” is mostly a mere product summary of the thing you are reviewing, your piece will be sent back to you for a complete rewrite. This kind of content can be hired out for much cheaper rates than you are being paid.
5. The tone of a review should reflect the quality of the company, product, or service being reviewed. If for example after objectively reviewing an insurance product you determine its quality to be sub-par, don’t say, “If you need car insurance in a bind, ABC Insurance Company can help.” This tone is positive and is not consistent with your review. However, a positive — but not salesy — tone is acceptable if you objectively determine the quality of a company, product, or service to be excellent.
6. If you are reviewing a low-quality company, product, or service, present quality alternatives to the reader that he or she may find more beneficial in addition to the comparison table that should be present in all review articles. These alternatives may or may not be Money Done Right partners.
7. There should be a summary card at the top of each review detailing “Basics”, “Pros”, “Cons”, six rating factors (see below on this page for rating factors by review vertical), and four features.
8. There should be a features table included somewhere in the article describing the features (as well as lack of features) of the particular thing being reviewed.
9. There should be a “pros” and “cons” summary boxes near the end of each review article. Nothing in these boxes should be new but should rather be a mere summary of information already stated in the piece.
10. There should also be a section in the review detailing two or three types of people or situations in which the thing reviewed would be a good fit as well as a section detailing two or three types of people or situations in which the thing reviewed wouldn’t be a good fit.
11. There should also be a comparison table at the bottom of the review that compares features of the thing being reviewed (in the first column) with three competitors (in the second, third, and fourth columns).
12. Keep in mind that a company’s, product’s, or service’s website is essentially a sales page. Again, simply summarizing the information found on a company’s website without any original analysis is not a review!
13. Take into account patterns you see in user reviews on third-party review websites, but keep in mind that user reviews are easily faked or exaggerated. However, if you see a consistent pattern of genuine-appearing user reviews stating, for example, that the company has repeatedly refused to honor its refund policy, this should be mentioned in the article, and the relevant factor rating should be adjusted accordingly.
14. Reviewers are generally required to use the product or service they are reviewing themselves, recording themselves (and their screen, if applicable) while using it. If it’s impossible for you to actually test the thing you are reviewing yourself, you will naturally have to consider reviews on third-party review websites more heavily. In this case, please make a table of negative reviews like the one in this review under the heading “Community Tax BBB Reviews” with three columns: one for the name of the reviewer and date of the review, one for the issue the reviewer had, and one for your expert take on what happened here and who is at fault (if anyone). Since reviews could be fake or misrepresent the facts, be sure to qualify any references to third-party reviews. For example, don’t say that what the negative reviewer said happened actually happened; say that the reviewer claimed it happened. Also use phrases like, “Assuming [reviewer’s name’s] claim is true…”. Although there are significant questions about the BBB’s level of objectivity, the Google Quality Raters Guidelines used to say, “Please consider very low ratings on the BBB site to be evidence for a negative reputation.” Although this statement was removed from the latest version of the Google Quality Raters Guidelines, use BBB reviews (if possible) since it is my belief that Google may still regard third-party reviews on the BBB site as a “step above” than third-party reviews on other sites.
15. You are expected to include screenshots in your reviews to *show* the reader what you’re telling them.
“Best” Articles
1. In articles where we are claiming that certain companies, products, or services are the “best” of their type — for example, the Best Cash Back Cards — we should make clear that in most areas of personal finance “best” is subjective and the “best” company, product, or service for the reader may not be the “best” one for you as the writer. We should also give categories of avatars for which a certain company, product, or service is the “best.” See for example our list of the Best Cash Back Cards. In this list, we include the Capital One QuicksilverOne, even though it offers only 1.5% cash back and comes with a $39 annual fee. The Citi Double Cash gives 2% cash back and no annual fee. The Citi Double Cash is clearly a “better” card when it comes to rewards and cost, but it’s not accessible to those with anything less than good or excellent credit. So to offer something to readers with average, fair, or limited credit, we included the Capital One QuicksilverOne because we believe that it is objectively the best cash back credit card for those in this demographic, and we label it as such.
2. Even if we don’t have an affiliate relationship with a particular company, product, or service, you should not shy away from including it in “best” articles. For example, we include both the PayPal Cashback Mastercard and the Fidelity Rewards Visa Signature in our list of the best 2% cash back cards even though we do not have an affiliate relationship with these issuers.
In General
1. Go into detail and be extremely helpful to the average reader. Provide a substantial, complete, and comprehensive description of the topic. Provide insightful analysis or interesting information that is beyond obvious and beyond anything that any other site has created about the topic.
2. Our content must answer all of the average reader’s questions pertaining to the subject matter. Ideally, answers to questions will be worked into the main body of your piece, but any other questions you weren’t able to answer in the main body of the piece should be included in an “FAQ” section at the very end.
3. Use headers, especially H2s and H3s, liberally. Each H2 should have at least two H3s underneath it unless we don’t use H3s at all in the piece as is common in list articles such as this one. Remember, not every reader will read every single word in a given piece. Give “skimmers” like this an organized, logical header structure so that they can easily understand the flow of the piece without having to read every single word.
4. Remember, personal finance is inherently mathematical. You must use accurate, mathematical examples to explain and reinforce key concepts.
5. Source facts, statistics, or other data points to authoritative websites, not other blogs.
Rating Factors by Type
In each of our review articles, we assign the product, service, or company being reviewed six factors on which it is rated on a 0 – 10 scale.
Budgeting Tools
In the budgeting tools category are any software or apps that people can use to budget and track their personal finances.
These products typically link users’ bank, investment, loan, and other financial accounts into an interface where all the transactions and balances are tracked.
| Cost | How much does this software or app cost compared to its competitors? Would a user in this product's target demographic look at the price point(s) and think, "Wow, that's a great value for what you get!" Only free software or apps merit a 10/10. |
| User Experience | Is it easy to get set up and add accounts? Is the data display attractive and easy-to-read? Is the interface helpfully interactive? |
| Budgeting Tools | How well does this software or app help someone budget? This factor goes beyond the mere recording of historical transactions and is concerned more with how well this product helps someone plan and forecast. |
| Investment Tracking | While budgeting tools have to do with one's personal profit and loss statement, investment tracking has to do with tracking one's personal balance sheet. How well does this product integrate and visualize one's investment accounts? Can one see one's balance over time? Can the product break down one's asset allocation by class? Can it break down one's stock portfolio by industry? |
| Account Syncing | How frequently does the product have issues with syncing certain bank or other accounts? Read user reviews to determine if there is any frustration regarding syncing. |
| Customer Support | What kind of support options are available to users? Is there an in-app support function? Is there a phone number on the website people can call? Note that merely having support options is a baseline; you must also read reviews of the product (start with the app store if the product is or has an app) to see if customers are getting their questions answered or if they're complaining about a lack of support. Is the company using Facebook messages and Twitter for support as well? If you can't find enough data points, consider submitting a support ticket yourself in order to evaluate the support function. |
Cash-Back Portals
Cash-back portals such as Rakuten are platforms that users can shop through to earn cash back on their purchase.
| Legitimacy | Based on your personal experience with the platform (preferable) or user reviews, does this cash back portal actually provide cash back to users and pay out as promised? |
| Store Selection | Compared to other cash back portals, how many popular stores can users get cash back at through the platform? |
| Cash Back Rates | Compared to other cash back portals, how are the cash back rates on this platform? |
| Payment Options | How many payment options are available to users? Most people like to cash out via PayPal, so is that an option? Are there bonuses if you cash out in certain ways? Can users cash out at any time? Or is there a minimum threshold required before cashing out? Or are payments made on a rigid monthly or quarterly basis? |
| Ease of Use | Is the cash back portal easy to use? Or does it have a confusing design or interface? Is it simple and easy to understand? The best thing to do is actually use the portal yourself, but if for some reason this is not possible, read user reviews online. |
| Customer Support | What kind of support options are available to users? Is there a support function? Is there a phone number on the website people can call? Also read reviews of the app within the app store and online to see if customers are getting their questions answered or if they're complaining about a lack of support. |
Credit Cards
Credit cards are any cards that allow the holder to purchase goods and services on credit.
| Rewards | As a percentage of spend, how much does this card give back in rewards? "Best in class" cards -- that is, cards that have the highest rewards percentage for a particular spending category -- merit a 10/10. A card with no rewards on spending would merit a 0/10. A card that gives a mere 1% back on everything would merit a 3/10. A card that gives 1.5% back on everything would merit a 5/10. |
| Other Perks | Beyond the rewards on spend, how do the perks on this card compare to the perks on other cards? Use the American Express Platinum as a 10/10 standard and evaluate other cards based on that. |
| Annual Fee | If a card has both an annual fee and a monthly fee, add the annual fee to the monthly fee multiplied by twelve to determine what the annual fee is for purposes of these ratings. $0: 10/10; $1-$49: 9/10; $50-$99: 8/10; $100-$149: 7/10; $150-$199: 6/10; $200-$299: 5/10; $300-$399: 4/10; $400-$499: 3/10; $500-$599: 2/10; $600-$699: 1/10; $700+: 0/10 |
| Welcome Offer | How much is the sign-up bonus for this card compared to the sign-up bonuses on other cards? |
| Ease of Approval | How likely is it that someone even without the best credit score or income would be approved for this card? A card that approves anyone without a credit check would merit a 10/10. |
| Intro APR | How long is the card's introductory 0% APR balance transfer offer? No offer: 0/0; 1-3 months: 1/10; 4-5 months: 2/10; 6-8 months: 3/10; 9-10 months: 4/10; 11-12 months: 5/10; 13-14 months: 6/10; 15-16 months: 7/10; 17-18 months: 8/10; 19-20 months: 9/10: 21+ months: 10/10 |
Health Insurance Companies
Health insurance companies are businesses that collect premiums from and pays (in whole or in part) the medical expenses of policyholders.
| Coverage Options | How easy would it be for someone to find the exact coverage that suits them? A one-size-fits-all plan would receive a lower rating, while those with multiple plans catering to different needs would receive a high rating. |
| Network Size | How large is this insurer's network of providers? Please do not count it against a company if plans are only available in certain states; for example, if a health insurance provider is only available in seven states, evaluate the depth of the network in those seven states only. |
| Quality of Care | Based on user reviews, how satisfied are individuals with the care they receive at in-network providers? Be sure to look at opinions on both routine and preventative care as well as more intensive medical procedures. |
| Cost | For the plans provided by this insurer, how do the premiums and deductibles compare to comparable plans provided by other insurers? What other fees or costs are charged or potentially charged to members? |
| Application Process | How easy is it to to apply for and obtain insurance through this provider? What if you have pre-existing conditions? |
| Member Services | What kind of support options and services are available to members? Is there an app or member portal where members can communicate with their healthcare professionals, download their medical records, make appointments, etc.? Is there a dedicated support line for members to call with questions? |
Investment Platforms
This category consists of online platforms on which users can make investments. These include not only traditional e-brokerages such as Vanguard and Fidelity but also app-centric stock investing platforms such as Robinhood and alternative investment platforms such as Fundrise and AcreTrader.
| User Experience | How easy and self-explanatory is it to perform basic investment functions such as funding one's account and purchasing investments? Is the platform's interface user friendly and easy to navigate or is it clunky and confusing? |
| Fees | How do the fees for this platform compare to fees on similar platforms? "Fees" encompass everything from trading commissions on a stock purchase to management fees on assets under management. |
| Investment Options | Evaluate the universe of investment options available in the platform for its intended audience / specialization. So if a platform only, say, offers real estate investments, it should not be penalized for not offering stock investments. Instead, it should be evaluated based on the range of real estate investments it offers on the platform: Is there a variety of project types (buy-and-hold, development, debt financing, etc.)? Are investments in different property types (multifamily, commercial, single-family, raw land, etc.) offered on the platform? Etc. |
| Research Tools | Assess the breadth and quality of the research tools available on the platform. Are there stock / fund screeners? Industry reports? Up-to-the-minute news access? |
| Account Options | This rating is based on the account types available on the platform. Are only standard taxable accounts offered? Or are tax-advantaged accounts such as IRAs and Solo 401(k) plans offered as well? What about custodial accounts? 529 plans? |
| Customer Support | What kind of support options are available to users? Is there an in-app support function? Is there a phone number on the website people can call? Note that merely having support options is a baseline; you must also read reviews of the product (start with the app store if the product is or has an app) to see if customers are getting their questions answered or if they're complaining about a lack of support. Is the company using Facebook messages and Twitter for support as well? If you can't find enough data points, consider submitting a support ticket yourself in order to evaluate the support function. |
Money-Making Apps
In the money-making apps category are any apps that allow people to make extra cash for using the app.
Side hustles — money-making activities that one could theoretically spend eight or more hours per day doing — are not considered money-making apps, even if there is an app involved, such as is the case with driving for Uber or Lyft.
| Legitimacy | Based on your personal experience with the app (preferable) or user reviews, does this app actually reward and pay users as promised? |
| Earnings Potential | Obviously this will depend on how much a user uses the app, but how much could the average user expect to earn over time using this app? No one should download an app expecting to earn a full-time income, so the potential to realistically earn a few hundred dollars a month would be enough to merit a 10/10. The potential to only make a few pennies per month would be 0/10. |
| Time Required | How much time is actually required to be in the app to earn money? An app that simply runs in the background while users earn would be a 10/10, while an app that requires the user to be in the app constantly would be a 0/10. |
| Fees | Does this app come with a fee? A completely fee app would score a 10/10. |
| Ease of Use | Is this app easy to use? Or does it have a confusing design or interface? Is it simple and easy to understand? Read user reviews in the app store and see what people are saying. |
| Customer Support | What kind of support options are available to app users? Is there an in-app support function? Is there a phone number on the website people can call? Also read reviews of the app within the app store and online to see if customers are getting their questions answered or if they're complaining about a lack of support. |
Paid Online Surveys
Paid online surveys are platforms that give users cash or rewards for taking surveys.
| Survey Quality | Are the surveys well-designed? Are they easy to qualify for? If during testing you rarely qualified for a survey, rate this factor low. If you qualified for the majority of surveys, rate this factor high. Also take into account how well-designed the surveys are. |
| Redemption Options | If the survey site has mass-appeal redemption options such as PayPal cash out, Amazon gift cards, Walmart gift cards, Target gift cards, etc., rate this factor highly. If its redemption options are limited in appeal — such as if the survey site only lets you redeem points for gift cards to little-known retailers — rate this factor low. |
| Redemption Ease | How easy is it to redeem points or cash out for mass-appeal redemption options with this survey site? The driving factor here is the redemption minimum. If the survey site has low redemption minimums (say, less than $2) for mass-appeal redemption options, rate this factor highly. The higher the redemption minimum for mass-appeal redemption options, the lower this factor. This should be objective based on the universe of survey sites we test. |
| Earnings | How much did you make per hour while taking surveys as compared to other survey sites. The survey site we test that has the highest hourly rate would be 10, and the lowest would be a 0.5. |
| Privacy | If the company spams users or appears to give their email address away to third parties who then spam users, give this factor a low rating. |
| User Interface | How attractive is the user interface? Is it easy to navigate? Attractive? |
The features ribbon should included the following items:
- Payout Options: Indicate how users can be paid out on the site.
- Our Earnings: This is how much we made on the site when testing it e.g. “$6.30 in one hour”
- Mobile App: Indicate whether this platform has a mobile app where users can take surveys e.g. “Yes, Android and iOS”
- Sign-Up Bonus: Indicate the signup bonus amount e.g. “$5 sign-up bonus”
Personal Loans
In the personal loans category are both direct lenders and loan lead generation sites.
Below are our rating factors for personal loans.
| APR | How does this lender's rates compare to other lender's? If a lead generation site, how do the rates offered by this site's lender network compare to others? For example, a payday loan lender or site generating leads for payday loan lenders would rate low in this category, while a lender or site offering personal loans would tend to rate higher. |
| Fees | This would include all fees other than interest charged to the borrower: origination fees, application fees, late fees, etc. A lender that has no fees would rate a 10; a lender that charges exorbitant fees would rate a 0. |
| Transparency | How apparent is it who is really behind this company? Is this company straightforward about its fee structure and payment terms, or does it employ bait-and-switch tactics? Is the company's name and contact information available on the website? |
| Flexibility | How flexible is the lender when it comes to payment terms? How do they work with those in financial distress? Are there deferment options available? |
| Funding Speed | How quickly could a customer reasonably expect to receive funding after being approved? |
| Accessibility | Keeping in mind the lender's target demographic, how easy is it to apply and be approved? Are there geographical limitations? Do borrowers need an SSN or certain credit score? |
Planning Software or Apps
In the planning software or apps category are any software or apps that people can use to formulate financial or legal plans.
| Cost | How much does this software or app cost compared to its competitors? Would a user in this product's target demographic look at the price point(s) and think, "Wow, that's a great value for what you get!" or, "Sheesh, that's pretty steep. I might as well go to a professional for my planning." |
| User Experience | How seamless is the user experience when actually going through the planning process? Is the interface designed in such a way that the user always knows what to do next? Or is using the app a confusing experience? One of the supposed benefits of using a planning software or app is that it is more efficient than scheduling time with a professional, so efficiency should definitely be considered as well. |
| Situations Covered | Does the software or app only cover the most basic of financial or legal situations? Or does it cover a wide range of situations and circumstances? For those with unique circumstances or goals, does the software or app give the option to customize their plan to their liking? |
| Accuracy | When compared to receiving personalized advice from a qualified professional -- be that an attorney for estate planning, a CPA for tax advice, a CFP for financial planning, etc. -- how accurate are the planning options provided by the software or app? |
| Tools and Resources | Beyond the basic function / value proposition of the software or app, does it also provide other tools and resources for users to utilize on an ongoing basis? Or does the software or app provide a "one and done" service? |
| Customer Support | What kind of support options are available to app users? Is there an in-app support function? Is there a phone number on the website people can call? Note that merely having support options is a baseline; you must also read reviews of the app within the app store and online to see if customers are getting their questions answered or if they're complaining about a lack of support. |
Savings Accounts
Savings accounts are interest-bearing deposit accounts at financial institutions that do not offer a checking function.
| APY | How does the interest rate on the account compare with other savings accounts on the market today? |
| Fees | How do this account's fees compare to those of other savings accounts on the market today? |
| Security | How secure is account holders' money at this institution? How does the mobile banking security measure up? Is the account FDIC-insured? |
| Features | Assess the breadth and quality of the account's features such as direct deposit, mobile banking, bill pay, etc. |
| Physical Coverage | How large is this institutions's network of physical branches for those who prefer or require an in-person banking experience. |
| Customer Support | What kind of support options are available to users? Is there an in-app support function? Is there a phone number on the website people can call? Note that merely having support options is a baseline; you must also read reviews of the product (start with the app store if the product is or has an app) to see if customers are getting their questions answered or if they're complaining about a lack of support. Is the company using Facebook messages and Twitter for support as well? If you can't find enough data points, consider submitting a support ticket yourself in order to evaluate the support function. |
Tax Relief Companies
Tax relief companies are tax firms that specialize in helping people who owe significant amounts of money to the IRS and/or state tax authorities.
| Honesty | How honest and straightforward is the company, especially with respect to its sales practices? Do many users complain that the tax relief company engaged in a "bait and switch" in the sales process — telling them that they qualify for an offer in compromise when all the company was able to do for them was set up an installment agreement? Is there anything on the company's website that would imply the company is willing to bend the truth (e.g. testimonials that appear to be fake)? |
| Responsiveness | Do customers praise the company for how quickly it resolved their tax issue? Or complain about a general lack of responsiveness or lack of action? Note that very often a perceived lack of responsiveness is actually the IRS's or state tax authority's "fault" since tax resolution paperwork can take a long time to process. Be sure to discern between the company failing to meet its obligation to the customer and the IRS or state tax authority being slow to process the company's submission. |
| Price | How expensive is this company's services compared to other tax relief companies? |
| Accessibility | Does this company only service one area or state? If a company is nationwide, give 10/10. |
| Guarantee | Does this company offer a guarantee and if so what are customers saying about how well the company honors it? |
| Transparency | How transparent is the company about itself on the website? Does it disclose information about the process that customers can expect? Is it clear who owns the company or manages it? Are there tax experts listed on the company website? |