Everything You Should Know About How To Make Your Money Work For You?

how to make your money work for you

How to make your money work for you? It’s a common question among millennials. Idowu Koyenikan once said, ‘The money you make is the symbol of the value you create.’ This quote is very relevant to all of us in the present era. But do you have to earn a lot in order to create value? We don’t think so. Instead, we believe that no matter how much or less you earn, you have to use it in the right way so that you can make your money work for you.

Even I sometimes wondered how to make my money work for me, and when I asked myself this question, I never found a concrete response. That’s why in this article, I will share some tips with you on how to make money work for you. By the end of this article, I promise you will gain some valuable information on making your money work for you, and it may also make you rich in no time.

How To Make Your Money Work For You?

You can’t expect me to give you one-liner solutions on how to make your money work for you. But, remember, it’s a realistic topic and a practical problem that most of us struggle with. Money is one such thing that is never going to be enough for anyone, no matter how much you earn. So, let’s find a few valuable tips on how to make money with money.

1: Invest In The Stock Market

If you think that you don’t have so much capital to start investing in the stock market, you are wrong. If you are a beginner in the stock market, you can start investing as low as $500, or $1,00 for starters. Then, as you earn more money, you can increase your investment amount consequently. 

Investing in the stock market is one of the best strategies how to make your money work for you. You don’t even need to know a lot about the stock market to start investing. Just learn a few areas of the stock market, which are the best ways to invest money, such as;

Exchange-Traded Funds (ETF)

There are many types of investments available on ETF like commodities, stocks, bonds, etc. If you invest in an ETF, you own a certain percentage of its shares, and the ETF holds the rest of the underlying investment. Since it contains multiple assets, it is a popular and safe choice for low-key investors.

Target-Date Funds (TDF)

The best way to make money with money on the stock market will be TDFs. An investment company aims to grow its assets over a certain period, and you can invest here without worrying too much. Moreover, it does not require much effort on your part because the assets will be rebalanced and reinvested as time goes on.


If you want to know how to make your money work for you investing in the stock market with Robo-advisors is a good option. They will choose suitable investment options on your behalf. You have to submit a fraction of your assets, like 0.25%, to manage these advisors. Once you mention your goals, timeline, or risk tolerance, Robo-advisors will start working their magic. 

2: Take Suggestion From A Financial Expert

If you know someone who has done well in managing their finance, you can get a solid idea from them on how to make your money work for you. We are not talking about financial planners. We are just saying to take advice from a financial expert you may or may not know personally because they will give you genuine suggestions.

But, before you set your meeting with this person, jot down the questions you want to ask them. They can certainly guide you on the best ways to invest money. We are sure that you will learn some reliable ways to make money work for you if you just talk to them for an hour.

3: Develop A Strict Budget, And Follow It

This may be the most common suggestion on how to make your money work for you because we have heard it a million times before. But, let’s take it seriously and stick to it this time, shall we? I have met many people who earn a lot but ask for loans from friends by the end of the month.

As much unhealthy as it sounds, many people face the same problem. Just make a budget at the start of the month of your expenses, and stick to it every day. With a budget, you will have a clear idea of where you are spending unnecessary money and where you should cut yourself some slack. If you want to know how to make a budget, follow our tips;

Fixed Costs

  • Mortgage repayments.
  • Rent.
  • Insurance.
  • Childcare cost.
  • Debt repayments.
  • Vehicle registration.

Variable Costs

  • Food and groceries.
  • Utilities like gas and electricity.
  • Vehicle running expenses.
  • Medical expenses.
  • Education expenses.

Discretionary Costs

  • Entertainment.
  • Dining out.
  • Shopping.
  • Personal care.
  • Recreational activities.

4: Clear Your Debts

Making money work for you won’t be possible if you are not done with your previous debts. Although it may be as simple as a credit card loan, something big as a student, or a housing loan, clearing your debts will be the right strategy if you want to know how to make your money work for you. Even if not at once, try clearing it as much as possible in the next month to avoid this burden.

If you pay your debts faster, you will have more money saved in your bank account over a long-term period. Moreover, the longer you stretch a loan, the more interest you will have to pay. Therefore, if you manage to up your monthly installment to a minimum of $100, you can clear your debts much faster.

5: Consider A Passive Income Stream

Your active income stream may not be sufficient when you dream big. That’s why considering a passive income stream is one of the most popular solutions to make your money work for you. Of course, we know that investing in the stock market is also a form of passive income stream, but many more too.

You just need to branch out your knowledge a little to let your money work for you. The passive income stream could be something that you are passionate about. It can also be something realistic like a stock market or real estate. Let’s learn a few passive income sources;


Many websites will offer you freelancing jobs, and you can also decide the price for your service yourself here. For example, you can provide content writing, digital marketing, proofreading, editing, video production, etc. 

Affiliate Marketing

You just have to promote a third party’s product through your social media account. Then, if people buy that product using your link, you will earn a commission. One of the most popular choices for affiliate marketing is Amazon.


You can rent anything for a specific time to trustworthy people if you want to make your money work for you. For example, if there is an extra room in your house, you can rent that. If you have some valuable household items that you don’t need regularly, you can rent those too.


As we are nearing concluding the discussion, we know there may be some more questions stuck on your minds on how to make your money work for you. So, take a look at this section, and see if it helps.

1: How Do I Make An Extra $1000 A Month?

Ans: You can consider freelance writing, data entry services, online coaching, online consulting, and many other types of passive income streams to earn some extra cash every month. You can also consider blogging or opening a youtube channel to make some extra money.

2: How Can I Grow My Money Fast?

Ans: The best way to grow your money fast will be to track your everyday spending crucially. You can also follow the budget that you made at the start of the month. Apart from that finding, some residual income stream is undoubtedly an excellent way to grow your money.

3: How Can I Double My Money In One Day?

Ans: If you want to double your money in a day, you have to start day trading. It involves purchasing some of your financial assets and selling them again. This activity will help you double your money in a short time due to small market movements. There are some genuine apps to help you in this process, so you can also consider the best apps to make money.

Signing Off

We have offered you some concrete suggestions in this article on how to make your money work for you. If you manage to apply even one, or two of these suggestions, you will notice changes in your finance within a month. If you have more questions on this topic, you can post them in the comment box.

Additional Reading:

Mashum Mollah
Mashum Mollah is an entrepreneur by profession and passionate blogger by heart. He is on a mission to help small businesses grow online. He shares his journey, insights, and experiences in this blog.

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *