10 Smartest Tips on How to Make Money Work for You [Save & Invest]

Do you control your money, or does it control you? Money is a tool we can use to make our life much easier. In this article, let’s discuss ideas on how to make money work for you. 

You work hard for your money, so money should also work hard for you. 

Managing your finances well can bring you a stress-free and comfortable life. However, it comes with a price in terms of redefining your relationship with money and developing healthy habits to create wealth. 

10 Ways to Make Money Work for You

We have already understood what “making money work for you” means, but how? 

Here are the 10 best ways of making money work for you.

1. Budgeting

Budgeting is the way of spending money that allows you to buy most resources from a limited amount of cash. Budgeting is not only a smart way of spending but also a need. 

Here is how you can make a budget to get the best out of your salary using the popular budgeting methods:

  • Follow the 50/30/20 budgeting rule. Divide your budget into 3 categories: must-haves, savings, and wants. Spend 50% of your salary on must-haves, 20% on savings, and 30% on the luxuries you want to buy. 
  • Make a list of your expenses, such as rent, mortgage, personal expenses, etc. Write the amount of your salary they require, and subtract each expense from the total monthly salary. The result must be equal to 0. If not, you are spending more than you make, and you need to make some adjustments. 
  • Divide your expenses into categories. For each category, make an envelope and fill it with an adequate amount of cash. This method is known as envelope budgeting.
  • People with fluctuating salaries can make their monthly budget by dividing their yearly income by 12. Follow the same practice for variable expenses. 

2. Engaging in Online Jobs and Side Hustles

Online jobs have become one of the best side hustles in recent times. They give an extra boost to your monthly salary without asking for much time. 

We have listed some of the best jobs you can do to make extra money:

  • Work as an online proofreader. Even if you don’t have any experience, there are different courses you can follow, such as Proofread Anywhere, to prepare you for the best remote proofreading jobs
  • Be an online transcriptionist. If you are good at grammar and can pay keen attention to details, you can work as a transcriptionist on sites such as GoTranscript. Check out these Transcribe Anywhere courses for beginner or experienced transcriptionists. For starters, here’s a transcription guide
  • Become an online tutor. Online tutoring allows you to choose your preferred time, subjects, and students. If you are into group teaching, there’s Magic Ears, mainly catering to Chinese pupils who want to learn English. Aside from general job listings, the popular job platform FlexJobs also has many clients looking for tutors. Check our list of the best online tutoring jobs to try now! 
  • Start blogging. Check this guide on how to start a blog and head on to this reliable web host, Bluehost, that provides various feature-packed web hosting options to help you build your website without a sweat.
  • Get a data entry job. You can earn cash from your home. Basic requirements include typing skills, attention to detail, and computer and internet connection. Here are some data entry job tips to make it successful.
  • Work as a Virtual Assistant. Working from home with flexible hours, you can do your tasks as virtual support for the company’s full-time staff. The work could range from routine office stuff like answering emails to managing the boss’ schedule. 
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3. Investing

Investing is a tip that many millionaires will give you. It is one of the most prolific ways of increasing your overall wealth. 

Choose the best investments where you can put your money to make it work for you.

  • High-yield saving accounts
  • Stocks – plenty of platforms provide you with free stocks to get started quickly and easily.
  • Real Estate
  • Government bond funds
  • S&P 500 index funds
  • Credit card rewards
  • Corporate bond funds
  • Rental housing 
  • Cryptocurrency – a number of companies will give you free cryptocurrency when you sign up with their platform. It’s a great way to start investing in cryptocurrencies without any risk.
  • NFT (Non-Fungible token)

4. Managing Debt

Managing debt can help make your money work for you. 

There are many ways that you can repay your debt in less time without having adverse effects on your salary. The best of all is a debt management plan. 

A debt management plan allows you to cover all your expenses within a certain period by paying a fixed amount at the end of each month. In this plan, the consumer counseling agency plays a key role in setting up a budget for your unsecured debt payments, such as personal loans. 

They will make payments easy for you and negotiate with the creditors to decrease the interest in debts.

5. Goal-Setting

Goal setting is the place where you begin your journey. 

Here are some goal-setting rules for your consideration: 

  • Make your passion your profession.
  • Set realistic and achievable goals.
  • Break down the end goal into small tasks leading up to the finishing line.
  • Analyze your performance after the completion of every task.

If your goals are not properly defined, there is a big gap for you to fill. Check out these financial goal-setting steps to ensure you set the right goals. 

6. Saving

What if you need money now to cover an unforeseen medical expense? Or what if you lose your job and require an emergency fund to cover expenses? Don’t worry; we have a couple of ways to get you to start saving efficiently: 

  •  The 52-Week Money Saving Challenges. This simple 52-week money-saving challenge can help you save money as you set aside a preset amount of money for 52 weeks. At the end of that period, you’ll have saved your target amount of cash. 
  • The 30 Days Saving Rule. This 30-day saving rule is simple: you need to stop yourself from impulse buying for the next 30 days. The main aim is to buy only essential stuff and refrain from buying any non-essential items. 

7. Smart Spending

Smart spending is the driving force behind working money. 

The first and most important rule is to spend less than you make. As discussed earlier, overspending severely affects your overall wealth, so use these tips to ensure smart spending:

  • Track where most of your money is spent. 
  • Consider the depreciation cost of your purchases. 
  • Buy an item only if you can afford it. 
  • Find out the hidden problem behind money drainage. 
  • Start investing and saving money as early as you can. 

8. Frugal Living

Frugal living can help you save a lot of money. A frugal lifestyle is an economical lifestyle where your money is only spent on absolute necessities. If you belong to a lower or lower-middle-class income family, it is the best practice for you to make your money work. 

A frugal lifestyle gives you more financial freedom. It allows you to reach your goals earlier. It may not be easy, but the chances of achieving your goals are quite high. 

Here are some frugal living tips to start you living frugally:

  • Plan your daily meals
  • Select the food on sale for the whole week and cook it all at once. Make portions for every day and freeze them. Use one portion each of the next 7 days and repeat the process.
  • Sell unnecessary items at your home.
  • Buy used products
  • Prefer walking or using affordable transport 
  • Lower electricity use
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9. Passive Income

Passive income is the income you earn from a business, hobby, or investment in which you do not actively participate. 

Use these passive income ideas to help you improve your lifestyle:

  • Dividend Investing
  • Start membership website
  • Write a book
  • Join the Affiliate Program from Amazon
  • Introduce an online course

10. Use Technology to Organize Your Finances

Technology has now taken itself to the next level. You do not need a personal finance manager, as many apps in the market can do the job for you. 

These are some best personal finance apps you could try:

  • Empower. This digital wealth platform offers investment planning and management tools in free and paid versions. Read our full Empower review for more information. 
  • YNAB (You Need A Budget). YNAB is a budgeting app with a simple four-rule method designed to help you organize your finances. It claims to give real results, with new users saving $600 in their first 2 months up to over $6,000 after a year. Learn more about the app in our full YNAB review.
  • Mint. Currently the most popular financial management tool, Mint is a simple and easy-to-navigate budgeting app that would help you track your money, set goals like savings or retirement plans, and calculate your spending habits. For details, check out our full Mint review.

Money Affirmations to Remember to Make Money Work for You

Many people use money affirmations as daily mantras to encourage positive thinking and attract wealth. 

Here are some to start you off: 

  • Every dollar I invest comes back to me multiplied.
  • I am not afraid to look at my expenses.
  • I choose to live a life full of wealth and luxuries.
  • I allow myself to prosper and grow.
  • My income exceeds my expenses.

5 Misconceptions /Unhelpful Attitudes About Money


If you are avoiding your money problems, they will only get worse. Instead of having financial anxiety, it is better to put your money in a place where it can work for you. 

The best way of identifying if you have this habit is to see whether you feel anxious while checking your bank statements or balance. 


Overspending and avoidance are interconnected. If you do not overspend, you will never reach the stage where avoidance of financial problems becomes an issue. 

Most people spend too much on unnecessary subscriptions, overpriced cars, and parties, which causes them to fall into a never-ending debt loop. 

Always Needing More

Some people do not have enough cash in their bank accounts to live a comfortable life, while some never stop asking for more luxuries. If you belong to the second category, there’s a serious problem that you need to fix. 

Unnecessary Loans

If you have a bad habit of always needing more, you will most likely apply for unnecessary loans to buy more than you can afford, reducing your money until it is completely gone. 

Immediate Use of Paychecks

Are you one of those who always wait for their paychecks and use them all at once? If yes, you need to eliminate this habit and reevaluate your financial approach. 

The best approach to spending is to make a budget and stick to it.

Frequently Asked Questions (FAQs) – How to Make Money Work for You

What Does It Mean “Let Your Money Work for You”?

Let your money work for you is an idiom that means spending your money in such a way that it increases itself on its own.

How Can I Turn My Money Into More Money?

The best way to increase your money is through investing. You can invest in tangible or intangible assets to increase your overall wealth.

How Do I Invest My Money to Make Money?

You can invest in cryptos and NFTs, one of the most popular ways of investing today. Investing in large-cap, mid-cap, and small-cap stocks can also be beneficial, earning you a 7% average annual stock market return.

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Conclusion – How to Make Money Work for You 

When your money is working hard for you, you enjoy the benefits of good money habits, multiple income sources, and stress-free life that is secure and free from debt.

From the options listed above, you could choose one (or more!) money-making ventures that suit your circumstances and preferences. Then, with focus and hard work, you’ll be well on your way toward achieving your financial goals.

Check out these related articles for other ways to make your money work for you: