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How To Make Your Money Work for You (13 Smart Ways)

Make Your Money Work for You

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Recent economic changes have made it almost impossible for the average person to make ends meet using just their paycheck.

Most people are therefore forced to find other means to get by. Most of them turn to side hustles to supplement their regular incomes.

Making your money work for you is one step to financial freedom. There are many ways to ensure a steady passive income stream.

If you’re wondering how to put your money to use, this is the post for you. This article gives you factual information on how to make your money work for you.

You probably think these methods are only helpful if you’re wealthy. However, using the small amount of money available to create a more significant passive income stream is possible.

Dive in for more insight into making your money work for you.

Make Money Work For You Meaning

Making your money work for you means being in control of your finances. It entails investing in assets from which you can earn passive income and improve your financial standing.

If you play your cards right, you may build wealth or gain financial independence.

How To Make Your Money Work For You

There are many ways to make money work for you. Most of them involve investing in profitable assets that generate income for you.

You can also start a side hustle that earns you money to enhance your income. The first step is setting goals and a timeframe. Once you have that, dive in to find ways that work for you.

1. Invest in Dividend Stocks and ETFs

One of the best ways to make your money work for you is to invest in stocks and exchange-traded funds (ETFs).

You can flip the shares for quick profit immediately after you purchase them. You can also hold on to them until they increase in value before you sell.

If you want to invest long-term, you can increase your dividends by reinvesting your profits. It’s wise to diversify your portfolio by investing in different companies to reduce the risk.


It’s also crucial to research various companies and types of investments before venturing into the stock market. 

If you’re new to the stock market, consider seeking advice from a financial professional. You can also conduct your dealing through a broker. However, this will cost you a bit because brokers charge commissions.

If you’re conversant with stock trading, you can invest in stocks and ETFs for free through your bank. You can also use commission-free platforms like:

  • Webull
  • TD Ameritrade
  • Fidelity

2. Invest in Fixed Income Securities

Another way to make money work for you is to invest in fixed-income securities like:

  • Bonds
  • Certificates of deposits (CDs)
  • Money market funds (MMFs)
  • Treasury bills

Here’s how it works. Acquire a debt instrument like a bond from the government or corporation. You then receive a fixed amount of interest semi-annually. Once it matures, the principal amount is returned to you. 

Fixed-income securities are a secure, low-risk way to earn passive income. Unlike stocks, their value doesn’t fluctuate.

The disadvantage of fixed-income securities is that they have low returns and slow capital appreciation. They’re also affected by inflation.

3. Invest in Cryptocurrencies

Crypto has gained a lot of popularity recently. It’s an excellent option if you want to make money work for you.

You can use several platforms if you’re interested in investing in cryptocurrency. Some of my favorite crypto exchanges include:

  • Nexo: This platform has a higher interest rate compared to similar websites. It offers up to 16% interest on in-demand cryptocurrencies. 
  • Coinbase: Use Coinbase to invest in popular digital currencies like Bitcoin, Ethereum, and Solana. You can stake cryptocurrencies and earn interest.

Cryptocurrencies are risky because their prices are more volatile than other assets like stocks. To invest in them, you must first research the digital coin and know your risk tolerance.

4. Invest in Real Estate

Investing in real estate properties is one of the conventional ways to make money work for you. You can buy an entire property if you want but don’t worry if you don’t have as much starting capital.

Thanks to real crowdfunding platforms like Arrived and Fundrise, you don’t need to be a millionaire to venture into real estate investing.

Such platforms pool funds from investors and use the money to invest in real estate like residential or commercial properties.

This way, you purchase a portion of the shares, not the entire property. You then earn interest from property value appreciation and rental income in proportion to your share capital value. 


The minimum initial investment on Fundrise is $10. This is a great place to start if you don’t have a lot of cash to invest. 

You can always add to your investment later on to increase your interest. The minimum additional amount is $10. 

The platform charges you a 0.15% annual investment advisory fee and a 0.85% annual asset management fee.

You’re expected to hold the shares for at least five years on Fundrise. Some costs will be involved if you want to liquidate your shares prematurely.



The platform allows you to invest in rental homes for as low as $100. Like Fundrise, the minimum investment period for Arrived is five years.

They charge an 8% property management fee for long-term rental properties. The cost ranges between 15%-25% for vacation term rentals.

Consider investing in these Fundrise and Arrived to make money work for you.

5. Open a High-Yield Savings Account

Another simple way to make money work for you is to open a high-interest savings account. It’s an excellent way to earn extra cash if you have money you don’t need.

High-yield savings accounts differ from traditional ones because they have higher interest rates. Online banks like Current and Oxygen offer competitive rates on savings accounts.

If you decide to open a high-yield savings account, you have to compare several factors that influence the interest you’ll get.

These factors include:

  • Initial deposit requirements
  • Interest rates
  • Minimum balance requirements
  • Platform fees

Current is a great platform to make your money work for you. This fintech company allows you to earn up to 4% APY on your savings. 

They also have an automatic savings feature that rounds up purchases to the nearest dollar. You can enable this feature if you often need to remember to save.

Opening a high-yield savings account is a great way to make more money from your money. If you have some spare cash, this beats keeping it in a traditional savings account.

6. Flip Money

Generally, flipping money entails making money work for you by buying and reselling goods at a higher price. It is one of the oldest ways to multiply your money.

There are many ways to flip money, each with its risks, pros and cons. The best part about flipping cash is that you don’t need wealth to succeed. 

Anyone can flip money. Some methods require a significant starting capital, while some require little to none. You can flip $1000 or more.

Here are some of the best ways to flip money:

Retail Arbitrage

Retail arbitrage involves purchasing discounted products from popular stores like Walmart and reselling them for a profit. 

You can resell the items online on Amazon, Mercari, and eBay. If you decide to sell on Amazon, you can use the Amazon FBA service. 

Amazon FBA packages and delivers orders to your customers, saving you the trouble of shipping.

If you prefer selling to local buyers, you can use sites like Facebook Marketplace and Offerup.

Flip Digital Assets

Another way to flip your money is to buy and resell digital assets like websites and domain names.

You can start a blog, grow its traffic, and then sell it at a profit. You can also resell the website at a higher price immediately after purchasing.

With domain names, you purchase those that are likely desirable and then resell them in the hope of making a profit. You can purchase domain names at Namecheap.

7. Use Cash Back and Reward Apps

Did you know you could get paid to spend money? While it isn’t a lot, at least you get some cash back for buying everyday items.

This is how cash-back apps work. When you use the app to purchase, some money is returned to you.  Once your cashback earnings hit a certain amount, you can cash out to your bank or PayPal account.

Here are some popular reward apps you can use to make your money work for you:

  • Fetch Rewards: You earn points for shopping and submitting receipts with this platform. You can redeem your points for gift cards.
  • Receipt Hog: Shop online or in person, then upload your receipts on this website to get rewards.
  • Drop: This platform pays you to shop online at your favorite brands.
  • Upside: Using this app, you can earn cash back at more than 50,000 locations, including gas stations.
  • Amazon Shopper Panel: This invitation-only program allows you to earn rewards for shopping. You can earn up to $10 for uploading ten eligible receipts per month.

While this method won’t make you rich, it’s a reliable way to earn free money.

8. Start an Online Business

Another reliable yet unpopular way to make your money work for you is to start an online business.

Starting an online business requires some time and effort. You should therefore be willing to put in the work.

Examples of online business ideas you can delve into include:

Start a Blog 

Blogging isn’t something that’ll pay you immediately. You should consider starting another business if you want to make quick cash.

The best part about blogging is you can get massive returns if you put in the right amount of time and effort. It also requires little starting capital.

You can earn money from advertising, affiliate marketing, offering sponsored content, and selling merchandise.

Start a Print-on-Demand Business

This involves partnering with a manufacturer to produce and deliver products to your customers. In this case, the items are printed on demand; thus, you don’t store inventory.

One of the best places to start a print-on-demand business is Printify.

Start a YouTube Channel

Earn money from creating content on YouTube and advertising on your channel. You can also use your channel to sell your products.

9. Learn a New Skill

How about you make money work for you by investing in yourself? You can learn or improve a skill that allows you to earn money.

Enrolling at a college or university is one way of doing it, but that can be expensive. You can always utilize the internet to access free learning material. Imagine earning from a skill for which you spent no money acquiring!  

There are many in-demand skills you can learn and start earning from. They include graphic design, blogging, and web development.

You can enroll for online courses on platforms like Udemy. You can also learn your skill for free on platforms like YouTube. 

Once you perfect the skill, you can start a business or get employed in the field. You can also create and sell online courses to help others understand or improve their craft.

10. Find a Side Hustle

Starting a profitable side hustle is another way to get your money to work for you. You aren’t limited to the kind of side hustle idea you can venture into. You can get creative.

The perk of this method is that most side hustles do not need a huge starting capital. One side hustle you can venture into is renting out your stuff. 

If you have an extra room, you can renovate it and rent it on Airbnb. You can rent out a spare car on Turo.

Many people rent storage spaces to store extra stuff. If you have an extra storage space or closet, consider renting it out on Neighbor.

Another place where you can rent out virtually anything is Fat Llama. All you have to do is list your item and respond to interested renters.

You must add clear photos and a catchy description to your listing to attract as many people as possible.

11. Invest in Small Businesses

Investing in small or upcoming businesses is another way to make your money work for you. 

Small businesses offer you potential returns, diversification, and a chance to participate in the success of the country’s economy.

You can invest in small businesses through equity investments by purchasing business shares. Equity investments allow you to share in the company’s profits and losses.

You can also invest by giving loans to small businesses. In this case, you earn profits from the interest charged on the loans.

You probably think this venture is for wealthy people, and you don’t have a chance since you can’t afford the significant starting capital. Well, this should be the least of your worries. 


With crowdfunding platforms like Mainvest, you can become an investor with as low as $100. 

This platform allows you to help fund as many small businesses as possible and then share in profits as a shareholder.

They offer more than 450 investment opportunities and many businesses. Some of the companies you can invest in include:

  • Breweries
  • Restaurants
  • Coffee shops
  • Bakeries 

Mainvest pays your revenue quarterly. They target potential returns of 10% to 25%  for investors.

Another remarkable fact about Mainvest is that businesses undergo a rigorous vetting process. This way, the platform ensures you invest only in quality businesses. 

12. Automate Your Finances

Automating your finances helps you to stick to your budget and financial goals. It allows you to pay your bills on time and avoid penalties.

It also allows you to secure your future through savings and investments and repay any loans you might have on time.

Automating your finances makes you take control of your life and improves your financial standing.

There are several accounts you can automate. They include:

  • Loans 
  • Insurance payments
  • Savings and investments
  • Emergency fund contributions
  • Subscriptions 
  • Rent and mortgage payments
  • Retirement accounts

It’s crucial to ensure you don’t overdraw your account. This can happen if the due dates for your automated payments occur when you don’t have money in your account.

Keep track always to make sure there’s enough money in your account.

13. Get Out of Debt

Getting out of debt doesn’t necessarily pay you, but it lessens your financial burdens and allows you to put your money to good use.

It’s hard to build wealth while struggling to pay random debts. So if you want to make your money work for you and improve your financial standing, you must first work toward debt-free.

Sticking to your budget is the first step to getting out of debt. This ensures you keep track of every dollar and therefore avoid unnecessary spending.

It also allows you to save more and identify areas where you tend to overspend so that you can cut back.

You can use an Excel spreadsheet to create a budget or use budgeting apps like Truebill or Mint.

You can also set up a debt payment method with your employer or bank whereby a particular portion is automatically deducted from your pay.

The strategy to use to repay your debts is entirely up to you. If you want your money to work for you, getting out of debt is the place to begin.

Tips For Making Your Money Work For You

Here are a few tips to remember as you begin your journey to financial freedom.

  • Have a financial goal: It’s easy to work if you have a plan. Your goal must be realistic and proportionate to your income and spending habits. Decide how much extra cash you want to earn, then pick a method to reach your goal.
  • Have realistic expectations: Your goals must align with your income and spending habits. You also need to remember that your success won’t happen overnight. You have to put in time and effort.
  • Track your financial journey: The best way to stay on top of your finances is to create and stick to a budget. This will save you from overspending and allow you to save more.

Frequently Asked Questions

How Can I Grow My Money Fast?

One way to grow your money fast is to start a profitable side hustle or online business. You can flip money reselling popular products like clothes, shoes, or home goods online. 

You can acquire these items from discounted sections at retail stores like Walmart. 

For clothes, find unique pieces likely to move quickly from thrift stores, flea markets, and online marketplaces.

You can then resell the items on platforms like Mercari, eBay, or Amazon. You can also start a print-on-demand business and make deliveries with Amazon FBA.

How Can I Turn 1k into 10k Fast?

You can quickly flip $1000 and turn it into $10,000 through the following methods:

  • Retail arbitrage: Involves buying discounted items and reselling them for a profit. It’s a great way to turn 1k into 10k since $1000 is enough to purchase enough inventory. You can get the items from popular stores like Walmart and then resell them online on Amazon, eBay, or Facebook marketplace.
  • Start a side hustle: You can use the $1000 as starting capital for a new side hustle idea. You could acquire assets to rent out. If you have extra space, you could use the $1000 to renovate it and rent it out to guests on Airbnb or as a storage space on Neighbour.
  • Flip digital assets: You can purchase digital assets like websites or domain names and resell them at a profit.

How Can I Turn 10k into 20k

There are many investment ideas, business models, and side hustles you can venture into if you want to turn $10,000 into $20,000.

They include:

Considering risk tolerance, timeframe, and financial goals is essential before deciding the path.

You must also conduct thorough research before investing to avoid losing money.

Final Thoughts

Thanks to technology, there are plenty of ways to make money work for you in 2023. You can always explore the ones mentioned in this article to find the best one.

If you want to make money fast, consider starting an online business or flipping cash.

However, if you’re looking for long-term ways to make your money work for you, invest in stocks or real estate.

Whichever way you go about it, you’re bound to succeed as long as you set realistic goals and do your due diligence.

If you need more ways to make your money work for you, check out:

Lydia is a personal finance expert and the founder of Sproutinue, a personal finance site helping you find legit ways to make money, save money, and achieve financial freedom. She has been featured on various major financial publications, including Investopedia, Business Insider, GoBankingRates, and more.

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