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Top Ways to Manage and Make Your Money Work Harder For You

make your money work for youWith the cost of living always rising, it can be challenging to make your money work harder for you in both the short and long term. You might not think that you have any spare cash to do the things you love or any savings for those problems that crop up unexpectedly. 

However, it’s not all doom and gloom, and there are a few things you can do to make you money go further. Plus potentially save some for a rainy day.

Top Ways to Manage and Make Your Money Work Harder For You

Check out these handy tips to help manage your money better: 

1) Create a frugal budget

If you have an aim to save more or clear down your debt, the first thing you’re going to need to do is either…

  • revisit your personal budget, or
  • if you don’t have one already, to create one.

A well-planned budget is a tool that will enable you to make your money work hard, and to achieve the things in life that you want to – be it education, travel, a home or a wedding. Take the time to go through the last two or three months of your bank statements and really analyse all of the transactions. 

Note down all of the essentials:

  • utilities,
  • rent,
  • groceries,
  • fuel, etc – and make sure you are aware of exactly what those costs are.

You can then work to optimize them by using price comparison sites to find the best deals and save some money.

Next, take note of the areas of discretionary spending that you have – things like…

  • clothes,
  • eating out or takeaways,
  • nights out, etc.

It may surprise you when you look at exactly how much you’re paying out on those types of things.

Look at how you can change the numbers to make more money for your financial goals.

  • Are their subscription services you aren’t really using or enjoying? Cancel them off.
  • Could you switch to a data SIM-only network to reduce your cell phone bill?
  • Are you able to make lunch and take it to work rather than grabbing shop-bought sandwiches and coffees?
  • Could you even cycle or walk to work to save on travel costs and get a health kick at the same time? 

The changes that it’s possible to make will depend on your own individual circumstances of course, but generally, there are always areas where you can cut back if needed. Don’t think of it as making a sacrifice – think of it as a positive financial move that will empower you to have more choices with your money and achieve your goals.

Related: Are You Eating Your Lunch? Or Is Your Lunch Eating You?

2) Set up an emergency fund

In addition to saving towards your money goals, you will also need to set up an emergency fund to prevent having to go back into debt that you’ve just paid off should something unexpected happen.

From sickness to job loss to costly home repairs, life has a way of throwing you a curveball just when you least expect it. Around three months’ living expenses are generally considered a good amount to aim for.

  • Open up a savings account but make sure it’s one that is fairly accessible so that you can liquefy it in a hurry if needs be.
  • Then, set up a monthly direct debit to come out of your account automatically for the day after you get paid, so you don’t have a chance to spend all your money before you’ve saved.

3) Plan your big purchases

For larger purchases, plan up to a year in advance when you are going to buy them. It might sound odd, but this simple strategy can save you hundreds per year.

Think about it. If you know you’ve had your washing machine for a number of years, it’s not unreasonable to think it’s going to break before too long. All electrical goods have a lifespan. Instead of waiting until it breaks and having to purchase one in a hurry, if you plan at the start of the year to replace it, and budget accordingly…

  • not only do you have time to get the very best deal,
  • but you’re also not risking debt if it happens unexpectedly and you don’t have the funds to pay for it.

You can apply this approach to all of your household purchases and stock up.

The January sales are a great time to pick up things like bed linens, soft furnishings and Christmas items for the following year while June is good for tools and appliances. And if you want to purchase a car, the weeks leading up to a new range coming out can save you thousands of dollars as dealerships bargain to get rid of inventory. Shop smart and you can save big!

4) Invest your money wisely 

Investing your cash can pay dividends if you do your research. But of course, there are risks involved whatever route you choose.

Other than stocks and shares, property is another way to invest your money in an asset that often has a more stable return level. Whether you’re looking solely for investment or for a family home, there is a host of places that provide ideal neighborhoods and properties, whatever your tastes.

Locations such as Dr Phillips which is a community bordering Universal Resort in Orlando, Fl is famous for world-class golf, lakes, restaurant row and of course, it’s proximity to the Universal resort. Dr Phillips, real estate and houses for sale provide beautiful property options and a vibrant community which could be ideal for both long and short term investment plans. 

Will You Make Your Money Work Harder For You?

These are just a few of the ways that you can get to grip with your finances and try and make your money work harder for you. There are also lots of helpful apps that can track your expenses in real-time so you have a clear idea of everyday and long-term budgets. In the beginning, it might be challenging to get into a routine, but over time, it’ll become second nature so it doesn’t feel like you’re sacrificing anything. You’re just making positive changes for a healthier financial future.

Are you ready to make your money work harder for you? What is that you’ll do to earn those extra dollars?

Make Money


My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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