How to send your money to work? (Money Boosting Tips)
Top Guarantee ways to send your money to work for you. Have you got cash lying around in a savings account, not gathering much interest, and not really doing you much good? Well, if so read on as we have some great tips on how to turn this money into money that gets you the best return for your money.
Read our tips on smart investment or Send Your Money to Work and you will learn how to make your money make you loads more money!
Be proactive with cash
If you have spare money, don’t ever ignore it thinking this is the best way to save for a rainy day. Instead, make a plan of how to get your money-making the best return for you. Do some research. Check out some investment strategies. Go online and see if you can compare competing providers of financial investment solutions.
Ask your family and friends how they have invested their spare cash. There are so many things you can do with your ‘rainy day’ money which are so much better than simply ignoring it and feeling safe knowing it is there if you really, really need it in a hurry.
Take risks; make mistakes and learn from the experience
There is an old saying; ‘if you have never made a mistake you have never made anything’, and so true – so be prepared to try new things. Invest in new, exciting opportunities that you believe in.
Why not back a business idea you like the sound of by becoming an angel investor? This way you can watch your money help build a business and see your investment grow and grow!
Stick to your budget
Sticking to your budget is important. If there is a glitch, for example, if an emergency arises and you need to get a payday loan (from a reliable provider) and paying this back costs a bit extra – don’t be afraid to change your budget and take account of the new expense. An unexpected cost does not mean you should throw your budget out the window!
Points, bonuses, and offers
Stay in tune with points schemes associated with groceries, travel, and any other things you spend regularly on. It is amazing how much difference these can make to your overall budget allocation for things like travel and groceries.
If your credit card gives you a reward for spending – why not spend but do what the people offering the incentive don’t expect you to by paying back every penny and then spend again the next month and do the same thing all over again.
Convert stuff into cash
Have you got ‘stuff’ you have not thrown away because it is not being used, but is valuable so you would not really feel right throwing it on the scrap heap? Well if you sell, trade-in, or even rent out things like this, you can really make a profit on them. If your second car is gathering dust, why not sell it and put the money into an ISA?
Capitalize on things you would not have thought about
Boosting money is not always about getting a better job or working harder. Sometimes it just involves thinking laterally about the resources you have and using them to your advantage more successfully.
Take the humble parking space. If you live in the City, you may not know just how valuable your parking space is until you post an ad in a local newspaper, or media and find out that people will pay a daily rate for your car parking space when you are not even using it!
Use your skills
Have you got a unique skill that you don’t make any money out of? Well, why not boost your cash reserves by putting it to good use? Love fitness? Why not do some personal training on the side, after work? People will pay you to train them! Know about football? Why not advertise your training services?
You could even try something really, really quirky like being a magician for the day! Some people even make money cause they look like celebs! So, whatever your hidden talents are, put them to good use and boost your cash reserves at the same time.
Are you a parent?
If you have kids, why not encourage your kids to get out there and use their skills? It is not all about forcing them out to work or chasing them out with a stick, but if you promise to buy them a really great present after working over the summer hols, you both gain, don’t you? it may help Send Your Money to Work.
Have you got the answer to boosting your cash reserves or Send Your Money to Work? Is there some ingenious strategy we have not mentioned? Why not post your comments and opinions? Come on, join the debate!