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13+ Ways to Spend Money to Make Money (2024 Guide)

Don't Work Another Day is reader-supported. We may receive compensation from the products and services mentioned in this story, but the opinions are the author's own.
  By Forrest McCall | Last Updated:  September 14, 2021

They say you have to spend money to make money but, what exactly does that mean? Making your money work for you is easier than ever, though you might not know where to start.

That’s why we’re here with some key ways to get a return on the spending money.

In this post, I'll explore some of the best ways to spend money to make money and how to grow your passive income streams to reach financial freedom. Let's get started!

Should You Save Money or Spend Money?

Hear me out. Stop saving money.

While you might have heard that you need to save your money, we’re here to tell you it’s wrong. While it is safe, your money is just sitting there and it’s not really doing anything.

Instead, your money should work for you, going from the amount you started with to more money than you imagined. If that sounds like a big leap for you, we get it but, don’t knock it ‘til you try it.

Spend money to make money is our motto, and after learning how, you're sure to jump on board too.

Getting Started with Growing your Money

Getting started to spend money to make money is easier than ever thanks to two things, the internet and your laptop.

The web has a ton of opportunities to start growing money that you spend.

From investing in some of today’s top investing sites to taking the first steps to start your own business, you can do it all from the comfort of your home or out on the go. The days of letting your money sit in a bank and collect micro interest are over.

Nowadays, there are opportunities to turn your hard-earned money into money earned in as little as a few hours. While some methods take time to learn, others allow you to jump right in and start flipping your money into much more than what you started with, all you have to do is spend money.

Below, we'll not only show you the ropes but also introduce you to 13 ways you can start spending money to make money.

Side Hustle Resources:

Spending Money to Make Money: Ways To Grow Your Cashflow Today

Spending money to make money can go a long way in building long term wealth. Whether it's by starting a business, getting paid to shop, or advancing your education – there are many ways you can spend money to make money.

Start Investing To Make Money

Start Investing

Investing is one of the riskiest ways that you can spend money to make money. Though it can seem scary, the return is high, and you can make money fast, especially if you make the right moves.

While you shouldn’t jump right into the deep in and start to spend money on investing, you can, and there are ways you can secure your return.

For example, there are tons of sites on the web that offer automated trading options to invest. Not only does automated do most of the work for you but it also cuts down the cost as you won’t have to spend money on commissions when it’s all said and done.

Another key resource offered when you invest online is mirror trading. With trading websites that offer mirroring, they allow you to copy the same moves as some of the most successful traders online. That means that you could follow an expert and make the same trades they make without ever lifting a finger.

It’s not only a way to spend money to make money but it’s also a way to do passively. Pretty sweet, right?

So what are the best way to start investing?

Purchase Stocks

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Invest in Real Estate

Real estate can be among the top ways to grow your money and build wealth. There are many resources you can find online to help you get started or you can register for Fundrise to invest without the hassle and headache of other real estate investing methods. Sign up below to get started!

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Sharpen your Skills

Investing in yourself is one of the most solid investments out there. You can not only increase your income but expand your knowledge too. Skills are great to have in the long run, adding more useful tools to your toolbelt that you can apply to a lot of things in life.  

There are a few reasons why investing in yourself and learning a skill is a way to make money, both of which we’ll talk about below.

First of all, you could take that skill and get a job where you can make use of it. Increasing your pay should be a focus to help your budget each month.

Take web design for example. As a web designer, you could either freelance your way to extra cash or go out and see what companies are looking for someone with your skills. Either way, you could take that skill and start making money off of it in no time.

Secondly, you could teach others your skill.

These days, online courses have become an obsession, with people wanting to make the best of their down time and learn something new. That’s where you could use your skill to make money, offering your expertise in an online course.

There are a ton of websites that allow users to create a profile and upload their video, which they can offer to viewers for a fee. Perhaps one of the sweetest things is that you can post the same video on multiple channels, getting a bit of extra cash every time someone chooses your course.

The truth is – increasing your skillset is one of the best investments you can make.

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Ibotta - Cash Back

Spend More Money on Cashback Sites

You might have heard of cashback but not yet ventured into the money-making world. If you haven’t, it’s not a big deal but, you should start taking advantage ASAP!

Choosing a great cashback site means that you’ll earn a percentage of your money back on everything that you spend. That means that you could spend money on essentials like gas, groceries, date nights, and even travel, and get some of your money back.

One downside to this method is the fact that it could take some time to actually withdraw your cash.

Still, you can think of this one as a long-term way to make your money work for you, earning a passive income. Just think, over time, you could get a good chunk of change back for money that you’re already going to spend anyway.

So, why not make it work for you?  

By using apps like Ibotta, you can earn free cash just for spending money each week at the grocery store and a variety of other retailers.

If you want to build your income and balance your budget in a matter of minutes give Ibotta a try with the link below. If you need another reason to give it a try – take advantage of the free $20 bonus!

Add Crypto to your Portfolio

There are a ton of new cryptocurrencies out there, some of them making a splash in the stock market. Crypto has been growing steadily for a long time now, making it a secure investment (well, maybe…).

If you’re in it for a quick return, there are also cryptocurrencies that are new and jumping all over the place. The higher the risk, the more return you could potentially get on your investment. Whatever the case, everyone should have one or more cryptocurrencies under their belt.

There are already countries starting to make crypto their national currency, and a few more are sure to follow suit.

Though at the moment it’s pure speculation, but you never know when the next big announcement will be made that can make your small investment worth a lot more than what you came with.

When you trade cryptocurrency you'll always want to be sure you have the money to lose in case your purchase never turns a profit.

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Top Business Ideas for Women

Start a Business

Don’t take this one lightly, as it requires a bit of planning before you break ground. Still, if you’re a quick thinker and are ready to brainstorm solo or with a small team, you could start spending money on creating a business.

Many businesses are in constant need of money, whether it’s money to keep things in stock or to keep lights on. Some key things to think about when considering this option as a way to earn money is to really narrow down your business to a niche-specific one. Then, start finding ways to get your name out there and start bringing potential customers your way.

One key thing to remember, if this is the route you’re considering, is the fact that most businesses are long-term investments, not really earning you money back until further into your business journey.

Though it can be difficult, just remember that, with a solid business, most of the money that  you put into it will come back in the form of profit, sometimes even giving you double or more than the initial amount you put in.

There are many profitable business ideas that can be great investments in the long run. For example, starting a power washing business might not be the most attractive venture – but it can be very profitable if you have the tools to complete the job.

Starting and running any business requires a unique skillset that can be difficult to acquire. Many of the skills you learn will happen through time and experience. There aren't many courses or resources that can teach real life business.

Write a Book

Are you one of those people that always says they should write a book and never does? Well, join the club, because there are a ton of people that want to write that just never do. While it might not take you much money to write, you may have to invest a little money to get it published or edited before uploading it to a site.

The good news is that you won't have to spend money like crazy to get started.

These days, there are free websites that allow you to upload your eBook, though not all of them have a large audience. Some sites and apps with the largest audience will cost you a fee to get your book up and showcased, meaning that you may have to spend money.

Still, it could be worth it if your book catches on, so make sure to send it out to friends and blow it up on social media.

The better your advertising strategy, the better that you’ll be able to sell, which could mean a bit of cash in your pocket every single time someone decides to buy your book. You don’t just have to post it in one place either, something to consider when you’re looking for ways to spread the word.

If you want to get paid for your writing – publishing a book is a great option.

Related: How to Make 50k a Month

Get Crafty

Not everyone has a knack for creating stuff but, if you do, you could turn that into cash in hand. If you have an imagination and know how to craft, you could take household items and turn them into things that people will want to buy. The materials you use don’t have to be expensive, and you could more than double your initial investment on supplies.

You don’t just have to limit yourself to paining, drawing, and taking photos. As a matter of fact, you might find more success when using off the wall ideas. Try and think of things that everyone needs and put a fun twist on it.

You’ll be surprised how many people stop by and give your item a look.

When you have an idea and it comes time to sell, you can do so on one of many websites that allows crafters to sell their items like eBay, Etsy, or others.

Selling crafts for a profit can be a great way to make money by spending money.

Related: 61 Crafts to Make and Sell

Video Editing YouTube

Join YouTube

Creating videos on YouTube is fast, simple, and won’t cost you a fortune. While you might want to dish out some money when you start for things like a mic and a camera, you don’t have to if your content is good enough.

There is one thing about YouTube though: it’s crowded.

If you want a spot on the channel to where you can start making your money work for you, you’ll have to earn it, and how is a bit of a mystery. Start off with an idea that you’d like to share with the world. Then, plan out your video and make sure that you have all that you need to start recording.

Once you record, make sure that you edit properly (use a free editor) and adjust any setting to make it both watchable and shareable so viewers can post to other sites.

Make sure that, once you’re done recording, you share it on all your social pages, getting your number of views up there. The more viewers you have, the better your chances are of hitting viral status, which could come with some sweet deals.

You could make money for investing little to nothing on YouTube, though the only way to do it is to get started and keep at it.  

There are many courses to learn how to make money on YouTube but I don't believe paying for them are necessary.

Develop an App or Software

If you’re a developer, you might already know about the powers of developing an app, software, or website.

If you’re not, there are a ton of ways to start making money using your development skills.

Apps are the thing these days, with everyone looking for the latest one that will make their daily tasks easier. The same goes with software, which you could start developing once you learn the skills necessary. It helps to start by thinking about an idea or a problem, brainstorming how you could turn that into an app that people would want to use.

Then, all you have to do is get to work planning the app and creating a nice looking one with a cool name that will catch the eye.

Just like with the eBook and crafts we mentioned earlier, you can upload apps onto several different platforms, getting yourself out there. The more exposure you get, the higher your chances to get downloads, which means cash in your hand with each and every one.

Related: How to Make Money Programming

Open the Right Savings Account

Not all accounts will mean that your money is sitting there doing nothing. There are accounts out there that will earn you money, even if it’s just hanging out in your account. That's free money!

All banks have some kind of savings account, most of which allow members to collect interest on the money they invest.

Make sure to check out what different banks have to offer and make sure to pay close attention to the amount of interest collected on payments. Go with one that has high interest like CIT Bank and will offer you a chance to collect a max amount on the money that you invest.

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Don’t forget to check out members only bonuses, like earning money for referring friends or earning a bonus for a certain number of years as a customer.

Whatever you can do to increase the amount of money in your account, the better. Because the higher the amount in your account, the more interest you can collect, even if your money is just sitting there.  

Related: Investments That Pay You Every Month

Start a Blog

If you’re not quite ready for the camera, a blog or online business could be the next best option. Not only will you have a shot to express yourself, but you can get creative with your setup and even create your own website. There are lots of ways to make more money on your blog, though most of them could take time.

Start by focusing on what you want your blog to cover, really honing in on a niche that you love and enjoy. Then, you can start doing some research to take a look at the competition and how you compare.

Try and make yourself stand out by creating something unique and fun. One of the last things (though it’s super important) that you should focus on is the design of your website. You want a space that looks good but has its own unique vibe, one that separates it from all the rest.

In that way, you can create something that’s catchy to the eyes but that also provides readers with content that they can’t get enough of. Plus, sharing it on social and taking advantage of Facebook ads will shoot your blog popularity up too.

Starting a blog, website, or online business is not for the faint of heart. It will take passion and dedication to become successful and start making a profit each month.

There are several types of blogs that can make a serious income from your writing.

To get started, you'll need to purchase a domain name for your website. This can be done through Namecheap for as little as $10 a year.

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Next, you'll need to secure hosting for your site. My favorite hosting platform is SiteGround. They offer extremely fast hosting with an affordable price tag at around $10 per month for most sites.

SiteGround is my favorite hosting platform to easily start a blog. They have top-notch customer service and prices starting as low as $7 per month. Sign-up below!
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Finally, it's time to start gathering your ideas and advertising your website on social media. Many bloggers will turn their hobby into a full time business in their free time.

Host a Guest

If you have a home, an apartment, or even a cozy tent, you could put your place up on home sharing sites like Airbnb. This will especially give you a good return on your investment and make you a private business owner all in one go.

If you live in a fun city with lots of things to do or even far away where it’s quiet, you could be sitting on a gold mine, putting your home up for grabs for people looking to find a unique place to crash.

Like with most investments, the more you put into it, the more you’ll get out, and this is definitely true with home sharing.

Setting up your pad in one that has a chill vibe and spending a little extra on décor and extras are essential, especially if your goal is to really make a name for yourself.

You can earn more if you offer your entire house instead of sharing, so if you have a place, you can crash while your place is used for rent (have a friend that wouldn't mind?), you could make even more.

Creating an account is simple and all you need to do is get new customers and a few good reviews to start, earning money and investing little by little to make your pad one of the most requested in your area.

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Rental Business Ideas - Beach Chairs

Rent Things to Make Extra Money

Spending money on things to rent is a great method to grow your passive income streams.

There are hundreds of things you can rent for a profit. For example, renting lawn mowers or other yard equipment can be a great way to make extra money and strengthen your financial future.

Depending on the rental market – it can be easy to get a sense of how much money you can make renting things.

Tips to Maximize your Money-Making Abilities

So, there you have it. 13 ways to spend money to make money, all of which you can start working on today. While all of them have their different ups and downs, each of them has something to offer everyone. One thing to consider before choosing one is how to maximize your money-making abilities.

All of our top 13 ways to earn money on your investments have one thing in common, you can do all of them online. With a solid internet connection and a few extra bucks in hand, anyone can start taking steps to making their money grow, maximizing their abilities with these few simple tips.


There is noting good that comes from a plan that wasn’t well thought out.

While you might be in a hurry and excited to get things up and running, we promise that taking some extra time to really put things into perspective is worth it.

Take a few moments to think of your plan and how you plan to execute it.

Then, think of things that could go right and wrong. After that, you’ll have a solid idea of how your business venture will go.

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Share the Workload

Every person only has two hands and one brain. Makes sense, right?

They also only have 24 hours in one day. Adding a partner in crime to that means that you could double your potential and maximize your output.

While this is not for everyone, it could be if you’re willing to work and have someone willing to work with you like a friend or family member.

Stand Out

No one wants to throw money into something they’ve seen and heard before.

Things get boring and repetitive, and people are always looking for something new and unique.

Take some time to really think about your image and your product and set yourself apart from all of the rest.

Whether you’re making something to sell, starting a business, or creating a solid investment portfolio, think outside of the box.

You’ll become much more successful than you think.

Don’t Skip Out on Marketing

If there is one area that’s always worth the investment, it’s marketing and advertising.

Getting your name out there is a key way to score followers, customers, clients, and students.

Not only do you need a solid marketing strategy but also to know the places to share your stuff too.

The more you share your items or services, the more successful you can be, and it will happen long before you know it.

While you might be tempted to save on your advertising costs, this can hurt your business in the long run.

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Don’t be Stingy

Not all of us have money lying around that we can throw into business ventures.

However, even taking some time to save up to spend more money before embarking on an investment is worth it.

When it come to making your money work for you, the more you put into it, the more you’ll get out of it, so don’t be stingy with your initial investment.

Also, don’t be afraid to throw more down, every penny is a step closer to earning more cash.

Related: Success Is The Best Revenge

Create a Plan

Whether you're starting businesses or selling your services – having a plan for the future is essential.

While you might not worry about creating a plan at the start, it's worth taking into consideration to limit future stress.

For example, spending money on education or an online course to land a better paying job is a great idea if you can afford it. Try to fast forward your thinking to better understand how it will affect your future earnings.

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Final Thoughts on Ways to Spend Money to Make Money

You know what they say, you have to spend money to make money. That’s true, but the question on many people’s mind is, “how do I do that?”

When you spend money to make money, you’re not only investing in something useful but also earning more money on what you initially invested. While some methods require some sort of skill, there are many that don’t that you can start right now.

The quicker you start the quicker you’ll start earning cash in hand, getting returns on your money in no time. If you’re ready to start earning, take a few of our tips, combining them to find the best method or combination of methods that work for you.

Some of them don’t require much work either or spending money in large amounts, so what are you waiting for?  

Forrest is a personal finance, entrepreneurship, and investing expert dedicated to helping others obtain life long wealth. He has a Bachelor's degree in business and has been featured in many popular publications including Forbes, Business Insider, Bankrate, CNET Money, and many others. To learn more about Forrest, visit the About Us Page for more info.
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