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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

spencer
spencerEnlightened Mentor
Asked: April 17, 20242024-04-17T18:33:12+00:00 2024-04-17T18:33:12+00:00In: Money & Business

How To Make Your Money Work For You?

What’s the best way to make your money work for you, if you have some bunch of money saved and you want to avoid inflation, what’s the best way to use your savings and make more money?

investmake moneypassive income
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3 Answers

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  1. Abigael
    Abigael Trusted Adviser Abigael
    2024-07-10T02:50:46+00:00Added an answer on July 10, 2024 at 2:50 am

    The best way to make money work for you is to invest in assets and methods that makes that money grow instead of just letting it sit in an account. The least you can do is let it sit in an account that earns you compound interest over the years. But the best way to let it work for you to take high cRead more

    The best way to make money work for you is to invest in assets and methods that makes that money grow instead of just letting it sit in an account. The least you can do is let it sit in an account that earns you compound interest over the years. But the best way to let it work for you to take high calculated risks. This is by investing in businesses and trading activities such as forex trading or real estate that can assure you a great return while still holding an ability to manage the risks.

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  2. Mika
    Mika Expert Mind
    2024-04-18T10:45:57+00:00Added an answer on April 18, 2024 at 10:45 am

    Making your monerk for you means you are using your money to make profits. There are two ways to do it, one is through investment and another is through business. When you invest, you do not have to work for your money as the company where you have invested will work hard to generate profits. HoweveRead more

    Making your monerk for you means you are using your money to make profits. There are two ways to do it, one is through investment and another is through business. When you invest, you do not have to work for your money as the company where you have invested will work hard to generate profits. However when you start your business, you will have to work really hard to profit from your business. And it might not always give you profits.

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  3. deucher
    deucher Active Contributor
    2024-04-18T13:17:39+00:00Added an answer on April 18, 2024 at 1:17 pm

    I never thought before that my money would work for me, but it became very difficult for me to live paycheck to paycheck because I started spending a lot of money on things I didn't need. The very first method that I used for myself was an investment in a bank. I understand that this is a bad idea,Read more

    I never thought before that my money would work for me, but it became very difficult for me to live paycheck to paycheck because I started spending a lot of money on things I didn’t need. The very first method that I used for myself was an investment in a bank. I understand that this is a bad idea, but for me it was for experience and not for profit because the profit did not exceed inflation. Then when I studied most of the material I started investing in stocks

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