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You work hard for your money, but the right strategies can help make your money work for you. That means putting time or capital into something that continues to earn after the initial effort. The point is to build income streams that grow in the background—not just when you’re actively working on them.

What does it mean to make your money work for you?

Making your money work for you means using it to generate more value over time—without relying solely on your active effort. Instead of trading hours for income, you put your money into assets that grow or earn returns in the background. That could be investing in a side business, earning royalties on something you create, or putting cash into investments that compound over time. The goal is simple: Shift from working for every dollar to having your dollars—and your ideas—continue working for you. This doesn’t mean you’ll give up your day job; with your money quietly at work, you can earn extra income while working full time.

How to make your money work for you

• Sell products
• Invest in real estate
• Rent out your vehicle
• Start dropshipping
• Create an online course
• Leverage credit card rewards
• Open a business savings account
• Earn royalties
• Invest in the stock market

Putting your money to work can help you reach your financial goals, sometimes with little extra effort on your part. Practical strategies include the following:

Sell products

Global ecommerce has skyrocketed in recent years, with sales expected to reach $7.89 trillion by 2028, according to Emarketer. Investing some of your time and money into a product line could help you tap into that revenue potential. Maybe you know of a product with big promise, or you see a gap in the market that others are missing. If you need ideas, check out the 20 most popular products sold by US Shopify merchants.

Invest in real estate

Real estate investing puts your money to work in several ways. It allows you to earn rental income, build equity in the property, and claim tax breaks such as the depreciation and mortgage interest deductions. And if the property appreciates over time, you could potentially sell the property for a profit. 

Your options depend on your revenue goals and how much time and effort you want to put into managing the rental property:

• Long-term rental units provide steady monthly cash flow while building equity as the property value and mortgage payments progress over time.

• Short-term rentals (such as Airbnb) can generate higher income, but often require active management, higher turnover, and additional expenses.

• Property appreciation may lead to significant gains over time, though you won’t see the money until you sell the property or take out a loan against your equity. Renovations can also increase the value of a property.

To get started, you’ll need capital to cover the closing costs and down payment on a mortgage, or you may be able to use a business loan if you’re just renovating your property or purchasing supplies. 

Rent out your vehicle 

With car ownership getting more expensive, you might be looking for ways to make your car work for you. There are plenty of ways to leverage your asset or even start a car rental business. The best option for you depends on how much time, effort, and capital you want to put into it: 

• Peer-to-peer car rental platforms offer a simple way to rent out your car to other drivers, though you have less control because the rental platform sets all policies.

• Short- or long-term car rental businesses typically offer a higher return on investment but require more startup capital to foot the purchase of a fleet and fund operating expenses. 

Want to earn passive income from your car without renting it out? You could display ads on your vehicle or rent out your parking space. 

Start dropshipping 

Dropshipping is a retail fulfillment method where you sell products online without keeping those products in stock. When a customer places an order, you forward it to your dropshipping supplier, who then ships the product to the customer. You handle the marketing and initial customer experience. This business model could be a good option if your space is limited or you don’t want to manage inventory. 

To get started, you’ll need to figure out what to sell and invest some upfront capital into building an online store, marketing and advertising your store, and purchasing any apps and tools you’ll need.

Create an online course

If you have knowledge to share or a skill to teach others, creating an online course could be a natural step after selling your consulting or freelance services. This job typically involves putting together a curriculum, creating digital materials, and marketing the online course. Once the course is live, it can keep generating revenue on autopilot as new students enroll.

Your initial investment might include software, recording equipment, or a course platform, but after the upfront work, your ongoing costs are minimal. 

Leverage credit card rewards

Some business credit cards come with rewards programs where you earn points, miles, or cash back on purchases you were already planning to make. You can even leverage those rewards by reinvesting them back into the business. A few ideas:

• Use cash-back rewards to pay off high-interest debt.

• Use airline miles and hotel points to pay for business travel.

• Use cash-back rewards to stock up on inventory or pay for some of your monthly expenses.

• Routinely scan for discounts or offers from the credit card on purchases you are already planning to make.

Remember to pay down your credit card balance each month—otherwise, your interest charges may exceed your rewards earnings. It’s also important to choose a card that fits your business’s spending habits, so you’re rewarded for routine expenses.

Open a business savings account

A business savings account gives you a place to keep your operating reserve, save for upcoming work purchases, and set aside funds for quarterly tax payments. But you’ll want to put that idle cash to work by opening a high-yield savings account (HYSA), which pays higher interest rates than traditional savings accounts do. Like with credit card rewards, you can leverage your interest earnings by putting it back into the business. 

HYSAs are available at most financial institutions, like banks and credit unions, or you can find alternative offerings, like Shopify Balance.

Earn royalties

Royalties are payments you receive each time someone else uses your intellectual property, like books or music. Whatever it is, you’ll need to invest time up front to create your project, and you’ll also have to secure a deal with a publisher or record label. You can also earn royalties by licensing the designs for something you’ve patented. With the right asset, your creative work keeps earning long after the upfront effort is done.

Invest in the stock market

Investing in the stock market lets your money get to work as you buy and sell securities like stocks, bonds, and mutual funds. This allows you to earn money when your investments pay dividends, interest, or appreciate in value. You decide how much to contribute to your investment accounts and how frequently, and then the market does the work in the background. Beginners often start by using an investment app that automates contributions and trades. Either way, a long-term strategy allows your money to grow passively without requiring daily involvement.