You want to know how to make more money but don’t know where to start?

I get it—figuring out how to make more money can feel overwhelming. Maybe you’re juggling a day job, trying to save, or just tired of living paycheck to paycheck. But don’t worry—this post will guide you through practical ways you can start making money today!

Money is abundant and always flowing around us. Transactions happen every millisecond, and you want to make the money flow to you. In this post, I’m not just going to throw vague ideas at you—I’m giving you actionable strategies to help you build wealth.

Whether it’s cultivating the right mindset, finding smart investments, or starting a side hustle, I’ve got you covered. Ready to get started? Let’s dive in and explore how you can make more money today.

This blog post contains affiliate links, which means I may earn a small commission if you click on the links and make a purchase at no additional cost to you. I only recommend products and services that I personally use and believe will add value to my readers. Your support helps keep this blog running, and I truly appreciate it!

The information provided in this blog is for general informational purposes only and does not constitute financial or professional advice. Every individual’s financial situation is unique, and you should consult with a qualified financial advisor or professional before making any decisions based on the information presented in this post. The author is not responsible for any financial decisions made by readers based on the content of this blog.

How to Make More Money

Build a Financial Plan

All things must come with a plan. If you don’t audit your finances regularly, you’ll likely lose your way on the path to financial success. Building a financial plan helps you stay organized, set clear goals, and make better decisions with your money.

Why Do You Need a Financial Plan?

A financial plan gives you a roadmap for managing your money effectively. Without a plan, it’s easy to overspend, accumulate unnecessary debt, or miss out on important savings opportunities. With a plan, you can track your income, expenses, and investments while setting actionable goals for the future.

Steps to Build Your Financial Plan:

1. Set Clear Financial Goals:
   Start by identifying both short-term and long-term financial goals. Short-term goals might include paying off a credit card or saving for a vacation, while long-term goals could be buying a house, retiring early, or starting a business. Write down these goals and prioritize them based on your needs.
2. Track Your Income and Expenses:
   Begin by understanding where your money is coming from and where it’s going. Track all sources of income and categorize your expenses into needs (rent, utilities, groceries) and wants (eating out, subscriptions). Use tools like budgeting apps or spreadsheets to stay on top of your cash flow.
3. Create a Budget:
   A budget helps you allocate your income toward necessities, savings, and discretionary spending. Consider using the 50/30/20 rule: 50% for needs, 30% for wants, and 20% for savings or debt repayment. Sticking to a budget ensures you have a clear picture of your spending habits and helps avoid overspending.
4. Establish an Emergency Fund:
   Life is unpredictable, and unexpected expenses can throw your finances off course. Set aside at least 3-6 months’ worth of living expenses in an emergency fund. This financial cushion protects you from going into debt if something unexpected happens, like losing a job or facing medical expenses.
5. Pay Off High-Interest Debt:
   If you have high-interest debt, like credit card balances, prioritize paying it off. High-interest debt can quickly spiral out of control and eat into your ability to save or invest. Focus on paying off the highest interest debts first, while making minimum payments on others to avoid accumulating more interest.
6. Save and Invest for the Future:
   After you’ve taken care of immediate needs and debts, focus on building wealth through saving and investing. Set up automatic contributions to a savings account or retirement fund like a 401(k) or IRA. If you’re new to investing, consider starting with index funds or mutual funds for steady, long-term growth.
7. Review and Adjust Regularly:
   Your financial plan isn’t something you create once and forget about. Life changes, and so should your financial plan. Make it a habit to review your budget, savings, and investment progress regularly (at least once a quarter). Adjust your plan as your goals evolve, or as your financial situation changes.

The Benefits of a Financial Plan:

Having a clear financial plan allows you to make informed decisions about your money. It reduces stress, gives you confidence in your financial future, and helps you stay on track toward your goals.

Have an Abundant Mindset

I started with this because I believe financial success starts with the mind first. Think of money as a reflection of the value you create. When you doubt your ability to make money, you operate from a state of lack, and it becomes difficult to attract wealth. Shifting to an abundant mindset means believing that there are endless opportunities around you.

So, how do you form this abundant mindset?

First, eliminate activities or habits that make you feel anxious or worthless. I was once a heavy gaming addict. Every time I played, I felt shame and developed a mindset that pulled me away from abundance. Engaging in these activities moves you toward goals that don’t benefit your life—just like drinking alcohol clouds your focus on important objectives.

Instead, focus on activities that align with your well-being, like working out, learning a new skill, or making progress in your career. By pursuing goals that improve your life, you’ll start to feel a dopamine rush that’s much more rewarding than bad habits.

To build this mindset, practice daily gratitude. When you focus on what you have, you’ll feel more abundant and open to receiving more. Incorporate positive affirmations like “Money flows to me easily” or “I am open to financial opportunities.” Reframe negative thoughts: Instead of thinking ‘I can’t afford this,’ ask yourself ‘How can I afford this?’

Finally, surround yourself with people who have a growth mindset. Being in an environment where others are financially successful will inspire you to adopt similar behaviors. Building an abundant mindset takes time, but it’s the foundation for lasting financial success.

Cut Unnecessary Expense

Subscriptions are sneaky costs that eat into your money. Many of us sign up for services and forget about them, letting those small charges pile up month after month. It’s important to regularly review your subscriptions—whether it’s for streaming services, apps, or memberships—to determine if you’re truly using them.

Certain expenses happen right under our nose, and they can add up quickly. Being able to cut unnecessary expenses allows you to keep more of your money and use it for things that truly add value to your life.

How to Identify and Cut Unnecessary Expenses:

1. Audit Your Spending: Review your bank statements or use a budgeting app to track where your money goes each month. This will help you spot unnecessary charges, such as subscriptions, impulse purchases, or dining out too often.
2. Cancel Unused Subscriptions: Go through your recurring payments and cancel any subscriptions or memberships you don’t actively use. Services like Truebill can help identify and cancel them for you.
3. Cut Back on Luxury Items: If you often buy premium versions of items (like coffee, takeout, or designer clothes), consider scaling back. You don’t have to give up everything you love, but reducing frequency can save you a lot.
4. Negotiate Bills: Contact service providers like your internet, phone, or insurance companies and ask for lower rates. You’d be surprised how often you can save just by asking.
5. Switch to Cash: If you find yourself overspending with credit cards, try switching to cash for non-essential purchases. It’s harder to part with physical money, which can help you spend less.

Make Room for Financial Goals:

By cutting unnecessary expenses, you can redirect that money towards better financial goals, like saving for an emergency fund, investing, or starting a new side hustle. Small changes add up and can significantly improve your financial health over time.

Start with a Job

While it might seem obvious, starting with a job is the foundation for building financial stability. It’s the stepping stone to fund your dreams, whether that’s furthering your education, launching a business, or investing in opportunities. A fixed salary provides not just financial support, but also the stability and confidence you need to make bold moves toward your financial goals.

Beyond the paycheck, having a job gives you something invaluable: experience, skills, and connections. These are assets you can leverage in your future career or entrepreneurial journey. Even if it’s not your dream job, every role teaches you something new and helps you build the resilience and work ethic required for long-term success.

If you’re having trouble finding a job, don’t be discouraged. Reach out to your network, use online platforms like LinkedIn, and apply even if you don’t meet all the qualifications. Employers often look for potential, so focus on showcasing your willingness to learn and grow.

Remember, a traditional 9-to-5 isn’t your only option. Freelance work, remote jobs, or side gigs can provide you with the income and flexibility to pursue your passions. The key is to start somewhere—any job can be a stepping stone to something bigger.

Having a job also has mental benefits. With a steady income, you gain peace of mind, which is crucial for developing the abundant mindset we talked about earlier. Financial security helps you make smarter decisions and gives you the courage to invest in yourself and take calculated risks on your journey to wealth.

Invest

Investing can take many forms, whether it’s in the stock market, your education, or a personal project. The goal is to put your money to work for you, building wealth and securing your financial future. Investing isn’t just about growing your money—it’s about gaining financial freedom and creating opportunities that can change your life.

It’s important to invest in yourself first, whether that means improving your knowledge or acquiring new skills. Avoid spending money on unnecessary items that lose value or you may no longer use. Focus on long-term investments that will pay off in the future.

There are many types of investments to choose from, including stocks, bonds, real estate, and cryptocurrencies. Each type comes with its own risk and reward. Before jumping in, it’s essential to do your research and understand what you’re getting into. Educated decisions lead to better outcomes.

One of the key principles of investing is diversification—don’t put all your eggs in one basket. Spread your investments across different types of assets to minimize risk. For example, if you invest in both the stock market and real estate, you’re less likely to lose everything if one sector experiences a downturn. You can learn from my other blog by clicking here.

To get started, decide on a small percentage of your income to invest. Consistency is more important than investing a large amount upfront. You can start with a low-cost index fund, invest in education, or use beginner-friendly apps that help automate the process.

With my money, I’ve invested in the stock market, cryptocurrencies, education, and even this blog! I’ve found that the best investments are the ones that help you grow and open new doors. And remember, if you feel overwhelmed, it’s always wise to seek advice from a financial advisor to make informed decisions.

Make sure to put your money to good use and watch it grow over time!

Learn a New Skill

Learning a new skill is easier than ever these days, thanks to the abundance of information online. Whether you’re looking to advance your career, change industries, or start a new side hustle, there are countless resources available to help you.

From coding and graphic design to communication and leadership, there’s no limit to the skills you can learn. Many of these skills can directly increase your earning potential or open doors to new opportunities. For example, learning how to write, as I’m doing with this blog, has the potential to help me in many areas, like content creation, copywriting, and even consulting.

There are so many free or low-cost platforms where you can start, such as Coursera, Udemy, Skillshare, or YouTube. These platforms provide access to courses that can teach you anything from technical skills like coding or video editing to soft skills like project management or public speaking.

It’s important to remember that learning a new skill takes time and dedication. Start small, practice consistently, and don’t get discouraged if progress feels slow at first. Every hour you invest in learning a new skill is an investment in yourself and your future income potential.

The best part? Learning a skill can open doors you never expected. Whether it’s advancing in your career, starting a freelance gig, or exploring a passion project, your new skills will always give you more options. You just need to pick a door and walk through it.

Read Books About Money

One of the things that truly changed my views on money was reading books about it. Books give you access to the strategies, habits, and mindsets of people who have mastered financial success. The more you learn about how money works, the more empowered you will be to make smart financial decisions in your own life.

I highly recommend books like The Psychology of Money, The Richest Man in Babylon, Rich Dad Poor Dad, Think and Grow Rich, and The Millionaire Fastlane. Each of these books offers unique insights.

The Psychology of Money explores how your emotions and mindset affect your financial decisions. The Richest Man in Babylon breaks down timeless wealth-building principles in simple terms. Rich Dad Poor Dad highlights the differences in the mindset between the rich and the poor, giving you a clear understanding of how to shift your thinking to build wealth. Think and Grow Rich focuses on the power of mindset and desire in creating success, while The Millionaire Fastlane teaches unconventional methods for rapidly increasing wealth.

But reading isn’t enough—you have to apply what you learn. Take time to implement the lessons from these books into your daily life. For instance, create a budget, start saving and investing, or begin working on a long-term financial plan.

Personally, reading these books has transformed how I approach my finances. I went from thinking about short-term gains to planning for long-term wealth and stability. If you want to take control of your financial future, these books are an excellent place to start.

Start a Side Hustle

I have started many side hustles myself. As an undercover artist on Instagram, I sell merchandise and commission work. I’ve also sold items on platforms like eBay, Mercari, and Amazon, and now, my latest side hustle is this blog!

Your side hustle should be something you’re passionate about, but it should also offer value to others. Think about how your skills or interests can solve problems or meet needs.

How to Get Started:
You don’t need a lot of money or resources to begin a side hustle. Start with something low-cost that requires minimal investment, like freelancing or selling items you no longer need. Platforms like Etsy (for crafts), Upwork or Fiverr (for freelance services), and Shopify (for e-commerce) make it easier than ever to launch your venture.

Balancing with a Full-Time Job:
If you’re working a full-time job, find ways to balance your time and energy. Dedicate evenings or weekends to your side hustle without overwhelming yourself. Consistency is key—small, steady progress will eventually lead to growth.

Monetization Strategies:
Many side hustles start small but have the potential to grow into full-time businesses. Look into monetization strategies like creating digital products, selling online courses, or offering premium services as you build your side hustle.

There are countless side hustles you could pursue, such as web design, selling T-shirts, trading stocks, freelance writing, or even starting an online course. The key is to choose one that fits your interests and strengths, and don’t be afraid to experiment—many side hustles start small and grow over time.

Start a Business

Do you have a problem to solve that could help people? If so, starting a business can be a fantastic way to turn your ideas into income. A successful business is built on providing value by solving a problem, meeting a need, or offering something people want.

Steps to Get Started:

1. Identify a Problem or Need: The best businesses solve a real-world problem. Think about your skills, interests, or expertise—what problem can you solve for others? Whether it’s creating a product or offering a service, focus on how you can provide value.
2. Research Your Market: Once you have an idea, research your target market. Who are your potential customers? What are they looking for, and how can you reach them? Understanding your audience is key to creating a business that meets their needs.
3. Start Small and Test Your Idea: You don’t need to invest a ton of money upfront. Start with a minimum viable product (MVP) or service and test it in the market. This way, you can gauge interest and gather feedback without taking on huge risks.
4. Create a Simple Business Plan: A business plan doesn’t have to be complex, but it should outline your goals, target audience, and marketing strategy. How will you deliver your product or service, and how will you promote it?
5. Leverage Online Platforms: Today, starting a business is easier than ever, thanks to online platforms. You can create a website, sell on marketplaces like Etsy or Amazon, or offer services through platforms like Fiverr or Upwork.
6. Scale Over Time: As your business grows, reinvest in it. This could mean expanding your product line, improving customer service, or investing in marketing. Keep refining your process as you gather more experience and customer feedback.

Be Prepared for Challenges:

Starting a business is rewarding, but it also comes with challenges. Stay flexible and be willing to learn along the way. Every setback is an opportunity to grow and improve.

Create Passive Income Streams

IImagine earning money in your sleep or while hanging out with friends. That’s the power of passive income! While it may not be truly ‘passive’ at first, passive income streams can provide consistent earnings once you put in the upfront work.

What is Passive Income?

Passive income is money you earn with minimal ongoing effort after the initial setup. It could come from investments, automated businesses, or digital products that continue to sell over time.

Examples of Passive Income Streams:

1. Invest in Real Estate: You can earn passive income through rental properties, real estate investment trusts (REITs), or platforms like Fundrise that allow you to invest in property without directly managing it.
2. Dividend Stocks: Invest in dividend-paying stocks, which give you a portion of the company’s earnings regularly. With the right investment strategy, dividends can create a reliable income stream.
3. Create Digital Products: If you’re skilled at creating things like eBooks, online courses, or design templates, you can sell them on platforms like Gumroad, Udemy, or Etsy. After the initial effort, these products can sell indefinitely with little to no additional work.
4. Affiliate Marketing: By promoting other companies’ products or services on your blog, YouTube channel, or social media, you can earn a commission on every sale made through your unique affiliate link. This requires consistent traffic but can pay off over time.
5. Peer-to-Peer Lending: Platforms like LendingClub or Prosper allow you to lend money to individuals or small businesses and earn interest on your loans.

How to Get Started:

1. Pick the Right Stream: Start with a passive income stream that aligns with your interests or existing skills. For example, if you enjoy writing, creating an eBook or course could be ideal.
2. Set Up Systems: While passive income requires upfront work, it’s crucial to automate as much as possible. Whether it’s automating sales processes or investing in long-term assets, building the right systems will keep your income flowing.
3. Be Patient: Passive income is not an overnight success story. It may take months or even years to build a steady flow of income. However, once the work is done, it can provide financial freedom.

Why It’s Worth It

Creating multiple passive income streams can reduce financial stress, allowing you to focus on other goals or ventures. Diversifying your income also provides a safety net if one stream experiences a downturn. With effort and time, passive income can truly pay off and give you more freedom in life.”

Network and Build Relationships

I actually started this blog because I met someone who runs a successful blog! Meeting the right people can bring fresh perspectives to any endeavor, and being around those who have achieved success can shift your mindset to ‘If they can do it, so can I.’

Building a network of like-minded individuals not only provides motivation but also gives you access to valuable resources, knowledge, and support. Your network can become a go-to for advice, collaborations, and opportunities that you may not have access to on your own.

Why Networking Matters:

1. Learn from Others’ Experiences: By connecting with successful people, you can gain insights from their successes and mistakes. This can save you time and help you avoid potential pitfalls in your own journey.
2. Create Opportunities: Networking can lead to partnerships, collaborations, and even job offers or business deals. The more people you know, the more doors can open for you.
3. Support System: Whether you’re facing challenges or need advice, having a strong network provides a support system that can help you stay on track.

How to Start Building Your Network:

1. Attend Events: Start by attending networking events, workshops, and industry conferences related to your field. This gives you a chance to meet people who share your interests and goals.
2. Engage Online: Use social media platforms like LinkedIn, Twitter, and Instagram to connect with influencers and peers in your industry. Participate in discussions, comment on posts, and share valuable content to start building relationships.
3. Reach Out Directly: Don’t be afraid to reach out to people whose work you admire. A simple message or email expressing your interest in learning more about their journey can open the door to meaningful connections.
4. Provide Value First: Networking is a two-way street. Look for ways you can provide value to others before asking for help. Whether it’s offering feedback, sharing resources, or helping solve a problem, building trust and reciprocity is key.

Keep Nurturing Relationships:

Networking isn’t just about making a connection and moving on; it’s about building long-term relationships. Regularly check in with your network, offer support when needed, and celebrate their successes. The stronger your relationships, the more valuable your network becomes.”

Take Advantage of Tax Benefits

One unfortunate reality is that most schools don’t teach about money or taxes, leaving many of us unprepared for the financial world. Taxes can be complex, but understanding how to use tax benefits can save you thousands of dollars every year and significantly boost your financial success.

Why Understanding Tax Benefits is Important:

The tax system is designed to encourage certain behaviors—like saving for retirement, investing, and buying a home—by offering tax deductions, credits, and other incentives. By taking advantage of these benefits, you can reduce your tax liability and keep more of your hard-earned money.

Key Tax Benefits to Know About:

1. Retirement Account Contributions:
   One of the most effective ways to reduce your taxable income is by contributing to retirement accounts like a 401(k) or an IRA (Individual Retirement Account). Contributions to traditional retirement accounts are often tax-deductible, meaning you won’t pay taxes on that money until you withdraw it in retirement. Roth IRAs, on the other hand, allow for tax-free withdrawals in retirement because you pay taxes upfront.
2. Health Savings Account (HSA):
   If you have a high-deductible health plan (HDHP), you can contribute to a Health Savings Account (HSA). HSAs offer a triple tax benefit: contributions are tax-deductible, the money grows tax-free, and withdrawals for qualified medical expenses are tax-free. This makes it an excellent tool for saving on healthcare costs while reducing your taxable income.
3. Tax Credits for Education:
   If you or your dependents are pursuing higher education, there are tax credits available that can help offset the cost of tuition and other expenses. The American Opportunity Tax Credit (AOTC) allows for a credit of up to $2,500 per eligible student, while the Lifetime Learning Credit (LLC) offers up to $2,000 for education-related expenses.
4. Child Tax Credit:
   Parents can benefit from the Child Tax Credit, which offers up to $2,000 per qualifying child. This credit directly reduces the amount of taxes you owe, making it highly valuable for families with children.
5. Earned Income Tax Credit (EITC):
   The Earned Income Tax Credit is a benefit for low-to-moderate-income workers, particularly those with children. It can reduce the amount of tax owed and may result in a refund. Be sure to check if you qualify based on your income and family size.
6. Homeownership Tax Deductions:
   Owning a home can provide several tax benefits, including deductions for mortgage interest and property taxes. If you itemize deductions on your tax return, you can claim these expenses to lower your taxable income.
7. Business and Self-Employment Deductions:
   If you own a business or have a side hustle, there are numerous deductions available that can help reduce your tax burden. These include deductions for home office expenses, equipment, travel, and even a portion of your utilities. Be sure to keep thorough records of your business expenses to maximize your deductions.

How to Take Advantage of Tax Benefits:

1. Start Early: The earlier you start planning for taxes, the more benefits you can take advantage of. Make sure you contribute to retirement accounts throughout the year, track education expenses, and stay organized with receipts for deductible expenses.
2. Consult a Tax Professional: If taxes feel overwhelming, consider consulting a tax professional or financial advisor. They can help you identify tax benefits you might not know about and ensure you’re taking full advantage of deductions and credits.
3. Stay Informed About Changes: Tax laws can change from year to year, so it’s important to stay informed about any updates that could affect your eligibility for certain benefits.

Understanding and taking advantage of tax benefits is one of the smartest ways to optimize your financial situation. The more you know about taxes, the more money you can keep in your pocket each year.

Navigating the path to financial success can seem daunting, but with the right strategies and a proactive approach, you can set yourself up for long-term prosperity. By adopting an abundant mindset, leveraging tax benefits, investing wisely, and continuously learning, you’re already on the right track. Remember, building wealth is a journey that requires patience, discipline, and ongoing effort. Use the tips in this guide to take charge of your financial future, and keep exploring new opportunities to grow and succeed.