It’s not the worst thing to look at your bank balance and see a bunch of cash. Indeed, that’s what all of us are hoping for every time we fire up our banking app. However, while seeing that money is a good thing, it may not be the best thing. Essentially, if you want your money to go as far as possible, then you should be looking to put it to work elsewhere. Below, we take a look at nine smart places for your money.



Wow, we’re starting with spending money on yourself? Nice. OK, it’s not quite as clear as that. We’re not suggesting that you buy yourself that gadget that you’ve been longing for months on end. We’re talking about investing in yourself. What does that mean, exactly? It could be enrolling in a course that’ll make you qualified for better-paying jobs. It could be buying books on leadership, or starting a business. It could even be taking a trip; though not one that involves just lying on the beach, we mean attending conferences, trade shows, and so on. Spent this money correctly, and it’ll come back to you eventually.

A Robo-Advisor

Wouldn’t it be nice if you could grow your money without doing, well, anything at all? Well, hold your horses, because this might be an option after all. In recent years, there have been plenty of “robo-advisor” websites popping up. What these sites do is this: you make a deposit of cash, and they automatically invest your cash in growth areas. You’re not going to become a millionaire this way, but it will lead to a modest return on your investment. And that’s all without doing anything at all.

Pick Your Own Investments

Robo-advisors are a good option for people who have little knowledge of investing. They’re a way to get into the game in a risk-free way. There is another option, however: doing it yourself. This comes with added risk, of course, because there are fewer guarantees than when you’re working with more experienced/robotic advisors. However, the rewards can be greater. And there’s no magic bullet or secret to investing well: it’s just about having the right information to hand. There are plenty of websites and books that can help you get your career underway. Start small, pick smartly, and you never know where it’ll lead.

Paying Down Debt

There is little point investing your cash if you’re already carrying vast amounts of debt. Why? Because any of the profits you make will be wiped out by the interest, you’re paying on those debts. As such, it’s often much better to pay down any high-interest debt before you get too deep into thinking about other ways to spend your money. The success of your other investment will seriously be compromised if you’re still lugging around mountains of debt. It’s all uphill once you become debt-free!

The Future

We’re living in interesting times, and especially so when it comes to investing. While traditional investing is still a viable option, more and more people are moving towards cryptocurrencies like Bitcoin, which, more likely than not, are going to be “the future” of currencies. And good news: anyone can start investing in the currency. If you don’t know much about Bitcoin, read online about how to enter the game. It’s a financial area that is becoming increasingly popular with investors; you don’t want to be the person who gets left behind.

Your Retirement Fund

You’d like to have more money now, but at least you have a job and can afford the odd luxury here and there. In the future, this might not be the case. We’re talking specifically about retirement. Studies have shown that Americans vastly underestimate how much they’re going to need for their retirement, and this means that many are going to grow into old age and be in financial difficulties. It is never too early to start putting money away for your retirement. Calculate how much you’ll need, start making payments, and you’ll be able to rest secure in the knowledge that you’re going to be OK in the future.


If you have some money tucked away, want to invest, and want to help people achieve their dreams at the same time, then consider peer-to-peer lending. Under this system, you’ll give a set amount of cash to an individual, who will later pay back the money with a small amount of interest added on top. The returns can be small, but it’s a good way to invest your cash in a hands-on way.

Your Children

Children are the future, as they say. And your children are YOUR future. You can’t expect your children to one day really pay back everything you’ve given them; you invest in your children for their sake, not yours. Still, there is some security that comes from being part of a successful family. With the cost of college increasingly expensive, you’ll want to get saving for their college fund as soon as possible.

Setting up a Side Income

Did you know that it’s possible to make money from home? It is! And what’s even better than having the option of setting up a side income while wearing your pyjamas is that you can usually do it with next to no money. If you have, say, $500 sitting in your bank account, you’ll be able to get a side project up and running. There are a million and one ways to make money from home, including setting up a blog, renting out a spare room, and so on; choose one that fits with your lifestyle and skills, and wait for the money to start rolling in.

Final Thoughts

It’s not a good idea to let your money just sit there in your bank account, especially when you can put it to good use! Select the option – or options – above that will work best for you, and that small amount of cash could become a substantial amount of cash.

Greg Kononenko
Greg Kononenko

My name is Greg Kononenko and I am a full-time online blogger and owner of Dad's Hustle. I'm a dad, and my passion is to help other mums and dads to start their own "hustle" and improve the financial future of their families.

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