Make Your Money Work - concept #11

It's wise to make your money work for you. Savings accounts, stocks, bonds, collectibles, gold, real estate and other investment vehicles are all examples of how your money can be working for you. Out of all these choices, many people have resorted to stock trading, since it is worldwide and effects so much of our lives.

Regardless of your approach, good investments require good information and good decision-making, so don't rush into it. Investments have risks, so think things through clearly.

Other ways that your money can work for you is to invest in tools and equipment.

This is a good investment strategy if the tools and equipment can help you make more money. A contractor building or remodeling homes is an example of a business that invests money in special tools and equipment to make more money at a skilled trade.

I invest in tools and equipment so I can do work on my own instead of hiring a contractor. After I don't need the tools or equipment anymore, I'll sell them to recoup all or most of my investment.

I've heard of people who buy heavy equipment and create their own informal rental business to pay for the equipment and make a modest return as well.

Spending money for health care is another way to make your money work for you. If you aren't healthy, then you won't be around to enjoy what money you have accumulated. Think of spending on your health as a great investment. It supports quality of life as well as longevity.

Everyone has their own comfort zone for investments, so make certain that whatever you're doing is comfortable for you. Investing often means you're putting your money at risk, so make certain that the risks are reasonable and minimized, and you're not putting so much of your wealth at risk that losing the principal will upset your financial applecart.

Done with Make Your Money Work, back to The Money Game

There certainly is a broad scope of topics here at Frugal Living Freedom. When you think about it, money permeates so very many activities in our lives, therefore, being frugal encompasses a wide range of interests, from being employed to taking a vacation, and just about everything in between. Enjoy the variety, pick up some new ideas, and start making frugality a part of your signature.

I'm a big proponent of being debt-free, and I mean entirely debt-free - no mortgage payment. It's not essential for financial freedom, but you'll love the feeling once you get there. If you didn't have a rent or mortgage payment, how much more could you do for yourself with your current level of income? I suspect plenty.

If you ever hope to see an abundance of wealth, you need to plug the hole in your boat. The wealthy don't necessarily make lots of money, instead, they know how to hang onto what they make, and make it work for them.