In personal finance, it’s often said that you must learn how to spend money to make money. While that might sound like a risky philosophy at first, there’s truth behind it—especially when it comes to how you manage and invest in your home. Your home isn’t just where you live; it’s likely your biggest asset. When approached wisely, the money you spend on your home and personal assets can generate returns in the form of savings, security, and even direct income.
For instance, investing in high-quality home improvements or upgrading appliances can lead to lower utility bills and an increased property value. Similarly, spending money on proper insurance now can prevent devastating financial loss later. Even less obvious expenditures—like purchasing a dog kennel or refinancing your mortgage—can add up to significant long-term gains. And don’t overlook the hidden money in your home: unused electronics, collectibles, or tools you no longer need may be turned into quick cash through the right channels.
This article explores ten practical, actionable tips on how to spend money to make money in ways that either protect your finances or generate income. These aren’t get-rich-quick schemes—they’re sustainable financial strategies designed to help you build a more secure and profitable future. Whether you’re downsizing your home, selling old possessions, or making smart insurance choices, these tips will help you make your money work for you.
1. Rehome Old Electronics

When was the last time you opened your junk drawer or closet and found an old smartphone, tablet, or laptop just sitting there? Technology evolves quickly, and most people upgrade their gadgets every few years, leaving older—but still valuable—items collecting dust. If you’re looking into how to spend money to make money, consider profiting from money you’ve already invested.
Choosing to sell used electronics is one of the easiest ways to make some extra money. Many devices, especially those from popular brands like Apple, Samsung, and Sony, retain significant resale value even after a few years. If they’re in good condition and still functioning, you can list them on platforms like eBay, Facebook Marketplace, or specialized electronics resellers. Even broken devices can be sold for parts.
The benefit isn’t just financial—decluttering your home can make your space more efficient and enjoyable to live in. By freeing up space and turning unused devices into cash, you’re creating both a cleaner home environment and a small financial cushion. Use the money to pay down debt, invest, or fund other improvements that will serve you better in the long run.
2. Invest in Your Future
Home insurance is often seen as a necessary evil—a recurring expense that you hope you’ll never actually need. But viewing it as an investment rather than a cost can change your perspective. Learning how to spend money to make money includes investing in various types of insurance to prevent future expenses. When disaster strikes, the financial protection offered by a robust home insurance policy can be lifesaving.
Imagine a fire, flood, or severe storm damaging your home. Without insurance, you could be on the hook for tens or even hundreds of thousands of dollars in repairs. In worst-case scenarios, you could lose your home entirely with no financial support to rebuild. That’s why choosing the right home insurance policy is essential. A good policy doesn’t just protect your house; it safeguards your financial future.
When choosing home insurance, look beyond the monthly premium. Consider what’s covered, the deductible amount, and how claims are handled. Spending a bit more on a comprehensive policy can save you thousands in the event of an emergency.
3. Assess Legal Needs
If you own a vehicle, insurance isn’t optional—it’s the law in most places. But beyond legality, vehicle insurance is a crucial financial tool that protects you from potentially devastating costs.
Accidents, theft, hail damage, or vandalism can result in major repair bills. Without insurance, you’d have to pay out-of-pocket for repairs or even a replacement vehicle. That’s not just a financial burden—it’s a major life disruption, especially if you rely on your car for commuting, childcare, or work.
Spending money on a well-rounded vehicle insurance policy can save you thousands down the line. Knowing how to spend money to make money means understanding these important details. Comprehensive coverage may cost a bit more each month, but it covers a wider range of risks. Look for policies that offer roadside assistance, rental car reimbursement, and accident forgiveness—these added features can provide value far beyond the premium.
It’s also worth shopping around. Many people stick with the same insurer for years out of convenience, not realizing they could save by comparing quotes annually. Spending time and money now on the right coverage is a smart investment in your mobility and financial security.
4. Declutter Your Collections

Do you have old coins sitting in boxes, jars, or drawers? Coin collections—whether carefully curated or accumulated randomly over the years—can hold surprising value. This is another situation where knowing how to spend money to make money can help you benefit from past purchases. Precious metals, rare mintings, or even coins with printing errors can be worth far more than face value.
Selling these coins can provide a quick influx of cash while also decluttering your home. Many coin shops, online marketplaces, and collectors are eager to purchase unique or rare pieces. Some coins may even appreciate over time, so it’s worth researching before selling.
Before you take your collection to a buyer, do a little homework. Identify which coins are rare or potentially valuable using online databases or coin valuation guides. Then, get quotes from multiple buyers to ensure you’re getting a fair price. If your collection is extensive, consider having it professionally appraised. Getting cash for coins is a quick and easy way to pad your bank account while decluttering your home.
The money earned can be reinvested in your home, used to pay bills, or saved for future emergencies. You’re not just turning clutter into cash—you’re making an intentional financial move.
5. Consider Refinancing Your Loans
One of the most powerful ways you can learn how to spend money to make money and save in the long term is through refinancing your mortgage loans. If your current mortgage has a high interest rate, refinancing to a lower rate can result in substantial savings over the life of the loan. This process involves paying certain upfront costs—like appraisal fees and closing costs—but the long-term benefit often outweighs these short-term expenses.
Let’s say you shave 1% off your mortgage interest rate—on a $250,000 loan, that could save you more than $30,000 over 30 years. That’s money that can go into retirement savings, home improvements, or simply improving your monthly cash flow.
You can also explore different types of refinancing, such as switching from a 30-year to a 15-year term (to pay off your loan faster) or consolidating debt through a cash-out refinance. Each option has its pros and cons, but all of them can contribute to greater financial flexibility if used wisely.
Just be sure to compare lenders, understand fees, and consider whether you’ll stay in your home long enough to benefit from the savings.
6. Research Affordable Options
Paying too much for insurance is one of the most common ways people waste money. Yet, many consumers never shop around or reevaluate their coverage needs. Affordable home and auto insurance can offer the same—or better—protection than more expensive policies if you know what to look for. Learn how to spend money to make money by purchasing inexpensive subscriptions or research materials in order to educate yourself on future spending.
Start by identifying exactly what coverage you need. Are you over-insured? Underinsured? Do you have redundant policies that could be bundled for savings? Insurance providers often offer discounts for bundling home and auto policies, installing safety features, or maintaining a clean driving record.
Take the time to get quotes from multiple providers, or use a broker who can compare options for you. Look for companies with solid reputations, responsive customer service, and straightforward claims processes. Spending a little time and effort to find the right policy at the right price can save hundreds (or thousands) per year.
Remember, affordable doesn’t mean cheap. The goal is to find cost-effective policies that still provide full coverage and peace of mind.
7. Use Your Space Wisely

If you own a dog, you know pet care isn’t cheap. Boarding your pet while traveling or hiring pet sitters can quickly add up—especially if you travel often or work long hours. One way to reduce those costs is by investing in a high-quality 8 x 12 dog kennel for your yard or garage. If you know how to spend money to make money, you’ll recognize that this investment will save you thousands of dollars in the long term.
This size kennel offers ample space for most dogs and provides a secure environment for short-term crating. By creating a safe space at home, you avoid the recurring costs of boarding while ensuring your pet is comfortable and protected.
This one-time investment can pay off within just a few uses. Many dog kennels are made with weather-resistant materials, locking mechanisms, and optional insulation, making them a practical long-term solution for pet care.
Additionally, you can use the kennel as a training space or as part of your dog’s daily routine—something that adds structure and can even reduce behavioral issues. This method of knowing how to spend money to make money will truly pay off.
8. Make a Change
Sometimes, the best way to improve your financial situation is by making a big change. If your current home is too large, too expensive, or not aligned with your long-term goals, listing your property for sale may be a smart move.
Learn how to spend money to make money by downsizing to reduce your mortgage, property taxes, utility bills, and maintenance costs. This choice can also free up equity that you can use for other investments, such as a smaller property, a retirement fund, or a business venture.
Selling your property might involve some upfront costs—like repairs, staging, and realtor commissions—but the return can be life-changing. You may find a smaller home that’s better located, more energy-efficient, or better suited to your lifestyle.
In today’s market, where many people prioritize minimalism and financial flexibility, downsizing isn’t a downgrade—it’s a strategic choice. If your home no longer serves your needs or financial goals, it may be time to turn that asset into a fresh start.
9. Ask for Help
Home improvement projects aren’t just about aesthetics—they’re an investment. Whether you’re remodeling a kitchen, replacing a roof, or updating insulation, hiring reputable home improvement contractors can significantly boost your home’s value and reduce future costs.
Projects like energy-efficient windows, HVAC upgrades, or bathroom remodels not only increase your home’s appeal but can also lower utility bills and make your space more functional. Even essential repairs—like fixing plumbing, rewiring electricity, or addressing structural damage—can prevent much costlier problems in the future.
Working with licensed contractors ensures that the job is done safely and up to code, which also helps with resale value. Cutting corners with DIY or hiring unqualified labor may seem cheaper now but often leads to costly fixes later.
Spending wisely on home improvement is one of the best ways to make money in the long term—whether through increased home value, rental income, or savings on energy and maintenance.
10. Look Locally

Need fast cash? Local pawn shops offer a way to sell or loan against valuable items quickly. While it’s not always the best long-term financial solution, it can be helpful in short-term situations—especially if you have items you no longer use.
Jewelry, tools, electronics, musical instruments, and collectibles are common pawnable items. The key is to know the value of your items and negotiate smartly. While pawn shops typically offer less than retail, they also provide the benefit of fast, no-hassle transactions.
If you’re using a pawn loan, make sure you can repay it within the terms—otherwise, you risk losing your item permanently. Used wisely, pawn shops can be a bridge to meet immediate needs or raise money for investments that will pay off later.
Spending money isn’t inherently bad—it’s how you spend that makes all the difference. The ten strategies outlined in this article show that investing in your home, personal assets, and financial protection can lead to long-term gains. Whether it’s through selling unused electronics, refinancing your mortgage, or purchasing a quality dog kennel, every decision can be an opportunity to strengthen your financial future. Think of your money as a tool—not just to meet your needs today but to build stability, security, and growth for tomorrow.