Best Ways to Make, Save, and Grow Money

Improving Personal and Business Finances 1) On a Budget and 2) With Capital to Invest

The tables below lists ways to earn and save with little or no money to work with. After successfully implementing these ideas, you’ll soon have extra money!  At that point, you should continue to earn, save and grow on a budget. But with time and discipline, you can also invest in high return activities to help save and grow money. The second column adds ideas for investing in order to earn or save more money.

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Increasing The Bottom Line with Revenue Growth and Expense Reduction

To think about how to better your financial position, you can simply use the profit equation where profit equals revenue minus expenses. We should apply this equation to your personal finances and your business if you have one. So what’s most important, revenue or expenses? Take a look at this article for a discussion on whether it is better to focus on revenue or expenses. An intermediate goal is to excel at one AND be competent in the other. The ultimate goal is to master both.

Check the personal list for ideas that also apply to business such as buy real estate, save on energy, reduce rent or invest in maintenance.

Business Finances	On a Budget	With Capital to Invest
Increase Revenue	Refine sales staff incentives Optimize sales processes Re-allocate marketing Capture testimonials Capture great reviews Build a referral system Drive repeat business Increase collections Offer pricing incentives Up-sell Cross-sell Sell maintenance Sell subscriptions Sell VIP services	Advertise Acquire a related business Invest in sales processing Invest in customer experience Invest in new offerings Invest in brand Invest in capacity Upgrade or repair equipment Invest in high ROI tools or software Invest in processes Automate Delegate Incentivize/hire
Decrease Expenses	Incentivize staff to save Repair equipment Optimize sourcing Optimize roles Reduce space requirements Eliminate tasks Reduce waste Minimize rework Optimize travel	Reduce CAC (Customer Acquisition Costs) Vertically integrate Increase volume / overhead utilization Upgrade or repair equipment Invest in high ROI tools or software Invest in processes Automate Delegate Incentivize/hire

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Taking it to the Next Level

Below, we’ll go to the next level of ideas on two fronts. The first is mundane, but can be impactful and immediate. It falls in the category of decreasing expenses – energy and water.  The second is fun to consider but requires more thought and inertia. It falls in the category of increasing income – side hustles.

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Improving Your Bottom Line with Energy and Water

These ideas for reducing fuel and utility costs apply to both personal and business settings.

Save Water  … on a Budget

… with Capital to Invest

Monitor your water bill for unusually high use Water plants early in the morning to avoid evaporation from heat Use mulch in gardens to minimize evaporation and reduce weeds Weed your lawn since weeds compete with other plants for nutrients, light and water Apply the minimum amount of fertilizer needed since fertilizers increase water consumption Start a compost pile. Using compost in your garden or flower beds adds water-holding organic matter to the soil Leave lawn clippings on your grass, this cools the ground and holds in moisture Aerate your lawn periodically. Holes every six inches will allow water to reach the roots, rather than run off the surface Reuse any water you can for watering house plants (water used to rinse or cook vegetables, water from pets’ dishes, dropped ice cubes, etc) Before dumping any water down the drain, ask yourself if it can be reused Sweep sidewalks and driveways instead of using a hose Avoid recreational water toys that require a constant flow of water Be a leak detective indoors and outdoors checking faucets, showers, toilets, under sinks, garbage disposals, pipes, hoses, sprinklers Toilet leaks can be silent so test your toilet for leaks at least once a year by putting food coloring in your toilet tank and see If it seeps into the bowl without flushing Soak pots and pans instead of letting the water run while you scrape them clean Fill basins when washing dishes (or large cooking pots that need to be soaked) for scrubbing and rinsing Use only one glass or water bottle during the day to cut down on washing Soak pots and pans instead of running water while scraping them Keep cold water in the refrigerator instead of running the faucet until the water is cold Dishwashers typically use less water than washing dishes by hand If your dishwasher is new, cut back on using the extra rinse feature Only run the dishwasher when full Use the garbage disposal sparingly and start composting Wash your fruits and vegetables in a pan of water instead of running water Don’t use running water to thaw food Keep a pitcher of drinking water in the refrigerator instead of running the tap Reuse leftover water from cooked or steamed foods to start a nutritious soup Cook food in as little water as possible to retain more nutrients Select the proper pot and pan size for cooking Match the water level to the size of the laundry load Better yet, only do full loads of laundry to save energy also Cut down on tossing lightly worn, clean clothes in the hamper Reuse towels instead of washing them each time they are used Washing dark clothes in cold water saves water and energy, and helps your clothes retain their color Time your showers and keep them under five minutes versus long showers or baths Turn the water off while you lather While you wait for hot water, collect the running water for other uses Take cold showers and you’ll probably take care of the last three suggestions, plus save on water heating (and curb inflammation)When running a bath, plug the bathtub before turning on the water. Adjust the temperature as the tub fills Plug the sink instead of running the water to rinse your razor and save up to 300 gallons a month Turn off the water while washing your hair Turn off the water while you soap up your hands, every gallon counts Turn off the water when brushing your teeth Teach children how to conserve water and to close faucets tightly Do not use water toys that require a running hose to be on constantly Drop tissues in the trash instead of flushing them and save water every time Avoid single use, disposable items (they require a lot of water to make

Next time you add or replace a flower or shrub, choose a low-water-use plant Replace lawns with native drought-tolerant plants Collect water from your roof by installing gutters and downspouts and direct the runoff to plants and trees Install a rain catch system Spreading a layer of organic mulch around plants helps them retain moisture, saving water, time and money Invest in Energy Star dishwashers to save water Invest in Energy Star washing machines to save water Replace the showerhead with a Water Sense® labeled model If your toilet flapper doesn’t close properly after flushing, replace it A WaterSense® labeled toilet can reduce the amount of water on each flush Consider buying a dual-flush toilet

Save Energy  … on a Budget

… with Capital to Invest

Turn off the lights when leaving the room Use power strips for electronics as electronics often use power even when not in use Get your home evaluated for a solar lease or financing program to see if you can save or fix energy bills with no investment Keep the refrigerator between 36 and 38 F and the freezer at or near 0 F Digital clocks on stoves, microwaves, and appliances can often be turned off Turn off stove burners a little early when cooking with boiling water since the water will retain its heat for a time and continue to cook Cook food with lids on the pans to keep heat in Wash clothes in cold water Clean the lint screen every time you use the dryer Do laundry on sunny days and dry clothes on a clothesline To conserve heat, leave shades open during daylight hours and closed at night Use a thermostat to let the temperatures in your house drop when you are away Use fans and ceiling fans in addition to air conditioning to help cool the home Put on a sweater before increasing the temperature in the home Have the filter in your furnace replaced regularly Close fireplace and wood stove dampers when not in use to avoid air flow Turn your hot water heater down when you will not be using it for a while Set your hot water heater thermostat at a temperature such that when you shower, you do not need to add cold water

Replace older light bulbs with LED bulbs Seal air leaks around doors and windows with weather stripping and caulking Repair leaks in ductwork Use a Kill-A-Watt: a hand-held device used to measure the energy usage of appliances Investing in solar electric panels Invest in solar hot water heating Evaluate more efficient water heaters Invest in Energy Star dishwashers to save energy Invest in Energy Star washing machines to save energy Replace inefficient appliances such as microwaves, refrigerators and ovens with energy-star appliances

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Side Hustles Ideas

There can be various parameters that define a side hustle. For the purposes of this article, here is how I define side hustle.

• A side hustle can be something you start or acquire
• Side hustles might supplement your income or be your primary income source
• A side hustle is NOT where you spend the most time (otherwise it would be your main hustle)
• It’s also not passive investing in stocks, real estate, coins, tc (low hustle, thus passive) 
• A side hustle is not a job or second job you hold as an employee

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A Word About Best Side Hustle Lists

I don’t like “Best Side Hustle” articles because they may lead people astray or drive them into highly competitive situations. Side hustles can be as limitless as personalities, so what is a “best side hustle” really?

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Horrible Side Hustles

Side hustle ideas that are not unique, feel like a job, or not worth the money will be left out of my list. Not that these aren’t valid endeavors, but you probably don’t need these on a list that is supposed to inspire you.

• Taxi (Lyft, Uber, etc)
• Food, grocery or package delivery driver (UberEats, GrubHub, Domino’s, Instakart, Amazon Flex, etc)
• Anything that works out to less than minimum wage
• Rent out a room (not scalable, not appealing to most people)

Some of the side hustle ideas you will find on best side hustle lists online on YouTube are super-unique or are not right for most people. Many side hustles may be fun for spare change but not real income.

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Great Side Hustles

I love side hustles that pack a punch with compound benefits:

• side hustles that can be combined with another passion like food blogging (bold)
• side hustles that can be combined with travel opportunities like travel YouTuber (bold)
• side hustles that are virtual or relocatable (each has its own section in the table)
• sharing economy side hustles that optimize resources (green)
• side hustles that are a spin-off of your day job without violating your employment contract
• Side hustles that capitalize on your strengths

While side hustles relate to personal finances, some of these ideas may spark innovation, product or service expansion, or pivots in a business setting. 

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Side Hustle Starter List

While not every side hustle will resonate with you, the key is to find inspiration. Eventually, your side hustle needs to be differentiated to take off.  The world is your oyster! Choose wisely.

Virtual online, anywhere, anytime, and relocatable	Online Tutor or coach Virtual assistant Freelancer E-commerce drop shipper Develop online courses Develop e-products Writer / Editor Blogger Podcaster YouTuber Create arts, crafts, cool stuff
Relocatable in-person -or- space is required but address is irrelevant -or- customers and referral sources are not localized	In-person tutor or coach E-commerce and fulfillment Personal trainer Actor or model Traveling personal chef House-sitter Photographer / Videographer On site makeup & hair for events
Location Dependent considerable time and/or money to relocate -or- high loss of revenue, referrals and momentum upon moving	Pet or Baby Sitter Baker / Caterer / Meal Prepper Handyman or Tasker (TaskRabbit) Mower / Landscaper  Snow Remover Mover / Hauler Flea Market or Thrift Store Flipper Pressure Washer Tree Stump Grinder Home Stager or Decorator Vending Machine owner Rent stuff: tools, car seats … Rent vehicles: cars, campers … Rent space: garages, driveways Food / History / Hiking Tour Guide

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Side Hustle Next Step

If something on the list sparks your interest, Google the phrase with “side hustle” behind it and you will get plenty of ideas on how it’s done, how to get started, and relevant services or platforms that connect freelancers to clients. There are some great content creators dedicated to helping aspiring hustlers including Side Hustle Nation and Side Hustle School.

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