“Make your money work for you” is such common personal finance advice that it borders on being cliché.
But what does it actually mean? And more importantly, how can you do it?
We spoke with Sean Gould, a wealth strategist with Waddell and Associates and a certified financial planner, to outline six ways to put your money to work.
Choose credit cards with rewards you'll actually use.
Using a credit card might not feel like putting your money to work, but choosing a card with rewards appropriate for your lifestyle (read: airline miles cards aren't great for people uninterested in travel) means each dollar you spend on your cards is doing double duty.
'As a financial planner, we don't like debt, but if you have the cash flow and predictability in your budget and you can pay off your bill every month, there are great credit cards out there,' says Gould. (See some of the best credit cards for every lifestyle.)
If you have credit card debt, this strategy isn't for you -- the key to making your money work with your cards is being able to pay off your bill in full every month.
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