The Four Best Uses of Money

Which is better a public or private college?

Besides the essentials of food, clothing, and basic shelter, what do you do with your money? Do you give it away, save it for purchasing a home, pay for a college degree, or just sock it all away in an investment fund? What are the best uses of money?

The truth for many adults is that they don’t really have a plan for how to handle any extra money that comes into their lives. Once all the bills are paid, they might, unthinkingly, toss a few dollars into a savings account, but that’s it.

Best Uses of Money

Above and beyond your basic living expenses, there are plenty of wise moves you can make with every extra dollar that comes your way. By having a plan, and sticking to it, you’ll be building long-term wealth as rapidly as possible and making your life more secure in the process. Here are the top four ways that smart people use their funds.

Buying a Home

For the majority of adults, their home is the largest single investment they’ll ever have. The value of a house goes far beyond the resale amount that it can fetch on the open market if you were to sell it.

If you own a home, you can borrow against it, add value to it with renovations, live a comfortable life in it, and use it to bolster your credit rating. Putting excess income toward your mortgage, or saving it in order to buy property, is one of the smartest ways to enhance your lifestyle and boost your financial security.


Spending on education is a supremely efficient use of monetary resources. But what if you need a degree but don’t have the ready cash? In that case, it makes good sense to check out this company to take out a student loan. You’ll be getting incredible value for your funds, will have access to reasonable interest rates, and will be enhancing your long-term earning power with an advanced degree or specialized skill.

There’s an old saying, “No one can ever take education away from you.” For centuries, people have relied on the inherent power of their minds to do well in life. Nowadays, this is truer than ever because you can borrow at favorable rates to get the learning you need.

Investments and Insurance

Letting money earn interest is one of the most efficient ways to put it to work. As long as you stick to sound investment principles and diversify portfolios, it’s possible to earn much more than the minimal interest banks pay on standard savings accounts.

In addition to maintaining an investment fund, don’t neglect all the important types of insurance. If you value security, you’ll buy policies on your car, home, life, and health. If you own a business, it’s smart to insure it as well.


There’s a school of thought that charitable giving is not a proper use of money. The good news is that the vast majority of adults realize that giving to reputable charities enhances the strength of any community, helps those in need, and brings inner, emotional rewards to those who donate.

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