Partner content

With good planning, you may find yourself at the end of the financial year with a surplus from your investing budget. In that case, the best thing to do is to use it for extra earnings. Below you can find three ways to make the most of your extra money.


One of the best strategies is to reinvest that surplus to diversify your assets and enter new markets or sectors. 

There are two main ways of approaching this strategy. First, you can use the money as a safety net, investing in low-risk assets for long-term gain. Bonds are a great way to do this. If you prefer a passive management approach, look at mutual funds or ETFs. If you want to go for something riskier, consider looking into CFDs, or high-risk stocks and shares. Outside of that, trading currency still remains a popular option. Most of the best UK forex brokers, such as the ones listed on Investing Reviews, will have these. Take your time, do your research and choose the best platform for you. 

Pay off debt

For many people, debt is part of their life. Money comes and goes, and sometimes it must be loaned. However, debt plays a huge role in how your finances are viewed by others. Your debt-to-income ratio is a factor considered when you apply for a mortgage. By reducing this, you will have a better financial outlook in the eyes of lenders.

Debt also accrues interest, which cuts into both your long and short-term finances. Therefore, you should look at debts that have high-interest rates, such as credit cards, and pay the debt off as much as you can. 

Some debts, such as mortgages, may have fees if you pay them back early. Take these into account, as it may not be worth paying them off in some cases. 

Establish a passive income business

Passive income businesses generate money without you having to do much at all. There are lots of options out there, but most need an initial investment, either in terms of time or money. However, once up and running they take minimal effort to yield some profit. 

One option would be to create a course or e-book. But you do not have to do this yourself. You could hire a ghostwriter or creator to do it for you. This can then be sold on your website, or on platforms like Udemy and Coursera, although they will take a cut.

Another idea is to open a blog or website. You could monetise it via advertising and affiliate marketing, although it may take up to 9 months to start making a profit. You would need to cover the initial costs to set it up, but then you could hire people to create content for you.

Before deciding, weigh the pros and cons of all the options. Take into account things like time commitment, growth potential, the risk you’re willing to take and immediate priorities. With a clear picture, you’ll be able to choose the most suitable path for you to see your money grow.