How can I use the money I have to make more?

[shakeapoo]

I've been a SAHM for a really long time. Now I'm going back to work but my wage is barely more than the childcare costs. I've always had savings that I've used as backup but instead of just continuing to use them until there is non left I want to invest or use them in some way to generate more income. The problem is I'm crap with finances and I don't have any brilliant ideas to start my own company or anything. So what can I do??

Depends how much you have.

Matched betting

Let's say 25k

How much do you have in savings and what kind of income do you want from it? Do you rent or have a mortgage currently?

Not enough to invest in property & you have no small business ideas then shares &/or matched betting.

I don't really know & that's the problem. I wish I had the brains and ideas to do something brilliant with it but I don't. I just know it could be invested or used in some way better than being sat in the bank, earning no interest with the balance slowly dwindling.

Oh and mortgage

Stocks and shares ISA?

Started investing 30 years ago as a teen. Honestly these days there are just not the returns. We paid our mortgage off early but not as early as we could have but we had mortgage at that peculiar time where a tiny amount of mortgages actually made money. You would usually be wise to pay off your mortgage, what is your marital status and whose name or names are the mortgage in?

I'm unmarried with a mortgage in both our names

...but partner pays mortgage repayments

I should have invested in property years ago but didn't have the balls. I got a lot of money when I was quite young but didn't know what to do with it so just left it/spent it. Wish I had done something clever. Rest is in this house now.

I'd totally rent out my car, didn't know that was a thing!

I'd say matched betting too! Google it, check out the money saving expert forum then look at the TeamProfit website. Mumsnet also has a thread :)

My parents put a similar amount in Premium bonds and won every month sometimes only a small prize but other times they were getting several hundred. Its a safe way to save with the possibility you might win big, not good if you need/want a set amount each month

Definitely matched betting

Use as deposit on a mortgaged interest only buy to let (if you can get the mortgage). Do your sums, can you manage it yourself?

Mix of ISA and higher rate savings accounts and some premium bonds for a thrill. Won't make you a lot but the interest on the Saving accounts will help with the rot.

It won't make you money but if you don't have it I'd get some life insurance held in a trust to benefit the DC (so no IHT on it) It has always reassured me that the DC and their guardian would have money to use if the worst happened.

Pension. Seriously. Do you have one?

If you don't need it in the next 5 years I would consider a stocks and shares isa, maybe drip feeding the money in over a year or so. Lots of people like global index funds which don't require any specialist knowledge to invest in (google passive investing).

Shit no I don't have a pension 😩

I will definitely do more reading on matched betting, anything I can do from home is a winner.