Mount & Blade II: Bannerlord: Best Money-Making Methods from Early to Late Game

Mount & Blade II: Bannerlord does not implement a seasonal system. This article is based on information from the latest stable version v1.2.x branch and beta version v1.3.x branch (as of June 2026).

To rise in Calradia, you need not only strong warriors but also ample funds to support them. Paying your troops, upgrading equipment, and managing your fiefs—all require a solid economic foundation. This game offers three main ways to make money: Caravans, Workshops, and Smithing. Which is best: the stable Workshop, the high-stakes Caravan, or Smithing, which can generate profits that redefine the game's economy? This article thoroughly explains the optimal economic management strategies tailored to your playstyle and game progression.

The Three Major Money-Making Methods: Caravans, Workshops, and Smithing Compared

First, let's compare the characteristics, advantages, and disadvantages of each money-making method. Your choice will significantly impact your playstyle from the mid-game onwards.

Caravans: High-Risk, High-Reward Trading party (use 'warband' or 'party' contextually)s

Caravans are formed by appointing a companion as a leader and assembling a trading party (use 'warband' or 'party' contextually). The initial investment is high, typically 15,000 Denar, or 22,500 Denar for one with a strengthened Garrison. However, successful operations can yield over 1,000 Denar per day. Income heavily depends on the leader's trading skill and is notably unstable. The greatest weakness is the high risk of losing your entire investment if the caravan is captured by an enemy nation during wartime. Operating in peaceful times or regions far from ongoing conflicts is recommended.

Workshops: Low-Risk, Stable Passive Income

Workshop management involves purchasing a city's facilities to earn continuous income as an owner. The initial investment varies with the city's prosperity but typically ranges from 12,000 to 20,000 Denar. While daily income of 200-300 Denar is not as high as a caravan's, its significant stability is a major draw. The key strategy is to match the workshop type with the raw materials produced by nearby villages. For instance, a winery near a village producing grapes, or a pottery shop where clay is abundant. Even if a city falls in war, the workshop remains, making it a low-risk, solid investment.

Smithing: The Ultimate Skill to Dominate Calradia's Economy

Smithing boasts overwhelming profitability that can overshadow other money-making methods if you invest effort and time. With sufficient skill levels and blueprints, you can sell two-handed swords or javelins for tens of thousands of Denar each. While it requires diligent skill progression in the early game, once it gets going, you'll never face financial difficulties. Hiring multiple companions to share tasks like refining and forging will dramatically increase efficiency.

Economic Strategies from Early to Late Game

Effective money-making methods change with game progression. Build your economic foundation strategically with a long-term perspective.

Early Game Principle: Establishing a Foundation with Workshops and Leveling Smithing

Immediately after starting the game, securing a stable source of income is the top priority. Use funds earned from tournaments or bandit hunting to make your initial investments.

Investment Priorities

• Highest Priority: Purchase a Workshop
  Purchase one workshop in an inland city (e.g., an Imperial city) with a stable supply of raw materials, where the risk of war is low. This will be the foundation for supporting your daily troop maintenance costs.
• Second Priority: Hire Smithing Companions
  To level up Smithing, secure 1-2 companions who can perform tasks independently from the protagonist. By using their stamina for refining and forging, you can efficiently develop the skill.
• Third Priority: Dispatch a Caravan
  If you can hire a companion with high trading skill (such as a "Wanderer") and have available companion slots due to increased Clan Tier, it might be worthwhile to try dispatching one caravan. However, be prepared to disband it immediately if a war breaks out.

Fastest Way to Earn with Smithing: Early Game Steps

1. Acquire Hardwood: First, travel to cities in Battania (e.g., Marunath, Seonon) and buy large quantities of inexpensive "Hardwood."
2. Refine Charcoal: At any city's smithy, use two Hardwood to refine one "Charcoal." Simply repeating this will efficiently increase your Smithing skill.
3. Smelt Weapons: Smelt unwanted weapons acquired from combat to unlock materials like "Crude Iron" and "Iron," as well as weapon part blueprints. Throwing knives dropped by bandits can be particularly efficient.
4. Craft High-Value Weapons: Once a certain number of blueprints are unlocked, move on to crafting weapon categories that sell for a high price. "Two-handed Swords" and "Javelins" are recommended as they tend to yield high sale prices with fewer materials. Continue crafting and smelting to advance your skill level and unlock more blueprints.
5. Sell for High Prices: Once you can craft high-damage, high-performance weapons, their selling price will start to exceed 10,000 Denar per item. At this point, your money-making strategy can be considered well-established.

Mid to Late Game: Scaling Up and Managing Maintenance Costs

Once Smithing is established and you have surplus funds, increase the number of workshops in line with your rising Clan Tier to solidify your passive income. Even with tens of thousands of Denar in income, maintaining a large army and multiple castles and cities incurs substantial upkeep costs. Always be mindful of the "daily income > daily expenses" balance, and reinvest funds earned from Smithing into strengthening your military and developing your fiefs. This is the path to becoming the ruler of Calradia.

Specific Earning Methods: Recommended Trade Routes and Workshop Locations

To succeed with caravans, personal trading, and workshop management, understanding regional specialties and price differences is crucial. Here are some examples.

Examples of High-Profit Trade Routes

While caravans trade automatically, this information can serve as a reference for when you, the player, engage in trading. Prices constantly fluctuate, so these are merely guidelines.

How to Choose a Workshop That Won't Fail

The key to maximizing workshop profits is "raw material supply." Hover over a city to see the villages supplying goods to that city. Check the village's specialty products and choose a workshop that matches them.

• Villages rich in Grain, Grapes, Olives → Breweries, Wineries, Oil Presses
• Villages rich in Clay, Iron Ore → Pottery Shops, Smithies
• Villages rich in Wool, Cotton, Flax → Wool Weavers, Velvet Weavers, Linen Weavers
• Villages rich in Raw Hides → Tanneries

Large cities, especially those in the Imperial heartlands, where diverse materials gather from multiple villages, tend to generate profits from many types of workshops.

Summary

The optimal economic management strategy in 'Mount & Blade II: Bannerlord' varies depending on the player's situation, but the basic strategy is as follows:

1. Early Game: First, purchase one "Workshop" in a safe city to establish a foundation for stable income. Simultaneously, begin leveling up your "Smithing" skill with inexpensive hardwood.
2. Mid Game: Once you can craft high-value weapons through Smithing, make that your primary source of income. As funds become abundant, increase the number of workshops in line with your rising Clan Tier, or dispatch "Caravans" to diversify your income streams.
3. Late Game: With Smithing, funds become virtually unlimited. Use this immense wealth to assemble the strongest army, conquer cities and castles, and aim for the unification of Calradia.

In conclusion, Smithing is ultimately the most profitable method. However, skillfully utilizing the stable income from "Workshops" and supplementary income from "Caravans" during the progression to reach that point is a testament to a great lord's prowess. Use this guide to build your own economic empire.