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a. the mines are crazy profitable
b. sometimes the ore needed can be tough to find, so I need to burn through many floors to get what I need.
to me that means fixing the hoe "pays" for itself quickly and then pays for the other upgrades
using this method I was often able to upgrade my watering can the same day as the hoe.
I'm not sure how profitable mining is, because Gus is constantly telling me how useless ores are until he refines them. For an extremely high price. I haven't tried profiting from mining yet, because I can't find anyone who'll buy ores for more.
I find fishing and farming extremely profitable. Carol pays crazy for flowers, and Bastian pays even crazier for crops and fish. 1 bluegill (i THINK it was a bluegill) sells for 600. I sold him a big harvest I had once, and I got from 45g to 7730g immediately (in the first spring). I thought buying a barn animal would take forever. Even just planting a whole bunch of 4 day crops and flowers is super profitable. Carol buys marguerites for 75g. Those common flowers you can forage easily sells for 75 each. Holy crap farming money is plentiful in this game.
Refining is high investment for high payout. Once you get to the bottom of the mines, where rare stuff becomes common, then it's time to get your scrooge mcduck swimsuit on.
A single trip to the mines can easily give you 10k. And that's just the early stuff with the basic tools.
also if you really want to profit from flowers, wait until there out of season to sell. It varies how much more they are worth but at least 30g or so, sometimes triple what they were in season.
I haven't paid attention to out of season crops and whether they are worth more.
but i agree its hard to spend all the money