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'set aside money' is correct and usable in written English.
You can use this phrase to describe the action of putting aside money (usually for a specific purpose or goal). For example, "I'm trying to save for a new car, so I'm setting aside money every month."
Exact(60)
Also read: Should you build rainy-day savings or pay off debt? — Set aside money for a life happens fund.
Set aside money to use to try to capture the effects of an anticipated Santa Claus rally.
Set aside money to cover unanticipated life events and expenses like unreimbursed medical bills and auto or home repairs.
Set aside money for a seasonal subscription to a local theatre or orchestra.
The staffers told them that Congress hadn't yet set aside money to build the fence.
Set aside money to pursue buying used library books.
Set aside money early as well, to be sure you have enough to pay for what you want to do.
"But Congress set aside money to conserve wetlands.
They wanted to set aside money for retirement.
Europeans, he said, "set aside money in savings".
49 in 2002, which set aside money for after-school programs.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com