Everyone likes money, at least a little bit, and finding ways to make more of it with little effort seems to be the American way.  While buying that weekly lotto ticket could be your chance to win a quick $10 million, saving that $52 a year in a CD or high interest savings account could help you more in the long run.  While I still look for the end of the rainbow after it rains, I can’t help but see the bills and receipts that are piling up daily by my computer at home.  Earning money slowly isn’t as exciting as winning big at the casino, but it’s a more practical way to ensure my financial security in the future.

Invest in these 10 ways to stretch your dollar in 2008 and watch your financial fortunes soar:

1. CD’s: Putting your savings into a CD will get you a higher interest rate on your dollar.  Certificate of Deposits will range from 6 months to more than 5 years depending on what your needs are and the rate you would like on your dollar.
2. Money Market Accounts:  Similar to a savings account, with some stipulations, these accounts usually offer you a higher interest rate on your money and no time limits.  Interest is usually paid monthly and money can be withdrawn at any time.
3. High Interest Savings Accounts:  Like Money Market accounts the high interest savings account will offer you more interest, but may have some limitations.  The interest is still paid monthly and money can be withdrawn at any time.
4. Awards Credit Cards:  Many cards today offer awards to their holders from cash back to airline miles to train travel.  Determine what program works best for your lifestyle and use it to your advantage.
5. Refinance Your Home:  Most loan companies are offering lower interest rates with no refinance fees.   If you have had your loan a number of years and paid down some of the principal, then it may be time to refinance.  Refinancing may reduce your interest rate and therefore reduce your monthly payment.
6. Pay off old Loans:  If you currently have multiple loans that you are paying on then it may be time to tighten your belt and pay off the smallest loans quicker.  While you may be paying low interest on college loans or personal loans, it’s still interest which is essentially money going out of your pocket with nothing in return.  Try paying additional money on the monthly installments to reduce this debt quicker and freeing up future money for better investments.
7. Consolidate Credit Cards/Loans:  If you have multiple credit card or personal loans that you are paying interest on every month then you may want to look at consolidating them and getting a lower interest rate.  A financial counseling company can help you decide what is best to consolidate and where you can get the lowest interest rate, thereby reducing your monthly payments.
8. Cutting Coupons:  While your mother or grandmother may have saved green stamps or cut coupons and it seem like an antiquated practice, it is still useful today.  Many Sunday papers come with a coupon section that offers discounts on items that you may regularly use.  Cut them out and put them in an envelope in your vehicle so that they are readily available for your next trip to the store.
9. Buy a Newer Vehicle:  The cost of maintaining that old vehicle alone could save you enough money to buy a newer vehicle that is still under warranty.  List all last year’s repairs and maintenance costs and determine if a new vehicle will actually save you money in the long run.  New vehicles are now coming with longer standard warranties that will help the consumer lower their repair costs.
10. Join a Gym:  With the rising cost of health insurance and medical bills, keeping your self fit and healthy will only save you money in the long run.  Some insurance companies even offer discounts to customers with better health.  Take advantage of company programs that offer discount health club memberships to get yourself in shape and reduce those costly medical bills.

With anything you do in life, it’s always important to keep yourself apprised of the current situation.  Take a look at your options closely and make sure that they fit with your lifestyle before committing to anything that could aversely affect you in the future.  There is a plethora of knowledge out there that can help you obtain wealth, you just need to learn what works for you and put it to good use.