Everyone dreams about what to do with money if they suddenly came into a lot of it, whether by winning the lottery or getting an inheritance or doing well in stocks, etc.  Maybe money is especially tight for you now, as it is for most people, but you want to know how to get the most out of what you have, whether it’s extra money or not.  Before you run out on a shopping spree, here’s a list of ideas that can help you get a positive return on your funds.  (And shopping is definitely a way to go, but if you want more than a quick fix, read below!)

• Take out a home equity line of credit.  In a sense, this will be extra money, and you can use it for just about anything.  Pay down your high debts, start a college fund, or place it in a savings account for emergencies.  Of course, this is a loan you have to pay back, but if you can establish decent terms, you can use it to put yourself in a better financial situation.
• With your own current money, pay down your debt or open a savings account and have a set amount from your paycheck automatically deposited each payday.  Consider an account with a high interest rate, like a money market or CD, to get the most from your money.  Watch your income and expenses, and make sure you’re not spending too frivolously.  If you are, you can cut back and use that money for your debt, savings, or both.
• Start a part-time business.  This will definitely require upfront expenses and a good amount of your time, but they’ll both be different depending on what kind of business you choose.  If you’re able to put forth enough effort, your success can pay you back many times over in the future.
• Invest in the stock market.  If you do have a little money to play with, this can be a good option for you.  Just like gambling, only invest what you can afford to lose.  The stock market is always risky, and you want to be especially careful in current economic times.  But seek the right advice, and you can learn how to take advantage of a downturned market.
• Invest in your health.  Buy a new bike or a new pair of running shoes, or try out a new gym or fitness video.  Keeping yourself healthy now can prevent a host of expensive medical problems in the future.  Plus, you’ll just feel good in general, so get moving!
• Buy used.  There are plenty of items that just don’t make sense to buy new, and that’s everything from videogames to cars.  With some new items, you’re paying for the brand name or fancy packaging, and if you can do without that, wait until you can find it used for a better price.
• Buy generic.  Just like with used items, generic products can be a better buy than brand name.  Whether you’re buying food or medicine, check the labels.  Generic medicines usually contain the exact same active ingredients and can be up to hundreds of dollars cheaper than the brand name.  Most food products also contain the same or similar ingredients and you won’t notice a taste difference.  (You’ll have to experiment because you can run into some generics that just didn’t do a good imitation.  I personally recommend avoiding generic boxed macaroni and cheese.)

Explore your options.  This is only the beginning of how to make your money work for you.  Of course, if you can’t find anything that piques your interest, I’m always accepting donations.