When money’s tight and you’ve got a family to provide for, making the most of your savings and ensuring they go as far as they possibly can will be one of your top priorities. But wanting to stretch your savings further and actually making it happen are two very different things.

Finding the right bank account that offers you as much interest as possible is a good place to start. From a long-term perspective, you want to be gaining interest and compounding those gains, even if it is relatively difficult to find a bank that’ll offer you a high interest rate on your savings these days.

The other thing you’ll want to consider is investing your money. Your money will always stretch further if you’re able to invest it and grow it over time. Of course, there are different ways to invest. For a safe and steady view that’s more about long-term gains, you should look to traditional options such as the stock market.

If you’re looking for greater and quicker returns, while taking into account the fact you’ll have to take more risks, you should consider self-directed IRAs. These investment vehicles make it possible to gain from a wide range of alternative investments, including real estate, cryptocurrencies, hedge funds and plenty of others.

Infographic designed by: https://www.accuplan.net/