Savers can make some money by carefully stashing cash

— -- A year after the collapse of Lehman Bros., Americans are spending less and saving more, which most would agree is a healthy response to the financial crisis.

But while saving more might help you sleep at night, it sure won't make you rich. Interest rates on low-risk investments, such as certificates of deposit and money market funds, are abysmally low. Nobody should expect to make a bundle from an emergency savings account, but these days, interest on a $1,000 investment in a one-year CD will barely pay for a movie ticket. Popcorn not included.

The good news? This situation probably won't last. As the economy recovers, interest rates are expected to rise. Here's a look at how to get the most out of some popular low-risk investments in the meantime:

•Certificates of deposit. The average rate for a one-year CD was 0.98% last week, according to Bankrate.com. You can earn a higher rate by investing in a five-year CD, which was paying an average rate of 2.23% last week. But locking up your money for that long is a bad idea, says Greg McBride, senior financial analyst for Bankrate.com. Investing in CDs with shorter maturities, he says, "will give you the flexibility to reinvest at regular intervals and catch the eventual uptick," in interest rates.

Many high-yield bank accounts are paying slightly higher rates than CDs. But income-seeking retirees are probably better off with CDs because they offer predictability, McBride says.

"Even if you lock in a one-year CD at a rate slightly lower than that for a savings account, you know what you're going to get for the term of the CD," he says. With a high-yield savings account, he notes, "The yield can change at any time."

•High-yield savings accounts. A few banks are paying 1.75% or more on their savings accounts. Some banks and credit unions offer rewards checking accounts with rates of 4% or more. However, to earn these rates, you're usually required to set up direct deposit, receive your bank statements online, and use your debit card a certain number of times per month.