Even as the stock market has started to falter recently, many Americans still have the opportunity to make their hard-earned dollars go further than they do now. The Federal Reserve's moves to keep interest rates low over the past several years hasn't been the best news for savers, but low rates have been a boon to millions of Americans who have extensive borrowings, whether it be on home mortgages, student loans, or other types of debt. Meanwhile, even as tax rates have gone up, the opportunities to save on taxes have become more valuable, and minimizing other nickel-and-dime expenses like bank fees can put a lot more spending money in your pocket.

Now is a great time to look at your personal finances to see where you can save. In the latest edition of the Fool's award-winning series Where the Money Is, Motley Fool analyst Michael Douglass consults with Dan Caplinger, the Fool's director of investment planning, to get answers on everything from mortgage refinancing and student-loan consolidation to tax-loss harvesting, eliminating unwanted bank fees, and smarter income investing. Take a look at what Michael and Dan have to say in the following video.

Dan Caplinger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.