With the economy in trouble and unemployment on the rise, every dollar counts.

But let's talk about what to do if you have 1,000 of them.

Two good ideas never go out of fashion:

Pay down high-interest credit card debt. This guarantees you'll waste less on interest charges the very next month, and the month after that, and the month after that. You'll have more money to spend on other needs. Our calculators can help you devise a plan for paying off one credit card or a bunch of credit cards.

Build up your emergency fund. This means you'll be more prepared for life's financial traumas, from major car repairs to layoffs. If you can't cover three to six months' worth of living expenses, you don't have enough.

Here are five more smart moves for putting that money to work:

Smart move 1. Invest in your career.

A recent survey by the Associated Press and Yahoo News found nearly one-third of Americans are worried about losing their jobs.

If that's you, this is a great time to brush up on the skills you need to make yourself a valuable employee -- not to mention make yourself more marketable for your next employer. A few ideas:

• If you want to brush up your computer skills and are self-motivated enough to guide your own studies, check out Lynda.com. This online learning site offers video tutorials on more than 300 subjects. The courses are heavy on design software (a comprehensive course on Adobe Creative Suite 4 is new), but also include many business skills (Excel, Outlook and PowerPoint). Individuals pay $25 per month or $250 per year for access to all courses. For $375 per year, you can get access to exercise files, which let you work on the same files used in the video demonstrations.
• If studying on your own isn't your thing, check out your local community college. Many have short, inexpensive continuing education classes -- you might spend two nights over two weeks brushing up on PowerPoint for less than $200. Classes run the gamut from public speaking and management training to accounting, payroll and project management and a wide variety of computer classes. Some of the more advanced programs, such as a 10-week course in the fundamentals of payroll, cost closer to $1,000, but they give you solid skills you can transfer to work. If your office has the need for a notary public, you can get certification for under $100 in many places.
• Attend a professional conference or two. You'll brush up your skills, plus do some networking. Then if you lose your job, you're already a step ahead with the contacts you've made in your field.

Smart move 2. Start a business.

It doesn't have to be anything fancy.

Live in a snowy area? You may be able to find a used snowplow to mount on a truck to scrape off driveways this winter (they cost around $1,500 new, but check Craigslist for used plows under $1,000). In a warmer climate, there's always lawn-mowing or landscape maintenance.

With a little training, you might be able to turn a passion into a business. If you're a fitness buff, you can get certification as a personal trainer for less than $1,000. Do your friends rave about your parties? Look into event planning (community colleges offer classes for that, too).

With little or no start-up money, you could take up pet-sitting or running errands for busy neighbors. Older people, especially, might take you up on this.

A caveat: If you're toying with using any of the same skills you need in your day job, check with your employer to be sure your sideline is OK with them.

Smart move 3. Hire a financial planner.

A fee-only financial planner can look at your finances and provide a realistic assessment of where you stand and what you must do to ensure a secure and comfortable retirement.

These planners aren't paid commissions on the products they sell; they're paid by their clients. If this is a one-time visit for you, you'll likely pay by the hour. Before you sign up, be sure to ask for an estimate of how many hours you'll be billed.

Most fee-only financial planners charge less than $200 an hour; if you don't have a complicated situation, you can get an overview of where you stand and some ideas for your next moves for under $1,000.

You may also see something called a "fee-based" adviser; these folks make most of their money from fees, but may also get commissions on some of the products they sell.

If you've never seen a financial planner before, start by getting recommendations from trusted friends or family and go from there.

Smart move 4. Get a secured credit card.

A good credit score is critical right now. If you have a FICO score below 620, it will be difficult, if not impossible, to borrow money.

If that's you, and you can't even qualify for a low-limit credit card, use part of your $1,000 to get a secured credit card that can help you boost your score.

These are credit cards backed by money you put in an account. For instance, you can get a Visa card with a $500 limit by giving the issuing bank $500 up front. The money goes in an account, earns a little interest and guarantees your balance will be repaid if you default.

How does this help your credit history?

By using the card to make small purchases and pay off the balance every month, you begin to build a history of paying your bills.

Your credit score will begin to rise in just a few months and, within a year or so, you'll be able to get your deposit back and qualify for a regular credit card.

Our advice on where to find the best secured credit card will help you make all the right decisions.

Smart move 5. Work on your house.

Exterior repairs tend to fall by the wayside when money gets tight. But that's asking for trouble.

If you don't touch up the paint on the house, your trim could rot, leaving you with a much bigger problem that you won't be able to ignore. Deteriorating roofs, chimneys, gutters and masonry also can lead to serious and expensive problems.

It may make you cringe to spend money on something you won't notice that much, but be content knowing you've saved yourself a big headache -- and a bigger bill -- down the road.

By Mary Yanni

Interest.com Contributing Editor