Clark has historically loved money-market accounts and recommended them to listeners as a great choice for savers. But right now, unusual market conditions mean that he's about to go down a different path with his advice.

At this time, money-market accounts are not a good deal because what you can earn has gone down to a nearly microscopic level. So today he's recommending CDs for the first time in about 7 or 8 years. At BankRate.com, you'll find 1-year CD rates around 3.75%; 2-year rates around 3.65%; and 5-year rates around 4%. (Editor's note: Rates are accurate as of 01/07/09.)

Normally you'd sneeze at these rates, but right now they're fairly competitive. The only drawback with CDs is that you don't have instant access to your money. You may face penalties or forfeit some of your interest if you need to dip into those funds early.

Should you absolutely need quicker access, try an online savings account with one of the "directs": ING Direct, HSBC Direct, Emigrant Direct and others. You'll earn around 2% or 3%.

Finally, you might want to consider a tax-free money market fund (aka a municipal money market fund) if you have a family income of more than $100,000.