 TITLE: Is My Money Safe During a Recession? CONTENT: Keep Your Money Safe in an FDIC-Insured Bank Account\n----------------------------------------------------\nOne place to safely keep your money is an FDIC-insured bank account. If you have checking and savings accounts with a traditional or online bank, you likely are already protected.\nThe Federal Deposit Insurance Corp. (FDIC), an independent federal agency, protects you against financial loss if an FDIC-insured bank or savings association fails. Typically, the protection goes up to $250,000 per depositor and per account at a federally insured bank or savings association. This includes checking accounts, savings accounts, money market accounts and certificates of deposit (CDs) at traditional banks as well online-only banks. The same $250,000 per-depositor coverage limit applies to accounts at credit unions insured by the National Credit Union Administration, a federal agency. So, for example, if you held a joint savings account with your spouse, you each would have $250,000 in FDIC coverage, so $500,000 on the account.\nIf you're unsure whether your accounts are FDIC-insured, you can check with your institution or look it up on the FDIC's BankFind database.\nAn FDIC-insured account is also a great option for your emergency fund. If you don't already have one, starting an emergency fund can provide a cash cushion in case you lose your job or your work hours are cut during a recession.\nGenerally, your emergency fund should contain enough money to cover at least three to six months' worth of living expenses. But if you're just starting out, set aside as much as you can on a weekly or per-paycheck basis until you feel more comfortable fully funding your emergency account. Anything you can save now could help if your financial situation worsens. END