Are you afraid of the economy? Many people are now saying we are entering or are in a recession. Others are saying this recession will be worst than most people can remember. They are saying it will hit hard and hit almost everyone.
So when I start hearing talk like this my first reaction is to get a bit nervous. I mean we have all worked so hard to get ahead I hope these blasted baby-boomer’s don’t take us all down.
Alright alright this may not be the best reaction. So my next reaction is to start saving as much as I can and paying off as much high interest debt as possible.
Are you saving money? What I do is take money out automatically from my checking and have it deposited into my savings at ING Direct. Emigrant is another online bank you can use that will normally beat your brick and mortar bank on interest rates. Recently with all the talk of a bad economy I have doubled my weekly savings. I still continue with my larger monthly deposits as well. I wanted to get ahead of the game with my savings to help fight off anything that could come my way. This won’t stop everything but it could surely keep some food on my table if things turn bad.
I can even give you a free $25 if you sign up with ING Direct bank. Just let me know below that you are going to sign up. To get this you must deposit an initial $250, but there you go a quick 10% on your money.
If your first reaction to recession news is to go into a deep depression than you need to quickly get onto step 2. Start paying off high interest debt and saving as much as you can. This will help fight off any recession.
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the best to have in a recession is cash! once all the good companies get affected, you just have to pick one and win big!
Is savings with ING Direct FDIC insured?
Yes they are!
ING DIRECT is a federally chartered bank insured by the FDIC. Individual deposit accounts are covered to $100,000. Joint accounts are covered to $100,000 per individual on the account. If you have two accounts with us, a single and a joint, your maximum coverage amount is $200,000. IRA accounts are separately covered up to $250,000 per holder.