6. Don't try to cut costs by canceling your insurance. Keep up with your insurance payments, and you'll keep in place your protection against medical costs or major loss of personal property, like your home or car. Learn more in the Life Events section on MyMoney.gov.
7. If it sounds too good to be true, it probably is. Watch out for scams trying to take advantage of all of the recent changes in our nation's financial markets. Educate yourself at FTC.gov.
You may have heard some of these tips before, but now's the time to really pay attention and take action. Just as the government is trying to do its part to help the economy recover on a national level, and the Presidential Council is working to provide meaningful education and support for all Americans, you also need to do your part to help yourself and your family weather this financial storm.
Financial literacy has never been more important. So I encourage you to get as much information as you can. Make use of the resources suggested by the Council. And be sure to talk openly and honestly with your family about how you can all work together to turn these challenging times into an opportunity to increase your financial knowledge -- and your future financial security.
To learn more about your money, visit MyMoney.gov. For more information on the President's Advisory Council on Financial Literacy, visit the U.S. Treasury Department's Office of Financial Education web site at Treas.gov/ofe.
*On Oct. 3, 2008, FDIC deposit insurance and NCUA share insurance temporarily increased from $100,000 to $250,000 per depositor through Dec. 31, 2009. Deposits that had an insurance limit of $100,000 prior to Oct. 3, 2008, including CDs with a maturity date after Dec. 31, 2009, will revert to the $100,000 limit after Dec. 31, 2009.