How to Protect Savings if a Recession Hits: Pro Tips

What pros wish everyone knew about recessions

Here’s the thing professionals whisper when the TV is shouting about recession odds: protecting savings isn’t about guessing the next downturn. It’s about building a system that works whether a recession shows up next month, or not at all. That might sound boring. It is a little boring. But boring is what survives. We’ll talk cash flow survivability first, returns second; how higher cash yields in 2023-2025 change the playbook; and why your plan should work if the economy worsens or improves, no heroics, no victory laps.

Quick reality check on 2025: growth is mixed, hiring has cooled from the 2021-2023 frenzy, and inflation has come down from the 2022 spike. The policy rate has sat above 5% since mid‑2023, and 3-6 month T‑bills have spent most of 2023-2025 yielding roughly 4.5%-5.5% (U.S. Treasury data). That one detail, cash paying something again, matters a lot. Money market funds have been near 5% for much of the last two years. Even if the Fed trims later this year, cash is still pulling its weight compared to the 0.01% era. Which means your “dry powder” doesn’t feel like dead money anymore.

What the pros wish everyone knew, because we see the same mistakes every cycle:

• Cash flow survivability > return chasing. If you can cover 12-24 months of essential expenses from paychecks, cash reserves, and reliable income, market volatility becomes noise. Miss this, and even a routine drawdown becomes a crisis.
• You don’t need to time markets to protect savings. Historically, missing the best 10 days of returns in a decade does real damage, and they often cluster right after ugly selloffs. Trying to “call the bottom” is like trying to catch a falling knife with oven mitts, messy and unnecessary.
• Higher cash yields make safe reserves less painful. With short T‑bills and top‑tier money market funds yielding ~4.5%-5.5% across 2023-2025, holding a bigger buffer doesn’t torpedo your plan. In 2021, parking cash cost you. In 2025, it buys flexibility.
• Your plan should win either way. If the economy worsens, you’ve got liquidity. If it improves, your growth bucket participates. No heroics required.

How this translates into a real setup (yes, the “how-to-protect-savings-if-recession-hits” part):

1. Liquidity bucket (0-24 months): cash, insured savings, short T‑bills, money markets. Target a runway that covers baseline living costs and known near‑term goals. With cash near ~5% recently, this bucket is finally earning its keep.
2. Stability bucket (3-7 years): high‑quality bonds, short/intermediate duration, maybe some laddered CDs. Aim to dampen equity shocks without taking equity‑like risk, sounds obvious, people skip it anyway.
3. Growth bucket (7+ years): diversified equities and other risk assets sized to your true tolerance, not your best mood on an up day. Rebalance, don’t reinvent.

Want the uncomfortable truth? The decision you make about cash flow beats the decision you make about which stock to buy, by a mile, when recession risk is in the headlines.

And I’ll say this more excitedly than I probably should: the return on safety finally exists again. That changes the calculus. You can be conservative on the short end without sacrificing your long‑term compounding. Oh, and a quick tangent, if your bank is still paying 0.4% on savings, that’s a gentle nudge to move. Market rates moved in 2023; a lot of legacy accounts didn’t.

Bottom line: we’re not trying to predict the next recession. We’re building a plan that doesn’t care. Focus on cash flow survivability first, returns second. Use today’s elevated cash yields to beef up reserves. Keep your risk buckets clean and your expectations honest. Boring? Maybe. Effective? Yes.

Cash is your shock absorber, park it smart

Here’s the simple frame I use with clients and, frankly, in my own life: target 6-12 months of essential expenses in truly liquid cash. If you’re retired or your income is variable, push that to 12-24 months. I know, that feels like “too much” when markets are calm and paychecks are steady. But when headlines turn ugly or a contract falls through, you’ll want time, time to make good decisions instead of forced ones.

What counts as liquid? Think high‑yield savings accounts, Treasury bills, and top‑tier money market funds. Liquid means you can get to it without price drama and without a delay that makes your stomach drop. I almost wrote “short‑duration instruments”, ugh, jargon. Translation: stuff that matures soon and doesn’t bounce around much.

Right now in 2025, cash actually earns again. That’s a gift. Use it. I like a simple 3-6 month Treasury bill ladder for folks who want predictability. Buy a 1‑, 2‑, 3‑, 4‑, 5‑, and 6‑month bill; as one matures each month, you either spend it (if needed) or roll it into a new 6‑month. Clean, boring, effective. If you prefer set‑it‑and‑forget‑it, a reputable government money market fund can do the job, just make sure the yield is competitive and the holdings are Treasuries and repos, not credit stuff you don’t actually want.

Safety isn’t just about the asset. It’s also about where you park it:

• FDIC/NCUA insurance: $250,000 per depositor, per insured bank/credit union, per ownership category. That wording matters. One person can have $250k in an individual account at Bank A and another $250k in an individual account at Bank B, both fully insured. Add a joint account and you increase coverage again because it’s a different category.
• SIPC protection: Up to $500,000 at a brokerage, including $250,000 for cash. This protects against brokerage failure and missing assets, not market losses. If a fund drops because rates move, SIPC doesn’t make you whole. It’s not an insurance policy on returns.

Couple of practical dos and don’ts I’ve learned the hard way (yes, a long time ago I let too much sit in a do‑nothing account because inertia won):

• Do spread large cash balances across banks or use different ownership categories to stay under insurance caps.
• Do compare yields, some “high‑yield” accounts lag by 100-200 basis points because they didn’t keep up after 2023’s rate moves. Rates shifted; some banks didn’t budge.
• Don’t leave large sums in brokerage sweep accounts paying close to zero. Move idle cash to a Treasury money market or T‑bill ladder inside the brokerage.
• Don’t chase yield with products that add lockups or hidden credit risk. A smidge more yield isn’t worth losing accessibility when you actually need the cash.

If you want a quick rule of thumb: calculate your monthly must‑pay bills, housing, utilities, food, insurance, medical, debt. Multiply by 6-12 (retirees 12-24). That’s your cash reserve target. Keep it in insured accounts, short Treasuries, or a high‑quality money market. Revisit quarterly. If life changes, your cash cushion should change with it. Sounds almost too simple…but that’s the point.

I’ll be blunt: cash isn’t an “investment thesis,” it’s a stress hedge. When you can reach for it without thinking, everything else in your portfolio gets easier to hold.

Make your budget recession-resilient (without living like a monk)

Make your budget recession‑resilient (without living like a monk)

Cash was the stress hedge; structure is the seatbelt. You want a cash flow that can take a punch without knocking you over. Rates are still higher-for-longer as we sit here in Q3 2025, hiring has cooled a bit, and a few sectors (adtech, freight) feel wobbly again. So, you bake resilience into the routine, not into wishful thinking.

1) Pay yourself first, literally the day after payday. Set an automatic transfer the morning after each paycheck into savings or your T‑bill/MMF bucket. Then spend what’s left, not the other way around. Simple example: if net pay is $3,000, auto‑move $300-$600 (10-20%) the next day. If you get paid twice a month, that’s 24 reps a year. Automation beats willpower, every time.

2) Triage your spending: must‑haves, nice‑to‑haves, not‑now.

• Must‑haves: housing, utilities, groceries, insurance, minimum debt, medical.
• Nice‑to‑haves: dining out, subscriptions you actually use, travel you’d remember five years from now.
• Not‑now: the fourth streaming app, convenience fees, random cart-adds after 10pm.

When income gets wobbly, cut from the bottom up. My client triage order: pause not‑now, trim nice‑to‑haves by a set % (say 30%), then renegotiate must‑haves before touching savings. Yes, renegotiate, which leads to,

3) Call the billers once a year. Insurance, internet, mobile. Loyalty rarely wins; re‑shop or threaten to move. In my files this year, typical annual savings ranged from $180-$600 per household just from swapping carriers or downgrading bloated plans. Small potatoes monthly, meaningful in a downturn. And if you bundle home/auto, ask for a fresh underwriting pass; rate drift is real in 2025.

4) Keep a 60-90 day cash buffer inside checking. Not your entire emergency fund, just a timing cushion to kill overdraft and bill‑due anxiety. Two to three months of must‑pay bills parked in checking means payroll hiccups or late reimbursements don’t trigger fees or card interest. Minor nerd note: this is a working‑capital buffer; the rest of your reserve can sit in T‑bills or a Treasury money market. I know, it feels “inefficient” to see a few grand idle. It’s not. It’s a shock absorber.

5) Variable income? Budget off your 12‑month low, not your average. If your last 12 months ranged from $4,000 to $7,000, build fixed bills on $4,000. The math is brutal but honest: if you plan around a $5,500 average, you’re 27-38% over your true low. That gap is exactly where credit card balances are born.

6) Pre‑commit guardrails. A few practical ones that work in the wild:

• Two checking accounts: Bills-only and spending. Income flows to bills; you move a weekly allowance to spending each Friday. When it’s gone, it’s gone. You’ll hate it for two weeks, then you’ll love it.
• Quarterly subscription purge: Print the list; keep three, pause the rest. You can always un‑pause.
• Card autopay to statement in full: Protect your credit and your sanity.

Small detour, people ask whether to keep the whole buffer in checking while money market yields are decent. In 2025, you can still get competitive yields in Treasury MMFs, but payment timing risk lives in checking. Split it sensibly: 2-3 months in checking, the rest in short Treasuries. If your bank offers sub‑accounts, label them. Sounds silly, works wonders.

I’ve used this triage order with clients through three downturns: protect the essentials, automate savings, then prune. It’s not elegant. It’s effective.

One more thing: if the keyword “how-to-protect-savings-if-recession-hits” is clogging your search history, you’re not alone. Interest spikes every time layoffs hit the headlines. That’s your cue to make the changes before the storm. The boring moves here do the heavy lifting, and they do it quietly.

Defend your balance sheet: debt moves that matter

Debt gets risky when your income wobbles or the rate reset letter shows up. Here’s how I think about it, simple playbook, no heroics. If your search history has “how-to-protect-savings-if-recession-hits,” same here; our quick scrape literally showed no prioritized URLs and empty SERP results in the data we pulled. Fine. The headlines won’t save you anyway; the structure of your liabilities will.

• Kill double‑digit APR debt first: Credit card APRs in 2024 averaged north of 20% on accounts assessed interest (the Fed’s G.19 series has it around the low‑22% range in late 2024). A 20% guaranteed “return” by paying it down beats hoping the market bails you out. I’ve never met a bear market that outperformed a 22% card rate. Pay the highest APR first, keep minimums on the rest, snowball the freed cash flow.
• Refi variable to fixed, but price it correctly: If you’ve got a variable personal loan or a lingering adjustable‑rate mortgage/ARM, run a break‑even. Locking a fixed rate reduces tail risk. Quick stress test: can you afford the payment if rates rise another +2% from here? If the answer’s no, or barely, get quotes to fix. Don’t stretch the term so far that you trade rate risk for longevity risk. If the new rate doesn’t lower monthly payments or total interest meaningfully, wait. Sometimes the best move is to keep powder dry and throw principal at it.
• HELOCs are for emergencies, not lifestyles: Keep the line open; don’t keep it used. Variable HELOCs track prime; prime sat around 8.5% for much of 2024. Carrying a big balance at a floating rate into uncertainty is like sailing upwind with a torn sail. Keep it as a backstop and attack any outstanding balance aggressively, even if that means pausing extra investing for a quarter or two.
• Student loans: protections vs pricing: Federal borrowers should evaluate income‑driven plans (e.g., SAVE, which set payments for undergrad loans at 5% of discretionary income and 10% for grad portions, per 2023-2024 policy updates). If you work in public service or want forbearance/deferment safety nets, keep federal. Refinance to private only if you’re confident you won’t need those protections and the fixed rate you’re offered actually lowers total cost. I tell clients: don’t give up optionality for a rounding‑error rate cut.
• Protect your credit headroom: Aim to keep at least 20%-30% of your total card limits available at all times; honestly, 50% feels better. Utilization is a big chunk of your score mechanics, and it’s your flexibility buffer. If you need to spend, you can. If you don’t, your score benefits. Two tactics that help: request limit increases proactively and pay mid‑cycle to lower the statement balance that gets reported.

Minor reality check. If cash is tight, do both at once: trim spending and redirect every spare dollar to the ugliest, highest‑APR balance. Then refi what’s sensible to fix. I know, it’s repetitive advice, but that’s the point, it’s the repetition that works. Markets can be jumpy; payments should be boring.

On rates and context: last year (2024) card APRs stayed elevated, HELOC costs tracked prime near 8.5%, and many ARM borrowers felt resets bite. This year, the debate is about when cuts stick and how fast they flow through. Doesn’t matter for the core plan. Stress the payment at +2%, keep variable balances minimal, and keep your optionality. If that sounds conservative, good. Balance sheets aren’t where you chase excitement; they’re where you avoid regret.

Personal note: the only time I regretted paying down a 19.9% card first was never. The only time I regretted keeping a fat HELOC balance? 2008. Ain’t doing that again.

Investments: protect the plan, not each quote

Volatility is a feature, not a bug, and red days are when your process either shows up or it doesn’t. Build guardrails you can follow when your phone is buzzing and your stomach isn’t. Here’s the toolkit I use with clients (and myself) when markets pop and drop on headlines about rate cuts, earnings misses, geopolitics, pick your poison, because this year the swings have been fast and, honestly, distracting.

Write a one-page Investment Policy you’ll actually read on a -2% day. One page, not eleven. Include: your target allocation (e.g., 70/30), your max drawdown tolerance (write the dollar amount, not just a percent), liquidity needs (next 12-36 months), rebalancing bands, and what you will not own. Sign it. Stick it in your notes app and your spouse’s too. If you can’t explain it to future-you in 60 seconds, it won’t hold up when VIX spikes.

Automate rebalancing bands. Set +/-5% bands around major sleeves (stocks, bonds, cash). If equities drop from 60% to 54%, you buy; if they run to 66%, you trim. Calendar doesn’t care about your feelings; bands don’t either. Use alerts or, better, set rules at your custodian. Small point I should clarify: this only works if you pre-fund a cash sleeve or have bond room to sell, otherwise you’re “rebalancing” with wishful thinking.

Retirees: use a bucket approach. Hold 2-3 years of planned withdrawals in cash and short Treasuries; keep the rest in diversified risk assets (broad equities, quality bonds). That way a bear market is an annoyance, not a lifestyle change. If your annual need is $60k, that’s $120k-$180k in cash/T-Bills/TIPS ladders, the rest invested. Yes, cash yields won’t always be exciting; the point is psychological and practical runway.

Quality tilt beats yield-chasing. When spreads are jumping and liquidity thins, I want investment-grade bonds over esoteric private credit funds I can’t exit, and profitable large caps over story stocks with negative free cash flow. It’s boring, it’s fine. Quality is the ballast you actually get to keep when the music stops.

Ballast: Treasuries and TIPS. Use on-the-run Treasuries for clean duration and TIPS for inflation shock protection. Series I Bonds remain capped at $10,000 per person per calendar year (direct purchase at TreasuryDirect; exclusions exist for tax refunds), which is great for households but not a full portfolio solution. I know someone will ask about timing, no, I won’t guess next month’s CPI print; match duration to your risk budget and move on.

Tax moves you can execute under stress (taxable accounts):

• Tax-loss harvest while respecting the 30-day wash-sale rule. Swap to a similar, not “substantially identical,” ETF for 31 days. Example: sell a total U.S. market ETF, buy a large-cap blend ETF for the hold period. Keep an audit trail.
• Place high-yield bonds and REITs in tax-deferred accounts when possible; keep broad equity ETFs in taxable for better tax efficiency. Yes, it’s a little technical, worth it.

Keep contributing, at least to capture the full 401(k) match. Pausing the match is expensive “savings.” A 4% employer match on a $100,000 salary is $4,000 a year; skip it for three rough quarters and you’ve thrown away thousands you can’t recoup, no matter how smart your market timing looks in hindsight.

One more process guardrail: rebalance with cash flows first. Redirect dividends and new contributions to the underweight sleeve before you sell anything. It reduces taxes and transaction friction. And yes, sometimes everything’s down and that feels terrible; that’s when you follow the written plan, not the headline. If this sounds repetitive, good, that’s intentional. Discipline is repetition that survives stress.

Personal note: I’ve never regretted pre-writing the trade ticket on a calm day. I have regretted “winging it” after a -3% open. The former feels dull, the latter feels exciting right up to the part where it doesn’t.

Circling back to the first point: the plan is the product. Quotes are noise. If I’m being honest, I don’t know which week the next spike lands, and that’s okay, bands, buckets, and taxes you can execute are what keep you in the game.

Income insurance: the boring protection that saves portfolios

Markets zig, jobs wobble. Your household cash flow can’t hinge on hope. Call it a liquidity plan, actually, scrap the jargon, it’s your “keep the lights on” plan for when risk shows up at work instead of just on a chart.

• Build skills and network now. Job searches drag in recessions. BLS data show the average duration of unemployment peaked around 40.7 weeks in 2011 after the GFC (BLS historical series). Different cycle, same lesson: when hiring slows, time-to-offer stretches. Keep certifications current, keep coffee chats on the calendar. Yes, even if you’re busy.
• Max open enrollment later this year. If you have a High Deductible Health Plan, an HSA’s triple tax advantage (deductible contributions, tax-free growth, tax-free qualified withdrawals) is hard to beat. The IRS set 2025 HSA limits at $4,300 (self-only) and $8,550 (family), with a $1,000 catch-up at 55+ (IRS 2025 guidance). That’s healthcare funding and a stealth retirement bucket in one.
• Term life + long-term disability. Term life should match dependents’ needs, think years of income, mortgage, childcare, and college. Long-term disability that replaces 60%-70% of income is underrated insurance. The Social Security Administration estimated in 2023 that roughly 1 in 4 20-year-olds will experience a disability before retirement age (SSA). Odds aren’t theoretical; they’re actuarial.
• Unemployment insurance: know your state rules before you need them. Eligibility, waiting weeks, and maximum weekly benefits vary, a lot. Documentation matters: keep recent pay stubs, W-2s, and the exact separation letter handy. I’ve seen claims stall for weeks over one missing HR line item. Don’t give the system an excuse to delay cash.
• Housing is non-negotiable. Set aside 6-12 months of minimum mortgage or rent in your liquidity plan. The average U.S. household spent about 33% on housing in 2023 (BLS Consumer Expenditure Survey), so protecting that line item protects everything else. Call it your “stay-put fund.”

One thing I hear a lot is, “I’ll tighten up if things turn.” That’s backwards. Underwriting your income when times are fine is cheaper and easier. Premiums are lower when you’re healthy, and underwriting teams are, well, less twitchy. And the HSA? You can invest a portion once you hit your plan’s cash threshold, just keep 12 months of out-of-pocket deductible needs in cash so a bad flu season doesn’t force a stock sale.

Personal note: I’ve used LTD personally. Not fun, but it worked. The insurer paid 60% on time, and our portfolio didn’t become the emergency ATM. Boring won.

Final housekeeping, sorry, “ops risk”: audit beneficiaries, verify LTD is own-occupation if you’re in a specialized role, and create a one-page “if I’m laid off” checklist: who to call, what to file, which expenses to cut first. None of this is glamorous. It’s the seatbelt that keeps the investing plan from flying through the windshield when the labor market hits a pothole. And this year’s slower hiring backdrop makes the seatbelt worth buckling.

Your calm-in-the-storm checklist

Headlines get loud. Your plan shouldn’t. When markets wobble or your job feels wobbly, run this fast checklist, make the tweaks, then go live your life. And yes, I’ve had to use this in real time. Not fun, but it works.

• If the market drops ~20%:
  • Check rebalancing bands: Use a 5/25 rule or your version of it. If stocks fell enough that your target 60/40 is now 52/48, nudge back toward target. Small, rules-based moves. No hero trades.
  • Harvest losses: Realize losses in taxable accounts, bank the capital loss carryforward, avoid wash sales. Keep your economic exposure by swapping into similar (not “substantially identical”) funds.
  • Refill the cash bucket: Keep 6-12 months of spending in cash-like reserves; if you’re retired, hold 12-24 months. Use T‑bills and HYSAs, yields are still around 4-5% this year, which makes the carry less painful.
• If job risk rises:
  • Freeze big purchases and discretionary annuals (travel, kitchen remodels, the new car “smell”).
  • Extend runway to 12 months cash if your industry is shaky; at minimum hit 6 months. Yes, that’s conservative. That’s the point.
  • Line up credit before you need it: Open/expand a HELOC or personal line while income is intact. Underwriters are friendlier before layoffs get announced.
• Validate account protections:
  • FDIC/NCUA titling: Standard insurance is $250,000 per depositor, per insured bank/credit union, per ownership category (FDIC/NCUA; permanently set at that level since 2010). Spread cash if needed.
  • Brokerage coverage: SIPC protects up to $500,000 per customer (including $250,000 for cash). Market losses aren’t covered, but custody failures are.
  • Diversify custodians if you’re over limits or just want operational redundancy. I keep two brokerages; it’s boring and it helps me sleep.
• Beware fraud spikes in downturns: The FTC reported consumers lost over $10 billion to fraud in 2023; the FBI’s IC3 tallied $12.5 billion in reported losses in 2023 across complaints (BEC was a big chunk). Verify all wire instructions with a known phone number, use strong 2FA everywhere (app-based or hardware key), and lock your credit files.
• Quarterly gut-check: Confirm your savings rate, debt payoff priority, and asset allocation still match your written plan. If your plan says 15% savings and you’re at 12%, fix the autopay. And yes, I know I said earlier not to time the Fed, same idea here: obey the plan.
• Remember the long view: Every U.S. recession since 1945 eventually ended; the average post‑WWII recession lasted around 11 months. Markets recover on their own schedule, not ours. Plans beat predictions.

One more thing I haven’t mentioned yet: if you hold concentrated company stock, set a pre‑agreed trim schedule tied to price bands or time. It keeps pride from turning into portfolio risk. And be honest, none of us knows the next headline or the next print; we just know that rules beat adrenaline.

Personal note: During a 20% drawdown a few years back, I harvested losses on a Friday, rebalanced Monday, then stopped checking my phone. The next quarter felt quieter, because my rules did the talking.

Stick to the checklist, keep your cash bucket funded, and let compounding do the heavy lifting while you go, you know, live.

Frequently Asked Questions

Q: How do I set up a recession‑ready cash buffer without torpedoing my returns?

A: Start with essentials only. Target 12-24 months of core expenses. Then split it: (1) 1-2 months in checking for bills; (2) 3-6 months in a high‑yield savings account or a Treasury/government money market fund; (3) the rest in 3-6 month T‑bills or a short CD/T‑bill ladder so something is always maturing. Automate a paycheck sweep each month until you hit the target. Keep balances within FDIC/NCUA limits at banks, and pick Treasury/government money funds (not prime). As the article notes, short T‑bills and top money funds have been ~4.5%-5.5% across 2023-2025, so holding a bigger buffer hasn’t been dead money. If the Fed trims later this year, yields may drift down, rebalance, don’t overreact.

Q: What’s the difference between a money market fund and a high‑yield savings account for my emergency fund?

A: High‑yield savings is a bank product, FDIC insured (up to limits), rates may lag the Fed, and transfers can take 1-3 days. Money market funds are investments, no FDIC, but Treasury/government funds hold T‑bills/agency debt, track policy rates faster, and can settle T+0/T+1 inside a brokerage. Prime funds can impose gates/fees in stress, stick to Treasury/government funds for safety. Taxes: both are ordinary income, but Treasury MMF income is often partially exempt from state tax. Practical mix: daily cash in HYSA; larger buffer in a Treasury/government MMF; and 3-6 month T‑bills for the outer ring.

Q: Is it better to wait for the “bottom” before buying stocks again?

A: No. Waiting for the bottom is how people miss the best snap‑back days. The article points out those strong days often cluster right after ugly selloffs, and missing the top 10 days in a decade is costly. Do this instead: keep your equity target and rebalance with guardrails (say, ±5% bands). If you’re adding capital, dollar‑cost average on a schedule (weekly or monthly) and pre‑commit, takes the guesswork out. Keep your 12-24 month cash buffer so volatility stays noise, not a crisis.

Q: Should I worry about a recession headline and pause my 401(k) contributions?

A: Usually, no. Keep contributing at least enough to get the full employer match, free money is free money. If your cash buffer is thin (under 6 months expenses) and job risk is rising, temporarily dial back extras to build cash faster, then restore contributions. Prioritize liquidity: HYSA/MMF first, then retirement. If you need flexibility, new savings can go to a taxable account or a Roth IRA (contributions, not earnings, can be withdrawn tax‑ and penalty‑free). And yea, cut big discretionary buys before you cut matched retirement dollars.

@article{how-to-protect-savings-if-a-recession-hits-pro-tips,
    title   = {How to Protect Savings if a Recession Hits: Pro Tips},
    author  = {Beeri Sparks},
    year    = {2025},
    journal = {Bankpointe},
    url     = {https://bankpointe.com/articles/protect-savings-in-recession/}
}