Just a few days ago, Connie wrote in:

It’s been a real challenge turning our financial situation around. My husband seems supportive but he’s having a really hard time breaking his old spending habits and with our reduced income it is really a challenge every month.

I finally was able to get about $300 together for an emergency fund and I was really happy with my progress when our hot water heater died. We had to replace it and it not only ate all of our emergency fund but put us a few hundred deeper in debt.

It feels like every time we start to get ahead we end up further behind.

Connie nailed it. One of the most common reasons for the failure of short term financial plans is a key appliance failure. I’ve seen it happen in my own life, when our own hot water heater failed a couple of years ago and our washing machine failed about three years ago.

The appliances in your house are not infinitely reliable. An appliance failure is going to happen in the future.

There’s never a good time for an appliance to fail. It will

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Brokerage firms basically act as liaisons between individuals or companies that buy and sell stocks. They may charge a fee for their services or cut a percentage from the profits made in a deal; it depends on the stipulations made in the contract. When the first stock exchange was founded in NY over 200 years ago, it was intended to mediate transactions between banks and companies that needed a way to make money without taking loans, so they sold stocks and raised capital.

As the years went on, individuals also jumped onto the money wagon and companies also started to trade amongst themselves. Brokerage firms acted as the professional supervisors and advisers for their clients.

By hiring top investment firms, a company or individual has a legal representative who will act on their behalf on the stock exchange floor. Clients are informed of the most lucrative stocks, advised on how many stocks to buy or sell and at what price to buy or sell. By sending someone to the stock exchange floor to examine stocks, the brokerage firm gets up-to-date information on which stocks are ideal for their client and they relay this information.

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Tags: Brokerage, Brokerage Firm

The prenuptial agreement used to come with some serious social baggage. Signing a prenup, in the past, was tantamount to declaring that you expected to divorce. While there is still a reluctance to talk about prenuptial agreements, these arrangements are increasingly viewed as a way to protect your assets in the event of a divorce. Marriage usually means combined finances in many cases, but sometimes it makes sense to protect whats yours.

Couples look different now when compared to their counterparts of a few decades ago. In the past, prenups were used to protect the wealthy from gold diggers. In most cases, though, with men as the primary breadwinners and women staying home, and with partners marrying much younger (before either had amassed much personal wealth), few felt that a prenup was needed.

Thats changing now. Individuals are waiting longer to marry, even leaving second marriages aside. That means that both partners might have assets they want to protect. Dual incomes are more common, and a tendency to separate finances to some degree has increased over the years.

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Tags: Prenup

Florida law is not settled regarding noncompliance with conditions precedent to filing suit under an insurance policy, including whether a policyholder’s failure to submit a proof of loss bars the claim.

Under one theory, if a policyholder fails to submit the required proof of loss altogether and then files suit, the claim may be barred as a matter of law.

In Starling v. Allstate Floridian Insurance Company, the policyholder filed suit against the carrier after a claim was made for a house fire. The insured did not provide a proof of loss until after filing suit. The trial court granted summary judgment in favor of the carrier, and the Fifth District Court of Appeal affirmed. In Starling, the insured produced documents and even sat for an Examination Under Oath. During her examination, Ms. Starling explained that she did not submit a proof of loss because she did not have the information necessary to effectively value her claim. Despite the insured’s efforts, the court granted the insurer’s summary judgment.

Disagreeing with the majority opinion that the issue of compliance was is an issue of law, Judge Lawson cited the Fourth District Court of Appeal case, Haiman v. Feder

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Tags: Loss, Submit Proof

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. 1. Investing in tax liens 2. How much for housing? 3. Stuck in a rut 4. Choosing an investment house 5. Turning the economy around 6. Investing for youths 7. Reactivating old card 8. Auto loan credit question 9. Handling an inheritance 10. Philosophy reading list

I get two or three book suggestions from readers a day. Usually, one of them is related to personal finance, while the other one or two could be anything.

I just wanted to give a shout out to three great books readers have recommended to me and I’ve enjoyed in the past year: Where Men Win Glory: The Odyssey of Pat Tillman by Jon Krakauer, The Way of Kings by Brandon Sanderson, and Moonwalking with Einstein by Joshua Foer.

Reading a great book is one of my favorite experiences.

Q1: Investing in tax liens I have heard a lot about investing in tax liens as a risk free (?!) method to get an 18% or more return on your money or acquire the property. I am

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Tags: Mailbag, Reader Mailbag

I know a lot of us are going to be spending a lot of money holiday shopping over the next two months, so heres a great way to get $150 back. You just need to spend $1,000 in the first 90 days using the Discover More Card (I know a lot of you would do that even if it wasnt the holidays).

With a great bonus like this, the 5% cashback in rotating categories, and the extended warranties that buying with a credit card provides, I feel like youre missing out if you dont take advantage of a rewards card this holiday season.

I wouldnt ever recommend a card with a yearly fee, and this one comes with a 0% APR for 6 months, so check out the details and consider using this card and keeping that $150 for yourself this year.

• Limited Time Holiday Offer $150 Cashback Bonus when you spend $1,000 in the first 90 days*
• 0% intro APR on purchases and balance transfers for 6 months, then the variable standard purchase APR of 11.99% 20.99%*
• 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more. Limitations apply*
• Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
• Discover is ranked #1 in customer loyalty15 years in a row!

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Tags: 150, 150 Cashback

Its true that right now, due to the difficulties in the economy, expensive life events are being avoided. Many people are avoiding marriage, divorce and having kids in an attempt to reduce the impact on household finances. But could marriage actually be better for your finances than staying single?

If you both have income, combining finances can mean better financial stability. After all, you now have a more diverse revenue stream. If one of you loses a job, the other still has income to help support the household until the other partner can find a new job. Or, perhaps, two incomes offers the chance for one of you to cut back on the day job and start a side hustle, or work to develop passive income. All of this can lead to financial stability. Plus, with a combined income, your borrowing power increases, and you might get better offers for various services because of a higher income. And, dont forget that there are tax advantages to being married.

You can also see lower costs if you combine households.

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Tags: Marriage, Marriage Better

Today, November 12, 2011, marks seven years since the passing of the lovingly remembered Katrina “Katie” Froeschle. Earlier this week, the American Association of Public Insurance Adjusters sent a call out to remember Katie Froeschle and support her foundation:

The American Association of Public Insurance Adjusters “AAPIA” would like to announce its support for the Katie Froeschle Foundation.

Katie, a 2002 graduate of Florida State University, loved scuba diving, snow skiing, basketball, softball, and cooking. She played powder puff football, enjoyed deep sea fishing, and loved to spend time on the beach. Katie loved animals, particularly her pets, and had cats and loved dogs. After graduation, Katie was employed first by State Farm Insurance as an agent trainee, then by Travelers’ Insurance in an administrative position, and finally by Florida Farm Bureau Insurance Company as a claims adjuster. On November 12, 2004, Katie was murdered while adjusting a hurricane claim at a rental property in Tampa, Florida for her employer. The

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Tags: Froeschle, Katie Froeschle

Each week, I highlight ten things each week that inspired me to greater financial, personal, and professional success. Hopefully, they will inspire you as well.

1. Pumpkins Pumpkins are sitting on our front step. Our garden has more squash and similar vegetables than we know what to do with. Leaves are falling from the trees.

Yes, October is here. Thanks to Yaxzone for the great picture (better than my own of the pumpkins on our front step).

2. Garrison Wynn on the fear of change Change is scary and challenging. It involves upending things we hold dear. Yet, quite often, it can result in much better things. What can cause us to do such a thing?

“When the pain of what we are going through becomes greater than the fear of change, we change.” – Garrison Wynn

The trick is to realize just how much pain your current path is causing you and just how little you have to fear from the change.

3. Fitocracy If you’ve ever wanted a good online motivational tool to push you to exercise, sign up for the beta now. This is

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Tags: Ten, Ten Pieces