Last week I was in Florida on a business trip when I received a phone call that my home had flooded filled with water from a faulty washing machine. My wife had started a load of laundry and then went to run a few errands, coming home after approximately three hours. It appears that the bottom tub of our Maytag washing machine either cracked or the water fill valve didn’t function correctly. By my calculations between 350 and 400 gallons of water poured into our home before my wife could shut the water off.

I arrived home 5 hours later to find a restoration company extracting as much water as possible from our carpet, but our engineered hardwood floors are completely shot, buckling at the joints already. The crew left 10 dryers and 2 dehumidifiers to run for the next three days. Just the cost of water extraction and use of the dryers and dehumidifiers will easily top $2,000 based on the cost sheet left by the restoration company. I’m glad I have very good homeowners insurance ^[2], though my deductible is, ironically … $2,000. Thanks goodness for my emergency fund ^[3].

Right now, I’m figuring that all the carpeting and hardwood flooring will have to be replaced because just 2 days later the carpet is already smelling musty. Chances are good we will also have to replace some cabinets and bookshelves that wicked water up into their sides. Also, our baseboards along the walls are swelling and I’m worried that the sheetrock will also have to be replaced to avoid the risk of mold.

It’s going to be a long couple of months and I promise to keep you posted on the way this claim is handled. Maybe we can learn something together. In the meantime, check out these great links of the week from my friends ^[4] in the blogging world and beyond:

• A U.K. based newspaper says that “Free speech can’t exist unchained. US politics needs the tonic of order ^[5]” … I thought we settled that with you Brits back 235 years ago then again 36 years after that. The “tonic of order” means censorship, plain and simple.
• Comprehensive List of Tax Hikes Under the New Health Care Laws ^[6] Get ready for less cash in your pocket.
• Along those same lines … 2011 Flexible Spending Account (FSA) Changes ^[7]
• Freedom ‘in decline worldwide’ ^[8] Washington-based Freedom House said it had documented the longest continuous period of decline since it began compiling the annual index nearly 40 years ago.
• Even GOOGLE founder Larry Page buys used ^[9] Who knew someone with billions and billions at his disposal could be so frugal?
• iShares ETF Returns vs. the Underlying Index ^[10]Some track very well, others … not so much.
• 2011 401k, 403b, and 457 Plan Contribution Limits ^[11] – What does 2011 have in store for employer-sponsored retirement plans? Looks like much of the same.
• Bill Paying Strategies To Help Find Your Spending Balance ^[12] How do you throttle spending and work on your savings plan? Some suggestions on how to prioritize your billing process.
• Quit Making Excuses and Start Making Opportunity ^[13] I love posts like these but the key is to quit reading them and get to work!
• Taking Care of Your Battle Buddies Through Life Insurance ^[14] – Don’t be a blue falcon by not purchasing life insurance ^[15] to protect your family.
• Blogger Tax Deductions You Should Be Looking For Come Tax Time ^[16] – As a blogger, there are a number of deductions you can be taking to make your taxable income lower.
• 12 Money Lessons For Kids and Parents Alike – Larry Winget delivers 12 must read money lessons for 2011
• Are You Responsible for Your Spouse’s Debt? ^[17] — Things can be complicated in a marriage, and this includes finances in some cases. When debt enters the picture, there are often many questions that come with it. This article will help you answer some questions related to debt and marriage.
• How Important is Income Diversification? Just ask anyone with a single source of income … and lost it.
• Emerging Market Risks ^[18] All may not be rosy in the world of emerging markets. Find out why.
• 2011 RRSP Contribution Limits And 2011 RRSP Contribution Deadline
• Discount Brokers vs Mutual Fund Companies ^[19] Which one is better and which will be the best choice for you?
• 2011 Federal Income Tax Brackets ^[20] – See where your income fits in the 2011 tax brackets.
• 2011 Energy Tax Credits for Home Improvements ^[21] There are still energy tax credits out there if you know what you’re doing.
• Stocks or Mutual Funds: Which Should I Buy? ^[22] It all depends on your personal expertise and your long term goals and objectives.
• Job Interviewing Tips and Advice ^[23]. Employers currently have the upper hand and can be very selective. They will hold out for the cream of the crop because there are so many candidates to choose from. These are some tips to help YOU be the cream of the crop. Be sure and use The Inner View of Your Interview ^[24] to help you get a leg up!
• Jobless claims hit a 10-week high last week ^[25] while producer prices shot up in December, pointing to a tough go for job seekers. All the more reason to get your copy of The Inner View of Your Interview ^[24]!

Enjoy the links and say a prayer for us as the insurance adjuster arrives tomorrow.

About the author

Ron has written 1082 articles on The Wisdom Journal.

The founder and editor of The Wisdom Journal ^[26] in 2007, Ron has worked in banking, distribution, retail, and upper management for companies ranging in size from small startups to multi-billion dollar corporations. He graduated Suma Cum Laude from a top MBA program and currently is a partner in a national building materials company.

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