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It's great to have you here on the Clark Howard Show where it's about you and your wallet.

I want you to learn ideas to me so that you can keep more of what you make.

Clark.com is our web address.

ClarkDeals.com is where you find the latest deals, the latest bargains for your wallet.

Coming up in 20 minutes, how'd you like to have your wallet emptied by a clerical error?

Well, that just happened to a lot of people when their homeowner is insurer emptied their wallet.

I'm going to tell you what you need to know in 20 minutes in today's Clark Regist moment.

Later this hour, there's a reason I want you to be wary of these three year deals that are being touted

where you sign a long-term contract for Internet service at your home or business.

I want to tell you why they're rushing to get you to sign these long-term contracts with huge early termination penalties.

Right now, I want to talk about something that is likely not on your mind.

But just a little while ago, Puerto Rico filed for the federal equivalent of bankruptcy.

Puerto Rico has been a financial wounded duck for years and it's finally come to a head.

In Puerto Rico has somewhere around $125 billion in obligations they can't pay for.

125 billion.

And Puerto Rico's beautiful island has a very small population.

Population is smaller than a lot of our nation's metro areas, but has debt levels that are typically 20 times what a city of comparable size would have.

It's because of promises made over the years by one government after another.

And they didn't have the money to pay those promises.

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