Don't waste your money.

Years ago, I was an Early Adopter for some electronics,  it mattered to me so much that I had to have the latest computers, or TVs – I always had to have the newest model. And while I did have some cool toys I still was able to make a down payment to buy my first house.

There are countless ways to waste your money, and you don’t have to be a shopoholic to fritter it away. Here are some of the most common ways people waste money, and some advice on how to stop spending money if you decide that you want to save.

Eat And Spend Smarter
Most of us recognize that it generally costs a lot more to eat out at a restaurant than it does at home. So common sense says, don't eat out as much as you eat at home. But even if you do limit meals and beverages to the occasional treat, there are still ways to save on your grocery bills.

Rule number one is to make a grocery  list before you head out. If both helps you stay focused on your needs – rather than those pricey impulse buys – and, if you make your list at home, you’ll avoid buying perishables you already have. 

Second rule is review the list at  the grocery store, and the third rule is only buy what is on the list.

Rather than paying a steep premium for those pre-cut veggies, pre-mixed salads, and other partially prepared convenience foods, do it yourself. A few other grocery shopping tips:

• House brands are cheaper – and often made at the same factory – as name brands.
• Clip and use coupons.
• Scan the flyers and stock up on non-perishable staples (toilet paper, soup, dried pasta, microwave dinners, etc.) when they go on sale.
• Buy in bulk, but only if you’ll be able to use it before it goes bad.
• Finally, make sure you follow that tried and true advice: never go grocery shopping on an empty stomach or you’ll end up with a cart full of unnecessary treats.

Be More Proactive With Your Financial Planning
One of the most common ways people waste money is in mismanaging how they handle their money. Miss a bill payment and you’ll be charged (high) interest and a penalty. Do it frequently and you’ll risk damaging your credit rating. Carry a balance on your credit card and, in most cases, you’ll be charged a very high rate of interest (up to 30 per cent or more depending on the card) backdated to the day of purchase. Withdraw cash from another bank’s ATM and you’ll get charged a service fee by both banks.

One way to avoid the first two charges is to apply for a line of credit – before you need it – so you’ll have it available for those times when your money cash flow falls short of your bills.

Choose Better Financial Products
Carrying the wrong credit or bank card is like throwing money away. You can get a leg up on your daily savings by choosing options that don’t charge fees, and earn rewards that actually help with daily affordability. Spend some time doing some research and  apply for cards that have low interest.

A look at Retirement homes and sexuality

First published in LeMonde and written by Manon Gauthier-Faure

In the Jacques Brel retirement home in Brittany’s town of Guipavas, Marcelle Plougoum looks at Jean-Noël Michel tenderly. They first met in a medical center for senior citizens, and have loved each other for three years in this modern residential community surrounded by gardens. “We stay together all the time,” Marcelle explains. “Being apart would drive us mad!”

The couple doesn’t sleep in the same bed, but can be together often thanks to a door connecting their rooms. They spend a lot of time in Marcelle’s room, tastefully decorated with photographs. But the one of his beloved Jean-Noël is carefully put away. Though the other residents know about their love affair, they do not dare flaunt it. “We don't show that we are involved, because people get jealous. We kiss only in the bedroom,” the old woman explains.

Relationships and sexuality remain taboo in retirement homes. After all, privacy is hard to come by in a place where the elderly need care and medical treatment daily.

So the French agency Elorn, which manages three retirement homes, has developed a special training seminar for caregivers to familiarize them with sexual and intimacy issues among the elderly. This initiative has been encouraged by French minister for the elderly Michèle Delaunay, and Elorn is also offering staff training in its two other retirement homes. 

These sessions allow caregivers, residents and families to meet and talk. The first meeting on July 14 drew 400 people and gathered sexologists, university professors and psychologists to discuss the subject. Corinne, one of the caregivers at the Ker Laouena retirement home, finds it very useful. “It did me a lot of good. We felt a little bit uncomfortable seeing old people kissing. It used to be a bit shocking, but it’s not anymore.”

Elorn director Eric Seguin is one of the project organizers. “The medical staff should be aware that sexual desire remains present for people even up to age 80 or 90,” he explains.

Valérie Daniel, a nurse at Ker Laouna who was present during the first training session, says that the residents often feel embarrassed about their sexuality. “Some of them have had platonic love lives.” 

Let’s talk sleeping arrangements

That bashfulness is why many residents don’t want to see drastic changes. Seguin says he would be willing to put two single mattresses together in the same room, giving couples the option to sleep either in double beds or in connecting rooms.

“It's always better to have larger rooms and connecting bedrooms,” resident Yvonne Bergot says cheerfully. She moved two years ago into Ker Louena on the seaside to be with her husband, who died in January.

Like Marcelle and Jean-Noël, the couple spent most of their time together, in either one of their two bedrooms. Not at night, though. “Sleep in the same bed? I never even thought of it,” Yvonne confides.

In the Jacques Brel residence, Marcelle and Jean-Noël don’t necessarily want to share a bed either, especially since they require different amounts of sleep. “The couples can also feel awkward regarding their children’s way of thinking,” says Seguin. “That's why one of the main purposes of the training is to help residents to stop feeling guilty.” 

Seguin believes the training will continue to be necessary as time goes on, if only for the staff. Resident profiles will no doubt change as children of the 1960s and homosexual couples arrive, and though “these people won't be shy about their sentimental and sexual lives, the staff’s mentalities need to evolve,” he says.

Another issue is life expectancy. Though right now women represent 90% of the residents at the three homes, men are expected to be as numerous as women in the years to come. And that means more coupling. 

Read the article in the original language.

Living Paycheck to Paycheck in Retirement Part one

In a recent study conducted by the American Payroll Association, 68% of the 30,600 people surveyed said they would have difficulty if their pay check was a week late. In other words, more than two-thirds of Americans are living paycheck to paycheck

 It is tough when this happens but I’ve been there, and I know one of the ways to get out of this situation is to track daily spending; I know this can be difficult. I advise you to do it, but if you don’t, for whatever reason, don’t let that stop you from fixing your finances. If you are going to track your income and expenses then use online tools such as Mint.com to help you or use software such as Quicken or other online budget tools.

My recommendation is that, whether or not you track your spending (and you should), at least do the following:

Adjust your attitude

For some, living paycheck to paycheck can be a lifestyle choice To help myself change your attitude toward money,  make a list of goals and rewards and creating a vision of what you can  have in the future made it easier to make better financial choices.

Start cutting

Sometimes it can be painless to cut back -- especially if you've been spending money on unnecessary things. Even a small income can go a long way if you make minor changes, such as eating in rather than dining out 

Look at discretionary spending. If you can’t find $100-200 to save per paycheck, then you need to cut some things from your spending. This is where tracking your spending comes in handy, but even if you don’t, you know some of the extras you spend on — cigarettes, coffee, snacks, candy, desserts, eating out, magazines, shopping for clothes or gadgets or toys or shoes, books, going out … these are just a few of the examples. I’m not saying you need to cut everything out, but if you can cut a few of them, or maybe just one at a time, that can add up. Then, take the money you didn’t spend on those discretionary items, and put that amount into savings each payday. Increase this over time.

Start saving now! The next most important step you can take, in the beginning, is to start a small savings account if you haven’t already. Begin depositing into it regularly, at least $100 per paycheck 

Pay off Debt.

One of the most popular ways to pay off your debt is the Debt Snowball method. You can use the Snowball Calculator to figure out which debts should be paid off first:

List out your debts and arrange them in order from smallest balance at the top to largest at the bottom. Then focus on the debt at the top, putting as much as you can into it, even if it’s just $40-50 extra (more would be better). When that amount is paid off, celebrate! Then take the total amount you were paying (say $70 minimum payment plus the $50 extra for a total of $120) and add that to the minimum payment of the next largest debt. Continue this process, with your extra amount snowballing as you go along, until you pay off all your debts. This could take several years, but it’s a very rewarding process, and very necessary.

Generally speaking you should attempt to pay off the debts with the highest interest rate first. This Snowball Calculator allows you to enter up to 20 different debts with their associated APRs, and the total amount you want to spend per month servicing your debts, and it'll work out the order in which you should pay them together with the monthly payments.

Make a budget.

I recommend using a simple spreadsheet. List all your regular expenses (rent, car, utilities, internet, etc.) and their amounts, and then your variable expenses (groceries, gas, eating out, etc.), and then your irregular expenses (things like car maintenance or medical that might not come up every month, but break them into estimated monthly expenses — if you spend $600 a year on car maintenance, budget a $50 monthly expense). Now match that up against your income. The expenses should be less.

Automate your bills. As much as possible, try to get your bills to be paid through automatic deduction. For those that can’t, use your bank’s online check system to make regular automatic payments. This way, all of your regular expenses in your budget are taken care of. Make sure that your savings is done the same way – automatic deduction.

Save for your irregular expenses. Some call it a Freedom Account, but the key to ensuring that you have smooth finances and that you stick to your budget is to take into account all your irregular expenses, such as insurance, car maintenance or repairs, gifts (think Christmas!), medical and other such things. List them out, estimate your annual spending, and begin saving for them each month. Again, if you spend $600 on car repairs, budget $50 a month for that expense, and put that amount in savings. You could set up different accounts for each expense in an online bank such as ING or Emigrant, or put it all in one account and use Money or Quicken or a spreadsheet to keep track of each. 

Then, and here’s the key, when these expenses come up, use that money for those expenses! That way, you can use your regular budget for the stuff it’s meant for, not for these “unexpected” expenses.

Use the envelope system for your variable expenses such as food and gas. This is optional, but it’s a good tip. I’ve been using it myself, and it works like a charm. Let’s say you set aside three amounts in your budget each payday — one for gas, one for groceries, one for eating out. Withdraw those amounts on payday, and put them in three separate envelopes. That way, you can easily track how much you have left for each of these expenses, and when you run out of money, you know it immediately. You don’t overspend in these categories. If you regularly run out too fast, you may need to rethink your budget.

Start thinking about your goals, and planning for them. When do you want to retire? How often do you want to travel? When do you want to buy that dream house? Do you want to save for your kids’ college education? Think about what you want in life, and start planning to save for them, especially once you’ve done all the above.

Retirement living

Retirement living arrangements may have to be flexible and many will break the traditional mould. Some people have embraced co-housing, where people band together to buy land, build a cluster of homes and share some responsibilities. Intentional communities - Beacon Hill Village in Boston is the pioneer - are grassroots organizations that support residents who want to age in place by providing services and a sense of community.

U.S. Census Bureau data shows about 4 million households inhabited by unrelated adults, but many of them are younger room-mates. However, a variation on the room-mate arrangement is cooperative housing, a legal partnership where all own, live in and manage the house. 

Cooperative housing is the quick and easy alternative to the larger community concepts It has many of the advantages, but there's a big difference in the level of community involvement and community-building effort required to make it work.

Aging alone is a challenge facing many Americans. One-third of baby boomers are not married, according to the National Centre for Family & Marriage Research at Bowling Green State University, which also reports that the divorce rate among adults ages 50 and older doubled between 1990 and 2009.

HOW COOP HOUSING WORKS IN CANADA

Housing cooperatives provide not-for-profit residential units for their members. Across Canada, more than 2,100 non-profit housing co-ops are home to about 250,000 people in more than 90,000 residences. In B.C., there are 264 co-ops with 14,698 residential units.

The members do not own equity in their housing. If they move, their home is returned to the coop, to be offered to another individual or family who needs an affordable home.

About half of coop households pay a lower reduced monthly rent (housing charge) geared to their income. Government funds cover the difference between this payment and the coop’s full charge. Other households pay the full monthly charge based on cost.

Because coops charge their members only enough to cover costs, repairs and reserves, they can offer housing that is much more affordable than average private-sector rental costs.

Coop housing also offers security. Coops are controlled by their members, who have a vote in decisions about their housing. There is no outside property owner.

A 2003 Canadian Mortgage and Housing Center study found that housing coops cost less to operate — about 14 percent less than municipal or private non-profit housing.

Over the years, federal and provincial governments have funded various programs to help Canadians create non-profit housing co-ops. The co-ops developed under these programs provide good quality, affordable housing. 

All coops in Canada operate under the following principles:

1. Open membership  Co-ops are open without exception to anyone who needs their services and freely accepts the obligations of membership.
2. Democratic control Co-ops are controlled by their members, who together set policy, make decisions and elect leaders who report to them. In primary co-ops, each member has one vote.
3. Economic participation All members contribute fairly to their co-ops, which they own in common. Co-ops pay a limited return (if any) on money people have to invest to become members.   Surpluses are held for the future and used to improve the co-op’s services.
4. Independence All agreements co-ops sign with outside organizations or governments should leave the members in control of the co-op.
5. Co-operative education Co-ops offer training to their members, directors and staff. Co-ops tell the public what they are and what they do.
6. Co-operation among co-operatives Co-ops work together through local, national and international structures to serve their members.
7. Community Co-ops meet members’ needs in ways that build lasting communities within and beyond each co-op.

SAVING MONEY

Co-ops come in various forms, but in general, they are not-for-profit housing for people who become members through a share purchase. Many co-ops offer a rental subsidy, paid by the government, based on 30 percent of income, for a portion of their units; the other units pay a rental amount that is determined based on costs. In some co-ops, such as the Athletes’ Village Housing Co-operative or the recently announced Fraserview Co-op, there are no government subsidies, but 25 percent of the units must be rented to low or moderate-income people who pay just 30 percent of their income. 

SOCIAL INTERACTION

Where I live can be a lonely place. Last year, the Vancouver Foundation surveyed city residents and found that one in four respondents felt alone more often than they would like, and one-third considered Vancouver a difficult place to make friends. One-third said they have little interest in getting to know their neighbours, while half said they don’t volunteer in their community. Most co-ops are designed to be inclusive of all residents. 

For example, members are expected to participate in everything from cleaning the common areas to sitting on the board of directors. One of the committees at the China Creek Co-op is a social committee, which plans community-building events, such as last year’s Christmas party that one of the community said attracted more than 60 people. One of the members said, “It actually bonds us. We spent $10,000 to retrofit our common room into a community kitchen that can have a sit-down dinner for 30 people. At our Christmas dinner, we do the whole thing with turkeys, hams — the whole nine yards”.

Retirement and good living

I came across an interesting site for Boomers called Retirement and Good Living and I thought I would recommend it to all of you. The following is taken from their about page. I found the site, interesting with some great links. I think you might as well. The link to the site is here

Retirement can and should be a rewarding time of life. We created this site to provide information for anyone of any age contemplating retirement including boomers, the silent generation and all who have already retired. Retirement is the time to enjoy life.

Use the menu bar above  to navigate through hundreds of pages of great topics and tools on retirement locations, finance/investments, health/exercise, travel, hobbies, part-time jobs, volunteering and much more.

Or click on the following quick links to jump directly to the topic of interest.

• Retirement Locations- Check out the top overseas and U.S. retirement locations as well as top biking routes, hiking trails, fishing spots, golf courses and world renowned casinos to enjoy your retirement.
   
• Latest Posts- Read the latest posts on health, finance, life and more
   
• Finance and the Markets- Get Retirement Investment information,Descriptions of various types of Investments, A Beginners Guide to Financial Statements, Retirement Plans, the Daily Dividend Report, the ETF Investing Report, the Insider Buying Report, the Market Movers Report, the Weekly Market Wrap Report and check current market data and other financial information.
   
• Health- Check out our pages about Exercise, Mental Health, Nutrition and more.
   
• Video Gallery- Watch videos on travel and retirement locations, finance and budget, exercise, hobbies and more.
   
• Calculators- Check out health calculators including the Body Fat calculator and financial calculators including the Retirement Budget calculator as well as several others.
   
• Mind Games- Keep your mind sharp with games including Sudoku, Concentration, Crosswords, Sudoku, Word Search and Solitaire
   
• Jobs and Volunteering- Look for volunteering opportunities or part time jobs.
   
• Latest News and Updates- Check out the latest on books, health, movies,music as well as sports, technology, the environment, science and more.

 
All this plus humor. Because without humor retirement can be very dull