Placeholder Content Image

4 strategies to keep you from overspending this holiday season

<p><em><a href="https://theconversation.com/profiles/johanna-peetz-1494248">Johanna Peetz</a>, <a href="https://theconversation.com/institutions/carleton-university-900">Carleton University</a></em></p> <p>The urge to spend money is present all year round, but during the gift-giving season, the temptation to splurge on loved ones can be particularly strong. For many, the desire to be generous during the holidays clashes with the need to conserve funds for essential expenses.</p> <p>This year, money is tighter than ever, with <a href="https://www150.statcan.gc.ca/n1/daily-quotidien/231121/dq231121a-eng.htm?indid=3665-1&amp;indgeo=0">high prices for groceries, housing and entertainment</a> leaving shoppers with reduced funds as the holiday season descends upon us.</p> <p>A growing number of individuals are feeling the financial squeeze, with 40 per cent of Canadians <a href="https://www.bnnbloomberg.ca/financial-stress-is-impacting-the-mental-health-of-canadians-survey-1.1933491">citing money as their main source of stress</a>. <a href="https://newsroom.bmo.com/2023-11-08-78-Per-Cent-of-Canadians-Plan-to-Cut-Back-on-Holiday-Spending,-but-a-Third-Will-Still-Give-Back-to-Charitable-Causes-BMO-Survey">Seventy-eight per cent of Canadians</a> plan on buying fewer gifts this holiday season and 37 per cent are worried they won’t be able to afford all the items on their holiday shopping lists.</p> <p>Given that <a href="https://doi.org/10.3389/fpsyg.2022.790434">pricier gifts are not necessarily more appreciated by the person receiving the gift</a>, what are some ways shoppers can resist the temptation of appealing, yet expensive, gift options that might strain their finances?</p> <p>As a social psychologist who studies personal spending, I think it is worthwhile to remind ourselves of self-control strategies that can help us manage financial decisions during the holiday season.</p> <h2>Strategies for resisting temptation</h2> <p><a href="https://doi.org/10.1177/1745691615623">Self-control is not just suppressing temptation</a>; it also involves setting yourself up for success by creating situations that make resisting temptations easier.</p> <p><strong>1. Avoid temptations</strong></p> <p>Perhaps the most obvious strategy is to avoid shopping temptations. This may include steering clear of places — both physical and online — that are out of your budget range. While this is easier said than done during gift shopping, it’s an effective way to manage temptations: People who report having an easier time with self-control <a href="https://doi.org/10.1016/j.paid.2014.09.031">tend to avoid rather than resist temptations</a>.</p> <p><strong>2. Make a budget</strong></p> <p>If you haven’t sat down to make a holiday budget yet, it’s never too late to make one. Considering one-quarter of Canadians are <a href="https://globalnews.ca/news/10087745/canadian-holiday-spending-debt/">still paying off last year’s holiday debts</a>, being as fiscally responsible as possible is a wise choice this year.</p> <p>Setting spending limits ahead of time makes your financial goals clear and explicit. When setting budgets for gifts <a href="https://doi.org/10.1093/jcr/ucad011">people tend to spend the entirety of the estimated amount (unlike budgets for personal purchases where they try to come in under the budget)</a>. It’s good to be realistic, rather than optimistic, when setting budgets.</p> <p><strong>3. Implementation intentions</strong></p> <p>Anticipate any potential shopping temptations you are likely to encounter so you can develop strategies to resist them. One effective approach is <a href="https://kops.uni-konstanz.de/server/api/core/bitstreams/14cc2a36-5f01-4dc1-b9ca-f2d0ca0c8930/content">forming intentions</a> about how you will act once you encounter a temptation.</p> <p>For example, you might consider what you will do when you see a gadget your friend would enjoy when you have already bought them something and have reached the limit of your budget. Instead of purchasing it and exceeding your budget, you could write down the gadget for next year’s gift.</p> <p><strong>4. Write a list</strong></p> <p>Finally, thinking ahead to the gifts you plan to buy and writing a shopping list rather than relying on being inspired in the store might help with sticking to a budget. <a href="http://dx.doi.org/10.1007/s11747-019-00670-w">Consumers spend thousands each year on impulse purchases</a>. Writing shopping lists, <a href="https://doi.org/10.1002/cb.1812">even for online shopping</a>, can reduce overall spending and shopping regret.</p> <h2>The best strategy is the one that works</h2> <p>The holidays should be about joy, not financial stress. Maintaining self-control allows you to celebrate without compromising your financial well-being.</p> <p>There are of course many strategies beyond the four strategies listed here that can help create situations where resisting temptations is easier. The most effective strategies for maintaining financial self-control <a href="https://doi.org/10.1016/j.jesp.2021.104189">are the ones you are already using</a>, and the ones <em>you</em> find most effective. If you want to avoid giving in to shopping temptations, take a moment to think about the financial strategies you are already using and think about how you might use them in your holiday shopping.</p> <p>If you haven’t yet found a strategy that works for you, now is a great opportunity for you to try some out and see which ones are effective. Using strategies to manage the cost of holiday spending can prevent gift-giving from becoming a financial stressor in an already stressful time.</p> <p>Finally, while adhering to a budget is important, it shouldn’t be the sole or primary focus during holiday shopping. Keep in mind that the true spirit of the season is spending quality time with loved ones. The joy of the holidays doesn’t come from extravagant gifts, but from shared moments and meaningful connections.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/219380/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/johanna-peetz-1494248"><em>Johanna Peetz</em></a><em>, Professor in Psychology, <a href="https://theconversation.com/institutions/carleton-university-900">Carleton University</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/4-strategies-to-keep-you-from-overspending-this-holiday-season-219380">original article</a>.</em></p>

Money & Banking

Placeholder Content Image

How the right property strategy can help you retire with peace of mind

<p>If the pandemic has taught us anything, it’s that we need to have a backup plan in place when it comes to our financial situation. In the early days of the lockdowns, people were unable to work and just how financially vulnerable most people are was laid bare for all to see.</p> <p>While this might have been exceptional circumstances, what we do know is that 56 per cent of Australians do not have enough money to retire. For most people, retirement is not a shock. We know it’s coming and approximately when. The issue is that people simply don’t put enough focus on it early enough and end up without enough money put away.</p> <p>For that reason, it might be worth looking at an asset like property to help accelerate your journey to financial security. Here’s how.</p> <p><strong>Invest wisely</strong></p> <p>The most important realisation that most people need to make is that trading time for money is not going to get you where you need to go. While saving diligently and sticking to a budget are critical components of wealth building, ultimately it’s where you put that money to work which is the most critical element. The traditional retirement model involves putting away a portion of your weekly income and investing that into a balanced portfolio of stocks and bonds through a superannuation fund.</p> <p>While this is a good thing to do and we know that stocks, in particular, have increased in value over time, it’s missing one of the most powerful elements that can really help your investments grow - that’s leverage.</p> <p>The great thing about property is that you can typically put down a relatively small amount of money and control a much larger asset. Typically that would be a 10-20 per cent deposit not including other costs such as stamp duty and closing costs.</p> <p>What this effectively does is increase the return on your money thanks to the power of leverage. While a stock portfolio might increase in value over time, you still have to invest 100 per cent of the funds.</p> <p>By using debt in an intelligent way, you’re able to borrow from the banks to help accelerate your wealth building. For example, if your property increases in value by 5 per cent and you put down a 20 per cent deposit, your cash has actually grown by 25 per cent.</p> <p><strong>Strategy is key</strong></p> <p>You don’t typically go out and try to purchase one property and then retire. For most average income earners, this is going to be a process that takes place over time.</p> <p>It’s vital that you look to invest in property in the correct way with a strategy that is going to allow you to reach your financial goals over time.</p> <p>In the early stages of building your portfolio, you are doing everything in your power to acquire properties. This will involve both working and saving to help fund the early deposits and you’ll also be working within the limitations of what a bank will allow you to borrow.</p> <p>Depending on how risk-averse you might be, you will look to purchase properties more or less aggressively. During this stage, you will normally be buying multiple lower-priced properties to capitalise on the higher yields combined with growth.</p> <p>You are able to use the increased equity from your early purchases to continue to buy more properties and expand your portfolio. During this stage, getting the overall balance right between growth and cash flow is critical as you will need capital growth to continue buying and enough rental income to be able to maintain your serviceability and pay the costs of holding the properties. Having a diversified portfolio spread across the country also helps to reduce risk and can improve the odds of growth.</p> <p>Once you’ve built up a solid base of properties and you’ve seen your portfolio appreciate in value to where you’ve hit your goal, you can then begin the process of deleveraging and paying down your outstanding debt by selling some of the properties in the portfolio.</p> <p><strong>Why most people fail</strong></p> <p>The main reason 90 per cent of property investors fail to build a property portfolio that is able to provide a passive income that they can live off, is because they undertook the wrong strategy to begin with.</p> <p>Most people are typically able to purchase 1-2 properties before they run into borrowing capacity issues or a lack of capital growth. This keeps them stuck at this level unless they can increase their income - which was the very issue they were trying to avoid in the first place.</p> <p>Serious property investors treat property as a business and do not just purchase any old property and hope for the best. They build out a detailed plan about how they are going to reach their financial goals and what the steps are they are required to take.</p> <p>Additionally, they target certain locations that provide a combination of strong growth potential and cash flow and build a portfolio that always considers both factors.</p> <p>They also don’t do everything by themselves. They look to surround themselves with a team of professionals who can help them in all areas of their journey. This normally includes a mortgage broker, lawyer, accountant, financial advisor and buyers agent. </p> <p>If you’re going to be one of the 1 per cent of people who are able to retire financially free thanks to property - you can. </p> <p>You simply need to forget about speculating on property and start treating it like a business and work with a strategy that is going to get you there.</p> <p><strong><em>Rasti Vaibhav is the author of The Property Wealth Blueprint (RRP $39.95) and CEO of Get RARE Properties, a bespoke independent buyers’ agency that has been helping hundreds of clients across Australia secure their financial freedom through property. For more information visit <a href="http://www.getrare.com.au">www.getrare.com.au</a></em></strong></p> <p><em>Image credits: Getty Images</em></p>

Real Estate

Placeholder Content Image

How to care for ageing parents: Strategies for the sandwich generation

<p><strong>The burden of the sandwich generation</strong></p><p>Mum hurt her foot. That’s the only detail you can lure out of her over the phone, which right now makes the distance between the two of you feel that much farther. She’s limping and doesn’t want to go to a doctor.</p><p>Instead, she wants you to look at it, ignoring the fact that you have a full-time job, two kids and, oh yeah, you live three hours away. Sound familiar? Managing the seniors in your life, whether it’s helping them through their health problems or clearing up insurance issues, is the burden of the sandwich generation.</p><p>So how can you care for ageing parents when you’re far from home and juggling the responsibility of raising your own family? Here are some strategies from professional caregivers that can help you to help them – even if you live on opposite sides of the country.</p><p><strong>Make a plan for senior care before it becomes an issue</strong></p><p>“The older generation can be secretive, but the sandwich generation is more open and aware that communication is important,” says Karen Seebach, a nurse advisor with a caregiver support service.</p><p>“You need to have a conversation in advance about what they would like to do as they age. Do they want to stay in their home? Does someone have power of attorney? These conversations are very important to start early on.”</p><p><strong>Read between the lines</strong></p><p>Dad says he’s fine on the phone, but you suspect he’s not taking his medications. The litmus test? Look for a change in the way he communicates.</p><p>“If a parent is usually chatty and has become quieter, that’s something you need to pay attention to,” says Luanne Whitmarsh, chief executive officer at an organisation assisting seniors. Inconsistent communication from your ageing parent is a red flag that warrants deeper investigation.</p><p><strong>Create a support network</strong></p><p>You might be tempted to take the day off work to check out that sore foot your mum was complaining about – and you’re not alone. Many caregivers who live more than a half day’s travel away from their ill parent are missing full days of work to help provide care.</p><p>Instead, get to know the people who interact with your ageing parents day to day. “Become familiar with the neighbours or a house cleaner or something like that,” suggests Whitmarsh. “This way, they can give you the real information you may not be getting.”</p><p><strong>Research senior outreach services</strong></p><p>“The more isolated a senior becomes, the more risk there is,” says Joanne Toller, senior fund developer with a seniors resource group.</p><p>She suggests doing homework on behalf of your ageing parents to find outreach services in their area or organisations that can provide referrals to services that can help seniors with day-to-day tasks. These might include driving services, foot care clinics (look for brochures at doctor’s offices and walk-in clinics) and meal delivery services.</p><p>More support can be found by making inquiries with the local municipal government, service clubs and churches.</p><p><strong>Speak with your own doctor</strong></p><p>Mum’s sounding much more confused lately and you’re worried about dementia. You could call your mum’s physician to discuss the issue, or, as Whitmarsh suggests, you could express your concerns to your own doctor, with whom you already have a relationship.</p><p>Explain what you’ve observed and share the contact information for your mother’s doctor. “Doctor to doctor, they have a way better way of communicating and have a given level of trust,” Whitmarsh says.</p><p><em>Image credits: Getty Images</em></p><p><em>This article originally appeared on <a href="https://www.readersdigest.com.au/true-stories-lifestyle/relationships/how-to-care-for-ageing-parents-strategies-for-the-sandwich-generation" target="_blank" rel="noopener">Reader's Digest</a>. </em></p>

Family & Pets

Placeholder Content Image

7 science-based strategies to cope with coronavirus anxiety

<p>As the SARS-CoV-2 virus continues its global spread and the number of diagnosed COVID-19 cases continues to increase, anxiety related to the outbreak is on the rise too.</p> <p><a href="https://scholar.google.com/citations?user=jlev7ekAAAAJ&amp;hl=en&amp;oi=ao">As a psychologist</a>, I am seeing this in my practice already. Although feeling anxiety in response to a threat <a href="https://doi.org/10.1037/0033-295X.105.2.325">is a normal human reaction</a>, sustained high anxiety can undermine constructive responses to the crisis. People who already suffer from anxiety and related disorders are especially likely to have a hard time during the coronavirus crisis.</p> <p>The following suggestions, based on psychological science, can help you deal with coronavirus anxiety.</p> <p><strong>1. Practice tolerating uncertainty</strong></p> <p>Intolerance of uncertainty, which has been <a href="https://doi.org/10.1080/16506073.2018.1476580">increasing in the U.S.</a>, makes people <a href="https://doi.org/10.1586/ern.12.82">vulnerable to anxiety</a>. A <a href="https://doi.org/10.1111/bjhp.12058">study during the 2009 H1N1 pandemic</a> showed that people who had a harder time accepting the uncertainty of the situation were more likely to experience elevated anxiety.</p> <p>The solution is to learn to gradually face uncertainty in daily life by easing back on certainty-seeking behaviors.</p> <p>Start small: Don’t text your friend immediately the next time you need an answer to a question. Go on a hike without checking the weather beforehand. As you build your tolerance-of-uncertainty muscle, you can work to reduce the number of times a day you consult the internet for updates on the outbreak.</p> <p><strong>2. Tackle the anxiety paradox</strong></p> <p><a href="https://doi.org/10.1016/j.beth.2014.07.001">Anxiety rises</a> proportionally to how much one tries to get rid of it. Or as Carl Jung put it, “<a href="https://www.routledge.com/C-G-Jung-The-Basics/Williams/p/book/9781138195448">What you resist persists</a>.”</p> <p>Struggling against anxiety can take many forms. People might try to distract themselves by drinking, eating or watching Netflix more than usual. They might repeatedly seek reassurance from friends, family or health experts. Or they might obsessively check news streams, hoping to calm their fears. Although these behaviors can help momentarily, they can <a href="https://doi.org/10.1111/j.1468-2850.2010.01213.x">make anxiety worse</a> in the long run. Avoiding the experience of anxiety almost always backfires.</p> <p>Instead, allow your anxious thoughts, feelings and physical sensations to wash over you, accepting anxiety as an integral part of human experience. When waves of coronavirus anxiety show up, notice and <a href="https://www.newharbinger.com/mindfulness-based-stress-reduction-workbook-second-edition">describe the experience</a> to yourself or others <a href="https://www.uclahealth.org/marc/body.cfm?id=22&amp;iirf_redirect=1">without judgment</a>. Resist the urge to escape or calm your fears by obsessively reading virus updates. Paradoxically, facing anxiety in the moment will lead to less anxiety over time.</p> <p><strong>3. Transcend existential anxiety</strong></p> <p>Health threats trigger the fear that underlies all fears: <a href="https://wwnorton.com/books/9780393350876">fear of death</a>. When faced with reminders of one’s own mortality, people might become consumed with health anxiety and hyperfocused on any signs of illness.</p> <p>Try connecting to your life’s purpose and sources of meaning, be it spirituality, relationships, or pursuit of a cause. Embark on something important that you’ve been putting off for years and take responsibility for how you live your life. Focusing on or discovering <a href="https://doi.org/10.1002/smi.1095">the “why” of life</a> can go a long way in helping you deal with unavoidable anxiety.</p> <p><strong>4. Don’t underestimate human resiliency</strong></p> <p>Many people fear how they will manage if the virus shows up in town, at work or at school. They worry how they would cope with a quarantine, a daycare closure or a lost paycheck. Human minds are good at predicting the worst.</p> <p>But research shows that people tend to <a href="https://doi.org/10.1111/j.0963-7214.2005.00355.x">overestimate how badly they’ll be affected</a> by negative events and <a href="http://bit.ly/3cFFkIk">underestimate how well they’ll cope with</a> and adjust to difficult situations.</p> <p>Be mindful that you are more resilient than you think. It can help attenuate your anxiety.</p> <p><strong>5. Don’t get sucked into overestimating the threat</strong></p> <p>Coronavirus can be dangerous, with an estimated <a href="https://doi.org/10.1056/NEJMoa2002032">1.4%</a> to <a href="https://doi.org/10.1001/jama.2020.2648">2.3%</a> death rate. So everyone should be serious about taking all the <a href="https://theconversation.com/what-really-works-to-keep-coronavirus-away-4-questions-answered-by-a-public-health-professional-132959">reasonable precautions against infection</a>.</p> <p>But people also should realize that humans tend to <a href="https://doi.org/10.1111/1539-6924.00276">exaggerate the danger of unfamiliar threats</a> compared to ones they already know, like seasonal flu or car accidents. Constant incendiary media coverage <a href="https://doi.org/10.1093/eurpub/ckp061">contributes to the sense of danger</a>, which leads to heightened fear and further <a href="https://doi.org/10.1111/j.1467-8721.2006.00461.x">escalation of perceived danger</a>.</p> <p>To reduce anxiety, I recommend limiting your exposure to coronavirus news to no more than 30 minutes per day. And remember that we become more anxious when faced with situations that have no clear precedent. Anxiety, in turn, makes everything seem more dire.</p> <p><strong>6. Strengthen self-care</strong></p> <p>During these anxiety-provoking times, it’s important to remember the tried-and-true anxiety prevention and reduction strategies. Get <a href="https://doi.org/10.5665/sleep.2810">adequate sleep</a>, <a href="https://doi.org/10.1016/j.amepre.2019.05.012">exercise regularly</a>, <a href="https://doi.org/10.1016/j.brat.2017.12.002">practice mindfulness</a>, <a href="https://theconversation.com/anxiety-and-depression-why-doctors-are-prescribing-gardening-rather-than-drugs-121841">spend time in nature</a> and <a href="https://doi.org/10.1186/1471-244X-8-41">employ relaxation techniques</a> when stressed.</p> <p>Prioritizing these behaviors during the coronavirus crisis can go a long way toward increasing your psychological well being and <a href="https://theconversation.com/a-strong-immune-system-helps-ward-off-colds-and-flus-but-its-not-the-only-factor-99512">bolstering your immune system</a>.</p> <p><strong>7. Seek professional help if you need it</strong></p> <p>People who are vulnerable to anxiety and related disorders might find the coronavirus epidemic <a href="https://doi.org/10.1007/s10608-015-9701-9">particularly overwhelming</a>. Consequently, they might experience anxiety symptoms that interfere with work, maintaining close relationships, socializing or taking care of themselves and others.</p> <p>If this applies to you, please get professional help from your doctor or a mental health professional. <a href="https://doi.org/10.1016/j.psc.2010.04.002">Cognitive behavioral therapy</a> and <a href="https://doi.org/10.1002/msj.20041">certain medications</a> can successfully treat anxiety problems.</p> <p>Although you might feel helpless during this stressful time, following these strategies can help keep anxiety from becoming a problem in its own right and enable you to make it through the epidemic more effectively.<!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><span><a href="https://theconversation.com/profiles/jelena-kecmanovic-472294"><em>Jelena Kecmanovic</em></a><em>, Adjunct Professor of Psychology, <a href="https://theconversation.com/institutions/georgetown-university-1239">Georgetown University</a></em></span></p> <p><em>This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/7-science-based-strategies-to-cope-with-coronavirus-anxiety-133207">original article</a>.</em></p>

Body

Placeholder Content Image

4 simple strategies to reclaim your attention and look up

<p><span>After a period living and volunteering in the far north of India, Australian primary school teacher Hugh van Cuylenburg was blown away by the remarkable positivity of the comparatively underprivileged locals. How was it, he wondered, that young people he knew at home, who had food, shelter, friends and a loving family, struggled with their mental health, while these kids seemed overwhelmingly happy? This experience led him on a journey to find answers to this question.</span></p> <p><span>Years of study, research and questions followed and, through this, van Cuylenburg came to understand that practising gratitude, empathy and mindfulness leads us to happier and more fulfilling lives. </span><span>Backed by evidence-based analysis and inspiring personal anecdotes, <em>The Resilience Project</em> brings these life-changing messages to life for an ever-broadening audience. In the passage below, van Cuylenburg offers four tips to help reclaim our attention, look up from our devices and better experience the incredible real world that surrounds us.</span></p> <p><span>**</span></p> <p><span>A 2017 Deloitte survey found Australians checked their phones more than 35 times a day on average, an increase of around 17 per cent on just the year before. Thirty-five per cent of us check our phone within five minutes of waking up in the morning, and 70 per cent use phones during mealtimes with family and friends.</span></p> <p><span>Needless to say, it’s extremely hard to be mindful and mentally present when some of the world’s biggest media corporations are trying to rip our time and attention from our hands. Smartphones are here to stay, and so is social media. And they’re not the only threats; in 2018, the World Health Organization classified gaming addiction as a mental health disorder. Our kids are copping it from everywhere.</span></p> <p><span>That’s the bad news. The good news is that we are not powerless, and the other side of this shiny technological coin has many benefits that can help enrich our lives. But we need to be careful. There are four simple strategies that I strongly recommend you try, so you can reclaim much of what the attention economy has taken from you:</span></p> <p><strong><span>1. Delete Facebook from our phones</span></strong></p> <p><span>On 2 July 2018, I dumped Facebook from my mobile and vowed only to look at it when I was using my laptop. I haven’t been on Facebook since, and it’s not because I’m trying to avoid it – I’m just not as easy a target for Mark Zuckerberg’s addiction engineers as I was when I had Facebook in my pocket.</span></p> <p><span>The decision to delete the app was a life-changer. I didn’t feel that I was any less connected to the people I wanted to connect with, and I realised I had spent most of my time on Facebook looking at garbage – stuff that, if someone asked me to check out in real life, I’d laugh at and walk away. I’ve often wondered how I’d react if I walked past a cafe, saw a friend and they said, ‘Just in time! My coffee has arrived. Would you like to see how it looks from directly above?’</span></p> <p><strong><span>2. Turn off notifications</span></strong></p> <p><span>There is no reason whatsoever to have notifications on our phones switched on. The only reason they exist is to suck us back into the app abyss. We don’t need to know every single time someone has liked a photo, sent us a message, commented on a thread we’re following or tagged us on Twitter. It’s getting to the point where we don’t really decide when we check our phones; our phones are deciding for us – more than 35 times a day!</span></p> <p><strong><span>3. Rearrange our home screens</span></strong></p> <p><span>The only apps we should have on our home screens are ones we’re not addicted to. Once you clear all the addictive stuff off your home screen, you’ll be amazed how few things you really ‘need’ on your phone. In my case I was left with just three apps: music, podcasts and Google Maps. That’s it. Everything that has an addictive component I have placed in a separate file on the sixth screen across labelled ‘Regret’.</span></p> <p><strong><span>4. Leave home without our phones</span></strong></p> <p><span>When we disconnect from our phones we reconnect with life. Thanks largely to persuasive technology we’ve been conditioned to think we can’t be without them. When we leave home these days we check that we have our keys, wallet, sunnies and… ‘Where’s my bloody phone?’</span></p> <p><span>A few years back I started leaving mine at home at every opportunity. OK, often I need my phone for work, but do I need it if I’m going out to dinner? Going for a run? To the movies? Cricket training? Phones only serve to interrupt these moments and derail the joy of being present with the people we’re with, even if that person is ourselves.</span></p> <p><span>Not long after setting myself the rule about limiting my phone use, I caught up with a mate at a pub in Fitzroy.</span></p> <p><span>It was a very quiet night at the pub as I sat at the bar and swapped stories with my mate. After a while he got up to go to the gents’. ‘Back in a sec,’ he said and disappeared. Suddenly I was one of only a few punters in the entire pub. Like Pavlov’s dog I reached into my pocket to get my phone, and I actually felt annoyed that I’d left the thing at home.</span></p> <p><span>I had nothing to do for the next minute or so. It was a strange feeling, like the world had stopped. ‘How did we not look weird when we were sitting without anything to do, in the time before smartphones?’ I pondered. That’s when I noticed the barman just a few feet away, cleaning a pint glass.</span></p> <p><span>‘How’s your night going?’ I inquired. ‘It’s pretty quiet – you must love that?’</span></p> <p><span>‘No,’ he said, ‘I actually prefer it when it’s busy.’</span></p> <p><span>‘Really?’</span></p> <p><span>‘Yeah,’ he said. ‘I’m just going through some difficult stuff at the moment and when it’s really quiet I can’t get it out of my head, but when it’s busy I escape it for a bit.’</span></p> <p><span>Suddenly I was in the midst of a serious moment with a fellow human being, and the world felt very full again. ‘Oh,’ I said, giving him my complete attention. ‘Are you alright?’</span></p> <p><span>‘No, not really,’ he replied. ‘I’m just going through a breakup and it’s pretty full-on at the moment.’</span></p> <p><span>‘I’m really sorry about that,’ I said. ‘I know exactly how that feels. It’s awful.’</span></p> <p><span>The barman and I were still talking about his situation five minutes after my mate returned.</span></p> <p><span>‘Anyway,’ he said as a couple of customers appeared at the other end of the bar, ‘I’ll let you guys get back to it.’</span></p> <p><span>‘Take care of yourself, mate,’ I said as he turned to serve the others. He flashed me a little thumbs up.</span></p> <p><span>When I got home later, all I could think was, ‘Thank God I left my phone here.’ The barman clearly needed to reach out and make that connection in that moment; as soon as I opened my mouth to speak to him he grabbed the opportunity with both hands. If I’d had my phone with me, that conversation would never have happened. I’d have buried my head in the internet, and if the barman had wanted to talk about his emotional problems he’d have had to lean over and say, ‘Excuse me, do you want to talk about my breakup for a minute?’</span></p> <p><span>Increasingly, over the past ten years, more and more of us have been using social media to try to fulfil our basic psychological needs: the need to feel loved, to feel like we belong, to feel validated and achieve degrees of social status.</span></p> <p><span>If we’re hungry for love, we post a photo of ourselves and all people have to do is press a heart button to let us know they approve. If it’s status we crave, we can simply add a ‘status update’ to show people we aced the job interview, took the holiday, skied down the mountain or welcomed the child. In return we hope our screens will bloom with little blue thumbs to feed our psychological hunger.</span></p> <p><span>But it doesn’t really nourish us. The flesh-and-blood thumbs up that the barman at the Union Club Hotel gave me meant more than a million likes on Facebook could. I imagine our talk that night meant much more to him than a sad-face emoji, too. This was an everyday illustration of the benefits of communication and social connection, something I am passionately advocating for day in, day out at The Resilience Project.</span></p> <p><em><span>Extract from </span></em>The Resilience Project<em><span> by Hugh Van Cuylenburg, published by Ebury Australia on 19 November 2019, RRP 34.99</span></em></p>

Books

Placeholder Content Image

This new super strategy could help you save big on life insurance

<p>Not long ago, a CSIRO study found that most retirees live frugally and die with large super balances. In fact, it’s been said that <strong>over 50% of Australians</strong> will be dead by the time they’re able to access their super. This is a far cry from the ideal retirement lifestyle many of us dream of for ourselves, full of joy, travel and financial freedom.</p> <p><strong>With the skyrocketing costs of various bills, insurances and the general cost of living, it’s no surprise older Aussies are feeling the pinch</strong>. So what can we do about it?</p> <p>Remember, you should consider all benefits and risks associated with any life insurance or superannuation product.</p> <p><strong>Here’s how you do it:</strong></p> <p><strong>Step 1:</strong> Select your current <strong>age below.</strong></p> <p><strong>Step 2:</strong> Once you answer a few questions, you will have the opportunity to compare quotes from up to 9 of Australia’s largest insurers. You may also be entitled to a free consultation.</p> <p><a href="https://lifeinsurancecomparison.com.au/form/stepn/#step1?utm_medium=sponsoredarticle&amp;utm_source=over60&amp;utm_campaign=october&amp;utm_term=super-strategy"><img style="width: 500px; height: 118.644px; display: block; margin-left: auto; margin-right: auto;" src="https://oversixtydev.blob.core.windows.net/media/7831637/test.png" alt="" data-udi="umb://media/1d0a38316b8b4eeea5f2c8ac103997d9" /></a></p> <p>On average, <strong>11% of Australians will die or be unable to work due to illness, injury or disability before retirement age</strong>. Yet not everyone feels prepared for this possibility, and most families suffer financially as a result.</p> <p>Australians who are currently struggling to fit life insurance into their budget may be able to benefit by integrating a policy into their super fund. It’s a strategy that allows you to have more buck in the bank for your lifestyle, but also have the peace of mind that your super is looking after both your future <em>and </em>your family.</p> <p><strong>Forget about sacrificing quality of life in retirement!</strong> This strategy has the potential to provide consumers with peace of mind without impacting their everyday costs of living. But always remember to consult with a financial adviser or representative before making an important decision pertaining to your super.</p> <p>It works simply like this: life insurance premiums are taken directly from the superannuation balance, instead of one of your personal accounts.</p> <p>This means that <strong>cover may be affordable even to those on a tight household budget</strong>, ensuring more Australians and their families can get protected. An additional benefit is that because this process is automatic, consumers don’t need to worry about remembering to pay their premiums on time.</p> <p>This is particularly useful for those whose financial incomes drastically change month to month, such as freelancers, contractors, casual workers or other groups.</p> <p>As part of the life insurance packages available via super, consumers can usually get Death Cover, Total and Permanent Disability (TPD), Income Protection and sometimes even an extra funeral benefit. Critical Illness and Trauma insurance, however, is usually not available through superannuation. Always check with your provider to see what benefits are available to you.</p> <p><strong>Bundling insurances in a superannuation account</strong> may be the perfect way you can balance your lifestyle and your family protection in one easy financial system.</p> <p>See what you can do within your super today.</p> <p><strong>Get started now:</strong></p> <p><strong>Step 1:</strong> Select your <strong>state below.</strong></p> <p><strong>Step 2:</strong> After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.</p> <p><strong><a href="https://lifeinsurancecomparison.com.au/form/stepn/#step1?utm_medium=sponsoredarticle&amp;utm_source=over60&amp;utm_campaign=october&amp;utm_term=super-strategy"><img style="width: 456.817px; height: 500px; display: block; margin-left: auto; margin-right: auto;" src="https://oversixtydev.blob.core.windows.net/media/7831174/altmedia_o60_map_1280.jpg" alt="" data-udi="umb://media/3d8089f2924f44e7888395bc59e1c1c9" /></a></strong></p> <p><a href="https://lifeinsurancecomparison.com.au/form/stepn/#step1?utm_medium=sponsoredarticle&amp;utm_source=over60&amp;utm_campaign=october&amp;utm_term=super-strategy"><em>LifeInsuranceComparison.com.au</em></a><em>'s online quote comparison tool makes it easy to get quotes from 10 Australia's biggest life insurers</em></p> <p><em>The information contained on this webpage is of general advice only and has been prepared without taking into consideration your objectives, needs and financial situation. As such, it is important that you consider the appropriateness of this advice before proceeding. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Advizer Pty Ltd.</em></p>

Money & Banking

Placeholder Content Image

Big W’s new strategy pays off

<p style="margin-top: 0cm; background: white; vertical-align: baseline;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Big W has struggled through a tough decade of sales but now, a new strategy is attracting shoppers back to the department store.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">The company reported its first positive sales growth in nearly a decade, with sales increasing by 0.7 per cent to $3.566 billion.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Big W’s losses also narrowed from $151 million last year to $110 million, a 27 per cent improvement in the bottom line.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Woolworths group chief executive Brad Banducci said on Monday that Big W’s comparable sales growth accelerated to 2 per cent in the last three months of the year because of the kids, home and seasonal apparel offerings.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“The fourth quarter was quite strange,” said Mr Banducci.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“(We had an) endless summer followed by a snap winter. It was a quarter of two halves, quite confusing.”</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Woolworths said by the end of the financial year, Big W had slashed prices on more than 4500 items, refreshed 165 stores, opened one new store and closed three struggling stores.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">The improvement in sales is also down to the department store choosing to “reset” its product ranges “in line with customers’ core needs”, while introducing click-and-collect to all stores.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Woolworths attributes lower prices, improved ranges and better digital offerings for a 3.5 per cent increase in the number of items purchased by each customer and a 1.4 per cent increase in the number of customer transactions.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Mr Banducci said that Big W’s turnaround “progressed in FY18”.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“Prices are significantly more competitive than this time last year, the majority of stores have been refreshed and the range is beginning to resonate with customers,” he said.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“In FY19, we expect a further reduction in losses as we continue to build momentum in the business but, as always, financial performance will depend on trading over the key Christmas period.”</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Big W CEO David Walker said the toy sale carrying over into July helped Big W have a strong start to the new financial year.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“The key challenge for us was obviously the late start to winter,” he said.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“Typically when winter starts late you don’t make up the sales. We were fortunate, we tailored our buy for winter and ended up finishing the year with lower inventory, so we’re in a good position now.”</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Despite the improvement, DGC Advisory retail analyst Geoff Dart said it was “too early to say it’s a turnaround”.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“They’ve certainly been doing a lot of promotional activity, but I’m still not convinced it’s sustainable. It’s pretty easy to buy sales, as Coles have found and are now paying the penalty. It’s important to look at the gross margins and the EBIT.”</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Mr Dart said Big W needs to go slightly up-market to avoid competing with Kmart and instead take market share from Target and Myer.</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">“Kmart absolutely own cheap and cheerful, Target is cheap fashion, Myer has failed to hold the middle ground,” he said. “I think the big opportunity is to cannibalise Myer.”</span></p> <p style="margin-top: 0cm; background: white; vertical-align: baseline; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;"><span style="font-size: 11.5pt; font-family: 'Helvetica',sans-serif; color: black;">Do you shop at Big W? Let us know in the comments below. </span></p>

Money & Banking

Placeholder Content Image

The Queen’s secret: Meghan at centre of clever royal strategy

<p>The royal wedding was watched by millions around the world last weekend, and the Queen had every reason to smile as the wonderful ceremony took place at Windsor Castle.</p> <p><a href="http://www.news.com.au/" target="_blank"><span style="text-decoration: underline;"><em><strong>News.com.au reports</strong></em></span></a> many royal commentators believe this could be a game-changer for the royal family, giving them a new degree of relevance moving into the 21st century.</p> <p>“I think it shows they are able to change,” writer and royal expert Stephen Bates told news.com.au.</p> <p>“Maybe they don’t change as quickly as other institutions, but the idea that a divorced American of mixed race who has a professional career would marry into the royal family would have been inconceivable only 20 years ago. So I think that’s great.”</p> <p>Bates has written a book called Royalty Inc, detailing how the royal family has changed over time to maintain popularity and relevance.</p> <p>“When I was writing my book, it was said to be the marmite strategy everyone knows about,” he said.</p> <p>“This little pot of yeast extract that the British are attracted to — it looks like a heritage product, unchanging, a bit old-fashioned looking on the outside.”</p> <p>But everything has changed with marmite over the years, from the recipe to the colour.</p> <p>“Everything has changed and yet nothing seems to have changed,” added Mr Bates.</p> <p>“And it sort of banks on that. The Royal Family is a bit like that ... royal courtiers used to say to me ‘it’s the marmite strategy’ — everything changes, but nothing seems to on the surface.”</p> <p>Saturday’s wedding seemed to be a hallmark of that strategy in place.</p> <p>“I liked the innovations they had [because of] Meghan’s background, the gospel singing and particularly enjoyed the bishop’s sermon,” said Bates. “I thought that was great.”</p> <p>Bates also believes Markle will have a profound impact on the royals.</p> <p>Bates added: “She broadens the gene pool really, she brings a different perspective and also a different appearance, beyond the obvious, to the Royal Family. She is bound to make them appear less stuffy and to inject different ideas into their gene pool. I think it’s very good for the monarchy.”</p> <p>What are your thoughts?</p>

News

Placeholder Content Image

Revealed: the secret to winning Scrabble

<p>Families have bonded over board games for generations. They’ve also fought like crazy over them for generations. Luckily, for the competitor in all of us, the secret to winning at Scrabble has finally been discovered.</p> <p>While most people think long words packed with high-scoring letters like “x” “z” and “q” are the best way to beat opponents, Scrabble experts have revealed that shorter words are actually the best way to go.</p> <p>According to <a href="http://www.wsj.com/articles/for-nigerian-scrabble-stars-short-tops-shorter-1463669734" target="_blank"><em><strong><span style="text-decoration: underline;">The Wall Street Journal</span></strong></em></a>, the secret has been discovered in a somewhat unlikely place – Nigeria, which lays claim to the most top-200 Scrabble players than any other country. The national team (yep, world championship Scrabble does exist!) has found success by opting for four- and five-letter words, even when there’s possibility for longer options.</p> <p>If you’re wondering why, the championship team says playing longer words gives opponents an advantage, in that it offers more opportunities to play off that word. Also, using up all your letters on one huge-scoring whopper leaves you with a much greater chance of picking up a bad batch the next turn.</p> <p>Have you tried this method before? Do you have a Scrabble secret of your own? Share your tips with us in the comments below.</p> <p><strong>Related links:</strong></p> <p><a href="/news/news/2016/06/mary-poppins-returns-disney-cast-emily-blunt/"><strong><em><span style="text-decoration: underline;">Disney reveal who will play Mary Poppins in new sequel</span></em></strong></a></p> <p><a href="/news/news/2016/05/hairless-dog-dances-to-grandma-playing-polka/"><strong><em><span style="text-decoration: underline;">Dog loves to dance to grandma playing the polka</span></em></strong></a></p> <p><a href="/news/news/2016/05/teachers-moved-to-tears-as-11-year-old-student-shouts-them-farewell-dinner/"><span style="text-decoration: underline;"><em><strong>Teachers moved to tears as 11-year-old student shouts them farewell dinner</strong></em></span></a></p>

Books

Placeholder Content Image

The brilliant idea that saved The Reject Shop

<p>Last year, The Reject Shop’s 2017 financial year report revealed a net profit crash of 27.8 per cent, leaving the discount retailer in serious strife.</p> <p><a href="/finance/money-banking/2017/08/this-huge-blunder-sent-the-reject-shop-profits-plummeting/" target="_blank"><strong><span style="text-decoration: underline;">According to the chain’s managing director Ross Sudano</span></strong></a>, it was all down to a simple mistake – failing to take advantage of the appeal of its branded products by placing them instore, rather than in prime display positions at the shop’s entrance.</p> <p>Now, after implementing a new strategy to turn its performance around, The Reject Shop is experiencing a huge surge in popularity.</p> <p>In its first-half profit report, the retailer revealed a profit of $17.7 million, up 1.1 per cent from the same period the previous year, with comparable sales up 0.4 per cent. As a result, its share price has soared by up to 13 per cent from the day before the profit report was released.</p> <p>Ross Sudano told the ASX in a statement the jump in sales was thanks to a “raft of significant changes”, including its new merchandising strategy.</p> <p>“These include realigning our product mix towards key everyday items and branded products, and reducing the frequency of promotional variety by focusing on high-impact events,” he said.</p> <p>“Most importantly, our customers have come back to The Reject Shop as they have positively responded to the increased availability of key everyday items such as laundry powder, tissues, dishwashing tablets and bulk coat hangers, as well as branded products.”</p> <p>Though the profit increase is relatively small, and despite forecasting a net loss of $200,000 to $1.2 million for the second half of the year, Sudano said the expected full-year profit of $16.5 million to $17.5 million would represent a “significant turnaround” on its $12.3 million profit in 2017.</p> <p>“Sustainable sales growth will be driven by increased transactions over time,” he said. “The strategies we are implementing to achieve this include changes to the way we build ranges, and improvements to the categories that have lacked the right product balance. We are also simplifying in-store activity for both customers and store teams.”</p> <p>Tell us in the comments below, have you noticed any changes at your local Reject Shop?</p>

Home & Garden

Placeholder Content Image

7 research-backed strategies to combat ageism

<p>In a society that values the cult of youth, it can be difficult not to fear getting older. But the way people treat you as you age not only influences your own perceptions of getting old but it can actually accelerate the ageing process. Cassey University’s Craig Fowler and colleagues believe the key to successful ageing is to resist the ageism and ageist messages that pervade society.</p> <p>According to Foweler’s research, the key to combat ageism is to create environments where we can age well. It acknowledges that most people feel uncertain about getting older, which creates both negative and positive feelings. If you create positive “ageing spaces” you're more likely to be less susceptible to ageism and feel much better about the ageing process. Here are seven strategies to help you create your positive ageing space. </p> <p><strong>1. Feel optimistic about getting older:</strong> Research from Yale University shows that the more positive and optimistic you are about ageing and the prospects of getting older, the longer you live.</p> <p><strong>2. Don’t attribute all behaviour to age:</strong> There’s a tendency to blame any kind of mistake when you’re older to the effects of ageing. But commonly there’s things that could happen to anyone at any age. Labelling yourself as old can lead yourself and others to treat you as less than mentally capable.</p> <p><strong>3. Refrain from ageing jokes:</strong> They’re meant to be jokes but they’re often just reinforcing ageist negative stereotypes, which could lead to self-fulfilling prophecies.</p> <p><strong>4. Plan for your future needs:</strong> Don’t pretend life won’t change in the future. You need to be willing to confront reality to plan and get ready for the changes that might affect you as you age.</p> <p><strong>5. Learn new technologies:</strong> There’s a prevailing belief that older people can’t learn new tricks, which is just not true. Not only does learning new things stimulate the brain, but defies ageist steretoypes.</p> <p><strong>6. Call out ageism when it happens:</strong> Help people who spout ageist remarks or jokes to see the folly of their ways by pointing out instances where it happens, and not just ignoring the comments.</p> <p><strong>7. Resist the anti-ageing industry:</strong> The unhappier you are about getting older, the more you’ll be susceptible to the “promises” of the anti-ageing industry.</p> <p><strong>Related links: </strong></p> <p><span style="text-decoration: underline;"><strong><a href="http://www.oversixty.co.nz/health/mind/2016/04/10-signs-youre-too-self-critical/"><em>10 signs you’re too self-critical</em></a></strong></span></p> <p><span style="text-decoration: underline;"><strong><a href="http://www.oversixty.co.nz/health/mind/2016/04/simple-ways-to-ease-anxiety/"><em>5 simple ways to ease anxiety</em></a></strong></span></p> <p><span style="text-decoration: underline;"><strong><a href="http://www.oversixty.co.nz/health/mind/2016/04/why-we-should-let-go-of-the-pursuit-of-perfect/"><em>Why we should let go of the pursuit of perfect</em></a></strong></span></p>

Mind

Placeholder Content Image

Super strategy that can make a difference

<p><em>In this article Shane Bonke, Founder and Senior Financial Advisor at <a href="http://www.lighthouseconsultants.com.au/" target="_blank"><strong><span style="text-decoration: underline;">Lighthouse Consultants</span></strong></a>, writes about a clever, yet relatively unknown way seniors can maximise their superannuation return.  </em></p> <p>As we approach retirement, it’s important we do everything that we can to maximise the size of our nest egg so we can maintain a comfortable standard of living.</p> <p>If you are 60 or over and still working, there is a superannuation strategy guaranteed to reduce your personal income and boost your superannuation savings.</p> <p>And best of all, this particular financial strategy is not dependant on investment returns to be effective, instead cleverly taking advantage of the different tax rates afforded to your salary, and the income received from a superannuation income stream.</p> <p>When we implement this strategy for our clients, the average tax saving is $5,000 in the first year alone. The best way to see how it works if with an example.</p> <p>Take one of our clients, John. Currently, John is 60 and earns $80,000 a year before tax. John’s superannuation balance is $300,000 and his employer contributes the required amount of super each year. John’s financial situations breaks down as follows:</p> <p><img width="500" height="209" src="https://oversixtydev.blob.core.windows.net/media/19086/lighthouse_500x209.jpg" alt="Lighthouse (1)" style="display: block; margin-left: auto; margin-right: auto;"/></p> <p><strong>John's current position</strong></p> <p>You can see that John pays $19,147 in personal income tax and that leaves him with a take home pay of $60,853 each year.</p> <p>However, we were able to implement a transition to retirement strategy for him that made a huge difference to his personal income tax and eventual super balance. John’s position after the strategy was implemented looks like this:</p> <p><img width="500" height="225" src="https://oversixtydev.blob.core.windows.net/media/19087/lighthouse-2_500x225.jpg" alt="Lighthouse 2" style="display: block; margin-left: auto; margin-right: auto;"/></p> <p><strong>John's position post strategy</strong></p> <p>The basis of the strategy was to transfer $295,000 of John’s super to an account based pension which would allow us to pay him a tax free payment. The next step was to start salary sacrificing part of his salary into his super, making the maximum allowable contribution of $35,000 each year. The final step was to calculate the pension payment for John to receive so that his take home pay remained the same.</p> <p>You can see in the table below that we were able to keep John’s take home pay at effectively the same amount but increase his net super contributions by $5,590 in the first year alone.</p> <p><strong>John’s position after implementing strategy</strong></p> <ul> <li>Net Income $60,853 – $60,606</li> <li>Net Super Contribution $6,460 –$12,050</li> </ul> <p>Multiply this strategy over five years and you can see that this will make a big difference to John’s future superannuation balance.</p> <p><em>For a short time, Over60 members can receive a special discounted price on initial consultations with <strong><a href="http://www.lighthouseconsultants.com.au/" target="_blank"><span style="text-decoration: underline;">Lighthouse Consultants</span></a></strong>. For more information <strong><a href="http://www.lighthouseconsultants.com.au/" target="_blank"><span style="text-decoration: underline;">click here</span></a></strong>.</em></p> <p><strong>Related links:</strong></p> <p><span style="text-decoration: underline;"><em><a href="/finance/retirement-income/2016/04/understanding-the-age-pension-income-test/" target="_blank"><strong>Understanding the Age Pension income test</strong></a></em></span></p> <p><span style="text-decoration: underline;"><em><a href="/finance/retirement-income/2016/04/how-to-take-control-of-your-finances-in-retirement/" target="_blank"><strong>How to take control of your finances in retirement</strong></a></em></span></p> <p><span style="text-decoration: underline;"><em><strong><a href="/finance/retirement-income/2016/04/why-many-retirees-are-choosing-to-sell-their-own-home/" target="_blank">Why many retirees are choosing to sell their own home</a></strong></em></span></p>

Retirement Income

Placeholder Content Image

NZ Super Fund's responsible investor strategy pays off

<p>Being set up as a responsible investor was a smart move for New Zealand's sovereign wealth fund, a report by NZ Super Fund has found.</p> <p>In a "white paper" released on Thursday by the NZ Super Fund, which manages just under $30 billion for the Government, says there is now strong evidence companies that do well on "environmental, social and governance" (ESG) fronts deliver better returns for investors.</p> <p>These are companies that do not breach human rights, do not abuse the environment, and are well-managed and transparent.</p> <p>Matt Whineray, the fund's chief investment officer, said: "When we started building our responsible investment (RI) framework in the early days of the fund, the academic research on responsible investing was thin on the ground and not particularly conclusive".</p> <p>"We based our RI programme more on a general belief and on our own experience as investors."</p> <p>Since then much more research has been done, Whineray said.</p> <p>"There is strong evidence that companies that do well on ESG metrics tend to perform better."</p> <p>About 80 per cent of the more than 100 academic studies done worldwide found a positive link between the ESG ratings of companies and their performance.</p> <p>Companies that scored highly for ESG factors tended to be able to borrow more cheaply. They also tended to be more profitable, and had higher share prices.</p> <p>"The evidence on environmental practices and performance shows that investors and banks add a risk premium to firms that are perceived as having a higher risk of accidents," Whineray said.</p> <p>There was also less risk on some fronts for investors, such as companies having their share prices hit by lawsuits or investigations by regulators.</p> <p>"Being a responsible investor implies we must behave as the owners of assets rather than just investors in various securities."</p> <p>But it did not mean excluding more and more companies from the list of companies the fund wouldnot invest in.</p> <p>Whineray said the evidence showed many "socially responsible investment" (SRI) funds which typically exclude entire sectors like tobacco or armaments tend to neither out-perform, or under-perform traditional non-SRI funds.</p> <p>The NZ Super Fund screened out some sectors, including tobacco companies, but Whineray said the research suggested "engagement", where an investor sought to influence companies to do better on ESG fronts was a better strategy.</p> <p>Engagement was time-consuming and did not always work, but patient, long-term investors were best placed to pursue it.</p> <p>Being a responsible investor was also about ensuring the fund did not invest in companies that could damage New Zealand's international reputation, which was a legal requirement for the fund.</p> <p>The NZ Super Fund is often lobbied by activists who want to influence its investing. In recent years, the pressure has been to divest of investments in companies involved in extracting fossil fuels like oil as a measure against climate change.</p> <p>The fund has resisted that, and an international expert, speaking in New Zealand earlier this week, said the world's largest sovereign wealth fund - giant Norway Government Pension Fund - also continued to invest in oil companies favouring the engagement model.</p> <p>Written by Rob Stock. First appeared on <a href="http://www.Stuff.co.nz" target="_blank"><span style="text-decoration: underline;"><strong>Stuff.co.nz</strong></span></a>. </p>

Retirement Income

Placeholder Content Image

Six strategies to save money at the supermarket

<p>While supermarket prices mightn’t grab the headlines like surging household energy bills, they remain the second-biggest expense for most people, after housing costs.</p><p>The daily groceries can all mount up, costing roughly $100 per person per week. However, with a bit of smart thinking, big savings can still be made. Here are six supermarket spending strategies to help you bring those hefty bills down.</p><p><strong>Buy in bulk</strong> – Whether buying groceries off a shelf or off a pallet, bigger packages will save you money. Keep a look out for specials on bulk buys of non-perishable items such as toilet paper and washing powder, and if you decide to chase specials at different shops make sure the cost of petrol to get there doesn’t outweigh any savings you’ll make.</p><p><strong>Unit pricing is important</strong> – Supermarkets these days have to display the unit price for items, usually the price per 100ml, 100g or kilogram. This helps you compare prices more easily, and work out if buying that cheese on special is really a better deal than buying a larger packet.</p><p><strong>Plan ahead</strong> – Whether it’s making a shopping list, which everyone should do, or preparing cheap meals in advance, you can save plenty. Switching from taking no notice of your supermarket spending to being proactive about preparation can halve your bill.</p><p>Try avoiding processed food and making your own meals using natural ingredients instead where you can. It’s both healthier and cheaper. And don’t shop when you’re hungry. Supermarket shopping with an appetite leaves you vulnerable to buying extras you probably don’t need.</p><p>Also, consider shopping less often. Studies show that the more often we shop, the more we spend on unplanned purchases.</p><p><strong>Buyer beware</strong> – Marketers want you to spend more every visit, so keep an eye out for their tricks. Biscuits are placed near tea and coffee to entice you to buy both, and watch out for impulse buys near the checkout. Supermarkets generally put their most profitable items at eye level, and better value can often be found above or below them. Look up and down and not just straight ahead. Staples such as milk and butter are often at different ends of the shop compared to other essentials like bread, increasing the chances we'll fill our trolleys with non-essentials such as soft drinks and chips en route.</p><p><strong>Know the best days and times to shop</strong> – The two days for the cheapest supermarket prices are Mondays and Thursdays. Stores often offer specials on basics such as toilet paper, nappies and laundry powder on Mondays to tempt shoppers into the store. A second round of specials happens each Thursday, with meat and fresh produce mark-downs often taking place on Friday. Perishable items such as meat, bread and yoghurts are more likely to be discounted towards the end of the shopping day, as supermarkets mark down stock to get it off their shelves.</p><p><strong>Loyalty to loyalty cards</strong> – While supermarket loyalty cards keep you coming back, they don’t always represent cost-effective shopping and the rewards are often minimal. They shouldn't dictate where you shop, particularly when there could be cheaper alternatives available. It's similar to petrol discount vouchers – sometimes they’re a false economy. Are you really saving money if you drive miles out of your way to save a few cents per litre?</p>

Money & Banking

Placeholder Content Image

Why the bucket investment strategy could be right for you

<p>If you’ve finished working full-time, it may be worth re-thinking your investment strategy. Here’s one option to consider</p><p>We have all heard of a bucket list but what about the bucket strategy? Perhaps not as many people. According to wealth management firm BT Financial Group, a bucket strategy can help you tick off the experiences, activities or destinations you’ve put down in your bucket list.</p><p>For those who have recently retired or are looking to retire within the next few years, it’s a good time to re-think your investment strategy. While you were previously focused on building your investments as much as possible, in retirement your focus shifts to maintaining an income – both today and well into the future.</p><p><strong>What is the bucket strategy?</strong></p><p>It’s an investment strategy where your investments are essentially divided into two categories or buckets. The first bucket contains your secure investments such as cash and term deposits, which will pay your income over the next three to five years. The second bucket contains your growth investments such as shares, property and managed funds to make your money go the distance.</p><p>The first bucket will pay a monthly income into your bank account. The money you withdraw from this bucket is then replenished by income produced by the growth investments in the second bucket, so from profits generated by share dividends, rental income and managed fund distributions.</p><p>Market downturns, like the global financial crisis, generally have less of an effect on this income than the underlying investment’s price, which means it’s a relatively reliable source to replenish your income.</p><p>When the market is doing well, it’s a good idea to sell some growth investments from the second bucket to move the proceeds into the first bucket as a way to prepare yourself for future market downturns.</p><p><strong>What are the benefits of using this strategy?</strong></p><p>The whole idea behind the bucket strategy is making sure that you’re not forced to sell assets at the worst possible time – when they’ve been hit by a market downturn. This would mean heavy losses because you’d be selling investments that have already fallen in value.</p><p>By using the bucket strategy, you would have the time to let these battered investments recover and grow so that you can sustain your income longer. It’s designed to give you the peace of mind of knowing your income is secure for the next three to five years, and that your money will continue to look after you well into retirement.</p>

Money & Banking

Placeholder Content Image

Smart superannuation strategies for small business women

<p>Whether you’re running a floristry or catering business, or selling delicious homemade condiments and looking to take your flair for business further, it’s important to set aside time to plan for your own financial future. Here’s a few tips on what you need to consider.</p><p>Small business women are often great business owners but poor managers when it comes to their own financial futures. As a business owner, you may be guilty of putting the business needs ahead of your own financial future. Wealth management firm BT Financial Group shares some smart ways of how to protect your financial future through superannuation.</p><p><strong>Treat your business as a business</strong><br>You may be doing freelance or contract work, or working from home without a formal business structure, however, you need to remember that you’re the manager of the business and need to put in place the same disciplines as larger businesses. That means reviewing your business plan regularly, paying careful attention to cash flow and putting money aside for the future.</p><p><strong>Make regular tax deductible super contributions</strong><br>Rather than waiting until June to make super contributions, try contributing every quarter when you do your business activity statements. The flipside to this flexibility is that they have no obligation to contribute to super.</p><p><strong>Don’t miss out on the co-contribution</strong> <br>This should be the top of the priority list for women whose businesses earn less than $48,516 a year. It’s a great way to make a guaranteed tax free 50% return on an investment.</p><p><strong>Consider spouse contributions</strong> <br>Spouse super contributions can be a great way to keep money coming into your super when you’re at the early stages of your business, and your income has not yet reached $13,800. Plus your spouse receives an 18% tax offset.</p><p><strong>Pay less for life insurance by paying through super</strong> <br>Life and total and permanent disability (TPD) insurance is tax deductible if paid through super. For cash-strapped small business owners, it makes sense to pay premiums as before-tax contributions.</p><p><strong>Think about how you own your business property</strong><br>There can be enormous tax savings from contributing your business premises into your self-managed super fund. It’s definitely worth asking your financial planner or accountant to see if it makes sense for you.</p>

Money & Banking

Placeholder Content Image

Why you need to know about the transition to retirement strategy

<p>If you’re still in the workforce and wanting to plan for your future, the transition to retirement strategy could be worth a look. Here’s how it can help provide a comfortable retirement.</p><p>There are a number of pension strategies which allow those with an eye on the retirement horizon and those who are already retired to take advantage of the superannuation structure.</p><p>One of these strategies is the transition to retirement strategy, which can be a good way to increase your super balance as you near retirement without affecting your after-tax income. The strategy would allow a person over 60 to access a tax-free income stream from super, while at the same time continuing to make further contributions.</p><p>With retirement changing, more people are looking to take a gradual step into retirement by reducing their work hours. The benefit of this and utilising the transition to retirement strategy is that you can effectively draw on your super to provide an extra income stream from your take-home pay while still being able to contribute to it.</p><p>A properly executed transition to retirement strategy could add thousands of dollars to a standard retirement income, while at the same time ensuring your super balance continues to grow.</p><p><strong>Setting up a transition to retirement pension</strong><br>A transition to retirement pension can provide a tax-effective income to replace your salary if you plan on scaling back your work hours.</p><p>Introduced by the Howard government, a transition to retirement pension was designed to allow individuals to reduce their working hours and transition into retirement, while at the same time having access to some of their super to compensate for the reduced employment income. However, there is no rule that states you must reduce your income to use a transition to retirement pension and as such, a number of strategies have been developed.</p><p>If you’d like to keep working full-time, you can still utilise this pension by sacrificing some of your pre-tax salary into your super fund and use the income from the transition to retirement pension to compensate for your reduced salary. This could help you build a bigger retirement nest egg without reducing your current income.</p><p><strong>What are the benefits?</strong><br>Chris Cornish, principal financial adviser with Perth-based <a href="http://www.avantfinancial.com.au/" target="_blank">Avant Financial Services</a>, says there are two main benefits to a transition to retirement pension.</p><p>“The first is that your superannuation moves from accumulation phase, where earnings are taxed up to 15 per cent, to pension phase where there is a zero per cent tax rate. Obviously the bigger your superannuation balance the bigger the benefit,” he explains.</p><p>“The second benefit is that a TTR allows salary sacrifice to be increased and the ‘lost’ income can be partly or fully replaced by the pension payments. The salary sacrifice will be taxed at 15 per cent as opposed to their marginal tax rate and the higher the income, the bigger the benefit.”</p><p><strong>When can I access this?</strong><br>You can access a transition to retirement pension when you reach preservation age, which is currently 55. Between ages 55 and 60 pension payments are taxed differently and the main benefits are experienced when you’re over 60.</p><p><strong>What else do I need to know?</strong><br>Mr Cornish says there are a few important considerations to keep in mind when looking to set up a transition to retirement pension.</p><p>“A minimum level of income must be made from the transition to retirement pension, and for those under 65 this is four per cent. The maximum payment is 10 per cent and no lump sum withdrawals can be made,” he says. This means that if you’re a high income earner and don’t require the pension payments, you still need to take them. However, you can simply contribute them back into super as a non-concessional contribution.</p><p>Another thing to keep in mind is that you don’t want to salary sacrifice if you’re earning below $18,201. Below this, the marginal tax rate is zero per cent so you don’t want to needlessly incur a 15 per cent tax from salary sacrificing into super. Also don’t exceed the concessional contributions caps!</p><p>When it comes to salary sacrifice, there are a few other things to be aware of, such as employers don’t need to offer employees the ability to salary sacrifice, employers can pay their nine per cent super guarantee contributions on your lower income, employers can use your lower income while calculating holiday pay, sick leave and long service leave, and employers can charge an administration fee.</p><p>Figuring all of this stuff out can get fairly complicated, so if in doubt or if you’d like clarification on anything, or advice, seek qualified financial advice services. When it comes to setting yourself up before and during retirement, you want to be in the best position. A financial adviser can help you do that.</p>

Retirement Income

Our Partners