3 Ways to Keep Learning in Retirement without Paying for an Expensive Degree

 (Photo credit: Wikipedia)

Having talked to many friends and family members approaching retirement, one common goal among many of them is to go back to school. Of course, most of these aspiring learners don’t necessarily need the credential of a degree. Rather, they just want to keep on learning, and they’re interested in becoming an expert in a specific field of study that’s different from the one they chose when they were in college. If this is you, consider the benefits of learning outside a traditional degree program. Here are a few options: 

1. Research continuing education centers in your community. 

Almost all universities and/or major cities offer continuing (also called “adult) education centers. These programs don’t necessarily grant degrees, but they do offer courses that are specifically tailored to your interests and passions. What’s more, most continuing education centers offer courses with very flexible times and dates. This is especially important for those in retirement, who may have many other projects and activities they’re pursuing. For an example of what a continuing education center may look like, check out Rice University’s Glasscock School of Continuing Studies in Houston. 

2. Enroll in a Massive Open Online Course. 

Massive Open Online Course, also known as a MOOC, is the latest trend in education technology. A MOOC is essentially a free course, usually offered through an established university that encourages the participation of students from around the world and has virtually no cap on the number of students who can participate. The most successful MOOC to date was an artificial intelligence course offered through Stanford. 160,000 students enrolled including several Stanford students, and 23,000 students ended up completing the course. The professor who taught the course gave a certificate to each student who completed the class as well as a grade. 248 students received a grade of 100 percent, and none of these students were from Stanford. MOOCS provide retired, lifelong learners the opportunity to learn in a collaborative environment for free, all the while being taught by world-class professors and improving their computer skills. 

3. Join a club or organization. 

Sometimes being self-taught is the best way to go if you want to learn a new skill. It’s also the cheapest way. At the same time, learning in a group setting can spur motivation and help you learn more efficiently from those who are more skilled. One way I learned to speak Russian fairly fluently was by teaching myself using different books, coupled by joining a Russian language MeetUp group. MeetUp.com is a great way to find a local learning group that focuses on whatever skill you endeavor to pick up. 

Of course, none of the above ideas is necessarily comparable to enrolling in a full degree program. At the same time, if the learning is what you're looking for, and not the credential, the above all great options for learning without having to pay an arm and a leg. Good luck! 

Katheryn Rivas is a freelance writer and former educator. She enjoys writing about trends in higher education, college life, and lifelong learning. Check out more of her advice and reporting at OnlineUniversities.com. Feel free to share your comments and questions below!

How to Avoid Extra Costs at the End of Your Car Lease

Car Lease (Photo credit: NobMouse)

$250 to dispose of your vehicle, $1000 for extra miles you put on the clock and $200 to replace the light bulb and the worn tires—lease agents constantly nickel-and-dime consumers when their lease runs out. 

Here’s a rundown of what can trigger those fees, and some steps to take in self-defense.

Disposition fee: Leasing companies charge you if you choose not to buy the vehicle at the end of your lease. This fee is set as compensation for the expenses of selling, or otherwise disposing of the vehicle. It typically includes administrative charges; the dealer’s cost to prepare the car for resale and any other penalties. Make sure this fee is stated clearly in the contract and is agreeable by you before signing on the dotted line. At lease-end, you are left in no position to negotiate as the dealer can apply your refundable security deposit towards this fee. 

Excess mileage charges: Almost all leasing companies will charge a premium for each mile over the agreed upon mileage stated in your contract. This penalty can be as high as 25 cents per mile and can add up quickly. To avoid the risk of running thousands of dollars in excess mileage penalties at the end of your lease, always check the “per mile” charges in your contract and be realistic about your mileage before you sign any contract. If you think the limit is unrealistic given your commutation needs, then negotiate with the dealer to get a higher mileage or contract for additional miles. 

Excess tear-and-wear charges: Another potential cost at the end of the lease is any incidental damage done to the car during the lease. This is deemed any excessive damage done to the normal tear and wear of the vehicle. Notice the use of the terms “deemed”, “excessive” and “normal”. There is no standard formula to define what’s “excessive” and “normal” and it’s up to the leasing company to assess – or deem – the damage and determine what they are going to charge. This leaves you at the mercy of unscrupulous leasing agents who set stringent tear-and-wear standards. 

Make sure you read the description of these standards, understand them and agree to them. If your leased vehicle is damaged prior to the end of the lease, you may find it cheaper to repair the damage yourself than pay the excessive charges of the leasing agent. In the event of a dispute over the charges at the end of your lease, get an independent third party to do a professional appraisal detailing the amount required to repair any damaged parts or the amount by which tear-and-wear reduces the value of the vehicle.

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10 Ways You Can Save More Money

Many people have little money leaks that they may not even realize. Over the years these tiny amounts of money add up to hundreds of dollars. Being conscious of where your money is going is the difference between winning and losing in the money game.

I have listed 10 ways to save money and plug up those money leaks:

Savings Tips

1. Consider your needs vs. your wants. Think about items you purchase on a regular basis. These add up. Where can you save?

• Do you eat out at restaurants a lot? 
• Can you cut back on daily expenses, such as coffee, candy, soda, or cigarettes? 
• Do you have services you do not really need, such as cable television or a cell phone? 

2. Set up a direct deposit and an automatic transfer to your savings account.

• When you get paid, put a portion in savings through direct deposit or automatic transfer. 
• If you have a checking account, you can sign up to have money moved into your savings account every month. What you don’t see, you don’t miss! 

3. Pay your bills on time. This saves the added expense of:

• Late fees, extra finance charges 
• Disconnection fees for phone, electricity, or other services 
• Fees to reestablish connection if your service is disconnected 
• The cost of eviction, repossession and bill collectors 

4. If you use check-cashing stores regularly, you might be paying $3 - $5 for each check you cash. Consider opening a checking account at a bank or credit union.

5. If you get a raise or bonus from your employer, save that extra money.

6. If you have paid off a loan, keep making the monthly payments to yourself. You can save or invest the money for your future goals.

7. Avoid debt that does not help build long-term financial security. For example, avoid borrowing money for things that do not provide financial benefits or that do not last as long as the loan. Examples include: a vacation, clothing, and dinners out in restaurants.

8. Save your change at the end of the day. Take that change and deposit it into the bank (every week or month).

9. When you get a tax refund, save as much of it as possible.

10. If your work offers a retirement plan, such as 401(k) or 403(b) plan that deducts money from your paycheck, join it! Most employers will match up to $.50 on each dollar you contribute. The matched amount is free money!

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Payday Loans Are Still Popular with Consumers

Loans (Photo credit: zingbot)

Short-term financing is the common choice for those who have money difficulties. With pay day loans, you have the convenience of getting a particular amount of money through a faster process. Payday loans need to be settled within a certain period of time like 15 days, 30 days or even 60 days. Note also that there are cases when lenders allow a 6-month term for loan repayment. This, however, is on a case to case basis? 

How do you qualify for payday cash loans? 

The reason why many consider these cash loans is that it does not have too many requirements. As a matter of fact, lenders just want a guarantee that you can pay back the loan on time. As such, expect that they would ask about your current employment. Usually, qualified applicants are those who have already been employed for at least 90 days. Proof of steady income for the previous months would also be required if you aren't currently employed. Documents can be sent through fax or email. But, there are also times that lenders do not require such paper works. It's best though to be ready to ensure a faster transaction. 

It's also vital that you have an active bank account where the lender would deposit the cas fast. Lenders prefer to elect bank accounts under the applicant's name. Contrary to popular notion, credit standing has no impact on pay day loans. Should the loan be granted, it would also not affect your future credit rating. 

How long is the loan application processing? 

Competition among payday loan providers have provided a big edge for borrowers. Majority of lenders promise pay day loan approval in less than an hour. Some can even go as extreme as 15 minutes. 

Why use payday loans? 

There are many conveniences when you get one week payday loans. For one, it has a lot easier application process. It's good if you're not targeting a relatively large sum of money and it  doesn't have upfront fees. All you need to provide is the information on your finances. You can also choose your application medium. Do it online or by phone and the results would still be the same. 

The bottom line is that you won't be tied to a loan that you need to finish in years. You get to solve your credit problems immediately. At the end of the day, pay day loans are really the best options for unplanned cash problems. 

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Planning for Top Quality Christmas Parties on a Budget

christmas 2012 (Photo credit: paparutzi)

We’re getting to that time of year when people are starting to think about their Christmas parties, what they’re going to wear, where they’re going, how much they can afford to spend and what the theme is going to be. Unfortunately, these traditional parties occur at a bad time of year – there’s enough expense around Christmas time as it is, but you just can’t miss out on “the party of the year” whether you’re a student, a mother of two or retired. 

The main problem for the person entrusted with the task of arranging the whole thing is usually a financial one. The company might set aside a budget for them to spend on the venue, entertainment, food and drink and whatever else they might need, but the planner also needs to consider the needs and financial restrictions of the guests – there’s no point blowing the budget on an expensive restaurant if people can’t afford the food for instance. 

Fancy dress parties are always good for a laugh, but the chances are that the majority of people attending will have to go out and hire a costume. With it being peak time for the fancy dress hire companies, they can charge what they like safe in the knowledge that the customers will still pay for what’s on offer, so if they have to buy a costume, ensuring that costs at the party are low is essential to prevent people spending hundreds on the night itself when you include food and drink. 

A smart casual theme is quite possibly the best as it allows people to “play dress up” and get glammed up, especially if there’s a relaxed dress code in the workplace. The ladies can go out shopping for new party dresses and the men can don the shirt and tie they bought with their Charles Tyrwhitt promo codes but never had a use for and pretend they’re James Bond for the evening! 

Whatever theme you go for as the organizer, you need to remember that the financial restraints aren't just around the party budget, but the guests as well. With Christmas presents to buy, the “big night out” with the team from the office could be something they'd choose to avoid if they have to pay a lot so a cheap and cheerful party could be the ideal option. Keep venue costs low and food and drink free and you'll be the best party organizer ever!

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5 Healthy Financial Habits To Build Wealth

Without money (Photo credit: Toban Black)

To be financially successful you need to have the habits that contribute to building wealth. Learning from those that have success and ignoring advice from those that don't succeed is what you need to do. Most people struggle all their lives to make ends meet and never accumulate any savings, they live week to week, never getting out of that rut. 

Building wealth and being successful with money doesn't take a college degree or any extra intelligence. The concepts can be understood by anyone with only a minor education.

Work

This simple concept of having a job and having one that pays well is mostly ignored by many financial experts. Many people start their work life in a low paying job and stay there all their life. To accumulate money, build a life, and save for retirement takes money. If you find yourself in a low paying job you will never be able to be successful with money because you don't have enough money. 

The costs of taking care of yourself and a family is costly and the costs are rising all the time. The greatest investment you can make is to improve yourself. That can mean job training, education, or looking for higher paying jobs. If you sit in front of the TV every night wondering why you broke, maybe it's time to make a move to increase your income.

Saving Money

If you live from one paycheck to the next it's because you spend everything you earn. Financially smart people know the secret to being successful with money and that secret is to save money. Americans are blessed with a never ending supply of things to buy. Don't beat yourself up if you are caught up in this bad habit. Each time you earn money you should make it a habit of depositing at least 10 percent of it in a bank account that is solely designated for wealth accumulation. 

As this money begins to pile up, you may be tempted to spend it. Don't. Consistently saving at least 10 percent of your income and resisting the urge to use that money for anything other than sound investments is the most important healthy financial habit to develop. This habit lays the foundation for other healthy financial habits.

Manage or Eliminate Debt

Besides overspending  the other bad habit to keeping you broke is debt. Buying things on credit because you cannot afford them is another reason you're broke. Being in debt is not in itself bad but it does keep you from your goals if you don't have the money to pay it back. 

The main cause of going into debt is you have a had an unexpected expense and your only solution is to use credit because you don't have the money. This can be stopped by having an emergency fund funded to cover these expenses. 

Control Expenses

If your sloppy with your spending and don't have a budget you overspend on the wrong things. Start the habit of making a budget every month. You should have a plan for how you will spend the money you earn before you receive it. Your spending plan would include the money you intend to save automatically and enough to make all your debt payments and cover the household bills. 

The habit of budgeting your income -- and knowing where every single dollar goes -- will motivate you to cut costs wherever possible in order to increase the amount of discretionary funds you have left after meeting your monthly financial obligations. 

Have a Plan

Make your budget and have a plan for saving and paying down debt. Set short term and long term goals. Make plans to save a certain amount in a 6 month or a 12 month time frame. It's hard to break bad habits, you may fail but the secret is to keep trying and not give up.

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