An ad for a gorgeous cashmere jumper flashed up on my Facebook feed…apparently there was a closing down sale for Velora London in Covent Garden – and I fell for this fake scam as did many others: https://uk.trustpilot.com/review/velora-london.com
Beware that these sites are scam sites: https://velora-london.co.uk/ and https://velora-london.com
What they do is:
- Take your order
2. They won’t let you cancel once you realise it’s a fake site – in my case 2 hours, so there is no way, they couldn’t cancel that!
3. They say, you just need to return it, but the return address is in China and that’s about £18 to return
4. If they sent you anything it’s nothing like what you ordered or the quality you expect
5. Comms is to an email address in Germany/Netherlands and no one answers …
The post How I got scammed on a fake fashion website and what you need to do to avoid doing the same thing appeared first on Money saving blog – Mrs Bargain Hunter.
Well, that was…certainly something. Once again, defying all odds and every reputable poll (we have GOT to stop reading those), Donald Trump has once again been elected as President of the United States. When we woke up the next day and the world realized that Trump was going to win, our phone started pinging with messages from friends, family, and readers asking whether it was time to sell everything and move it all into cash. I mean, I get it. We’re not the steely eyed robots that people think we are. We saw the news and had a visceral emotional […]
The post The Case For Calm appeared first on Millennial Revolution.
Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier.
#150 – November 11, 2024
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The End of Wise & Wealthy
After 2.5 years and 150 editions of Wise & Wealthy, I’m pulling the plug.
It’s not the end of my blog though. I’ve been publishing articles since 2015. And I’ve been sending out a weekly newsletter in some shape or form since that time as well.
But I AM ending the Wise & Wealthy format and brand.
There are two reasons why:
1. Reader response has been down: Back when I started, my newsletter was simple. Every time I published an article, I would send out an email with a link to the article. And I would explain what the article was about and why I wrote it.
Times have changed a lot since 2015 and responding to articles is not really a thing anymore. And that’s quite unfortunate for my style of content creation.
I thrive off reader feedback. It gives me input for new content. I think that’s also because of the impersonal Wise & Wealthy format.
Sending an email with a link to an article somehow feels more personal. I want to go back to that.
2. I like to switch things up: I’m a huge believer in doing new things in life every 2 to 3 years. That could be switching jobs or getting a promotion if you’re employed.
And if you work for yourself, it could mean shaking things up in the way you work. Over the last 9 years, I’ve done a lot of “switching things up.”
From self-publishing to traditional publishing. Living abroad. Hiring freelancers. And so forth.
The reason I like to do something different every 2 to 3 years is because, in my experience, that’s about the time most people start getting bored in their current job/career.
Is this something you can also relate to?
What’s next…
Every time I publish a new article, I’ll send you an email. Other than that, I’m also working on a few other projects.
My goal is to only publish when I really have something to say. I don’t want to create content for the sake of creating content.
That’s why I’ve never turned my blog or newsletter into a clickbait machine that’s funded by advertising. I’m in the business of teaching and sharing information, and I want to keep it that way.
Anyway, as soon as I have more details to share, I’ll update you.
Thank you for reading Wise & Wealthy!
I appreciate that you’re here. And I’m excited to keep sharing new articles with you.
All the best,
Darius
Join the 7-day Stay Centered challenge
I’ve created a one-week email course that you can do together with a group. It’s called Stay Centered, and it will help you to reclaim focus and live a meaningful life.
When you’re centered, nothing can hurt you. You will have inner peace no matter what happens.
How to unlock Stay Centered
You can join the challenge for free. Every day, you’ll receive a short email with a small challenge that inspires you to live better.
I highly recommend sharing it with your friends so you can go through the program together. I did it with my team, which was a lot of fun.
Join here: dariusforoux.com/stay-centered
The post Wise & Wealthy: The end of Wise & Wealthy appeared first on Darius Foroux.
I’ve seen it over and over again with clients: they reached financial independence at some point in their 50s or 60s. And then, years later (maybe several years, maybe a decade or more), they inherited a whole bunch of money from their parents. And it’s not that the inheritance does nothing for them, but it really doesn’t change their lives dramatically, despite being a very large sum.
Christine Benz recently discussed the implications of a large inheritance and how it often means that there were missed opportunities, whether for spending on oneself or for more impactful giving to loved ones at an earlier point.
- We Need to Talk About Your Retirement ‘Spending’ — Big Inheritances Can Be a Sign of Underconsumption and Suboptimal Planning. from Christine Benz
Other Recommended Reading
- Advice for the Kids from Jonathan Clements
- Typical US Homebuyer More Likely to Be Older, Single and a Woman from Alex Tanzi
- Planning for Incapacity from Beth Morrison and Amy Erickson
- The 5 Levels of Intelligence from Ben Carlson
- Some Things I Don’t Believe About Investing from Ben Carlson
- ~26 Million Businesses Still Have to File Their Mandatory BOI Reports by January 1 from Martha Waggoner
- What Makes Elon Tweet from Bill Bernstein
Thanks for reading!
What is the Best Age to Claim Social Security?
Read the answers to this question and several other Social Security questions in my latest book:
| Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less |
Disclaimer:Your subscription to this blog does not create a CPA-client or other professional services relationship between you and Michael Piper or between you and Simple Subjects, LLC. By subscribing, you explicitly agree not to hold Michael Piper or Simple Subjects, LLC liable in any way for damages arising from decisions you make based on the information available herein. Neither Michael Piper nor Simple Subjects, LLC makes any warranty as to the accuracy of any information contained in this communication. The information contained herein is for informational and entertainment purposes only and does not constitute financial advice. On financial matters for which assistance is needed, I strongly urge you to meet with a professional advisor who (unlike me) has a professional relationship with you and who (again, unlike me) knows the relevant details of your situation.
You may unsubscribe at any time by clicking the link at the bottom of this email (or by removing this RSS feed from your feed reader if you have subscribed via a feed reader).
Regardless of what we are learning, researching or practicing people often use the terms and concepts of efficiency and effectiveness interchangeably. I’m guilty of this. This often happens when we talk about personal finance concepts as well. But these two concepts are not the same. Let’s break them down, and better understand what it means to be both efficient and effective. Especially when it comes to our financial goals.
Efficiency: Being efficient is about doing things right. It means getting the most out of your resources with the least waste. For example, automating your savings or optimizing your budget can help you save money efficiently.
Effectiveness: Being effective is about doing the right things. It means achieving your goals and desired outcomes. But this can even mean by using more resources. For instance, saving for retirement or investing wisely can help you achieve your financial goals effectively.
Why They Don’t Always Go Hand in Hand
Efficiency and effectiveness can sometimes be at odds with one another. For example, automating your savings is efficient, but if your savings strategy doesn’t align with your long-term goals, you might not have enough money for retirement, emergencies, or that new pointy guitar you’ve had your eye on for months!
Similarly, cutting costs to save money is efficient, but if those cuts affect your quality of life or prevent you from investing and growing your wealth, the long-term impact could actually be negative.
Common Misunderstandings in Personal Finance
Many people make some common mistakes when it comes to money management. Here are just a few things to keep in mind:
- Don’t just focus on saving money. Make sure your savings strategy aligns with your goals. Like retiring at 50, or buying pointy guitars.
- Don’t cut costs to the bone. Make sure you’re still able to live a comfortable life. Hello Netflix!
- Don’t ignore your investments. Make sure you’re investing in a way that will help you grow your wealth.
Confusing Efficiency with Effectiveness
Many people think that being efficient means they’ll automatically be effective in achieving your financial goals. Ah-Ha! There’s the gotcha! Because this is not always true. If you’re good at managing your day-to-day finances for example, you might still miss out on opportunities to grow your wealth by investing or reach big financial milestones like properly setting up a retirement account.
Neglecting One for the Other
This is where it can be kinda confusing. But follow me here. If you only focus on being efficient, you might miss out on ways to make more money or reach your financial goals faster. But if you only focus on being effective, you might spend too much or waste your money, making it hard to stick to your financial plan. Right?! This can totally be confusing!
Efficiency and Effectiveness in Personal Finance
Striking the Right Balance with Budgeting
Let’s take a look at some examples that help illustrate the differences, and how we can use efficiency and effectiveness together. An efficient budget might track every dollar you spend to save money, but an effective budget makes sure you’re spending enough towards your financial goals, like saving for retirement, paying off debt, or that damn pointy guitar.
Efficient Budgeting: You carefully track every expense and cut out things you don’t need, like daily lattes, saving $100 a month.
Effective Budgeting: You not only cut out unnecessary expenses but also save $200 a month for your 401(k) and use that $100 you save to pay off high-interest debt, which helps you reach your financial goals faster.
When it comes to saving for retirement, you want to make sure you’re doing everything you can to make the most of your money.
Efficient Investing:
Set it and Forget it: Automate your contributions to your retirement accounts so you don’t have to think about it.
Keep it Simple: Choose low-cost index funds or ETFs to save money and make your investments grow.
Effective Investing:
Spread Your Wings: Diversify your portfolio by investing in different types of assets to reduce risk and increase your chances of success over time.
Keep an Eye on Things: Regularly review your investment strategy and make changes as needed to stay on track with your retirement goals.
Let’s say we have this woman, Sarah. She sets up automatic monthly contributions to her 401(k) and makes sure her portfolio is well-diversified. She’s also working on paying off her high-interest debt to save on interest charges. Setting up automatic payments to avoid late charges, and keeps her credit score in good shape. She is being effective and efficient with this plan.
By combining efficiency and effectiveness, you can make sure you’re on the right track to managing your finances and achieving your financial goals, like a secure retirement, for example. By doing things like creating a debt repayment plan that tells you how much to pay towards each debt and when you’ll be debt-free.
Why Understanding the Difference Matters
Mixing up efficiency and effectiveness can lead to financial plans that don’t work or waste your time. By taking steps to better understand balancing both, you can make sure your financial habits save you money and help you reach your long-term goals.
Achieving Financial Harmony
Use efficiency to streamline your financial processes.
Use effectiveness to make sure your financial processes are working towards your goals.
Take Control of Your Financial Future
Don’t let confusion between efficiency and effectiveness mess up your financial journey. Start by looking at how you are currently managing your money. Are you just managing your money well, or are you also making smart choices to reach your goals? Try to find a balance that works for both.
Here are some action steps to get started in being both, effective and efficient when wanting to take control of your money.
- Take a Look at Your Finances: Review your budget, savings, and investment plans to see where you can improve both efficiency and effectiveness.
- Set Clear Goals: Write down your short-term and long-term financial goals, like building an emergency fund, saving for retirement, paying off debt, or buying the pointy guitar.
- Make Changes: Implement efficient practices like automating your savings and investing in low-cost funds, while also making sure these practices are working towards your financial goals.
- Seek Professional Advice: Don’t hesitate to reach out to a financial advisor, coach or counselor. They can help you create a well-rounded plan that balances efficiency and effectiveness.
What do you think? Are you ready to rock your finances? Keep those horns up my friends. Please share this with others you think would find value. Thank you for jamming!
The post Understanding Efficiency and Effectiveness Is Key to Financial Success. appeared first on Heavy Metal Money.
Before we explore new developments for 2025, 2024 was so chock full of Solo 401(k) developments that it deserves its own rundown. Then we will move onto 2025 Solo 401(k) changes. Vanguard Out! Vanguard transferred all of their Solo 401(k) accounts to Ascensus in 2024. Vanguard is now entirely out of the Solo 401(k) business. […]
The topic I learned the most about when studying for Certified Financial Planner (CFP) certification was tax planning. As I began working with clients, I realized this is the area I had the most to continue to learn if I wanted to truly master it. So I recently took Part 1 of the IRS enrolled…
The post Know the Flow, Pay Less Tax appeared first on Can I Retire Yet?.
One reason many people shy away from competition is that they dislike losing. With often only one winner, the sting of defeat can feel too humiliating. When people stop competing, they can become more fragile over time, to the point where even small setbacks can disrupt their well being. Ironically, the best path to victory […]
The post The Power Of Losing: How Setbacks Can Lead To Success appeared first on Financial Samurai.
Nestled in the mountains of the Basque Country, Lakabe, a tiny, once-abandoned village has been transformed into a thriving hub of sustainability and innovation over the past 40 years.
I had the incredible opportunity to spend a week in Lakabe as part of a group of 30 individuals from across Europe, all united by a desire to learn more about ecovillages and sustainable communities.
The experience left me with a renewed sense of purpose and connection to the larger movement for sustainable living, so I’m super excited to share more with you about it!
Table of Contents
The History and Magic of Lakabe
Lakabe’s story began in 1980 when a group of people seeking an alternative lifestyle stumbled upon the deserted village. With no roads and crumbling infrastructure, they rebuilt it from the ground up, creating an off-grid community that thrives today.
What makes Lakabe special is its commitment to living in harmony with nature, supported by shared governance and collective decision-making. The village operates with minimal external economic influence, focusing on shared resources, ecological farming, exchanging with other communities, and baking and selling bread & cookies.
Life in Lakabe: Shared economies and governance
One of the most striking aspects of Lakabe is its shared economy. Resources, from food to finances, are pooled together, ensuring that everyone’s needs are met.
Income generated from the village bakery and other artisanal crafts flows into a communal pot, which residents can access as needed. This economic model fosters equality and minimizes waste.
Equally impressive is their shared governance. Decisions in Lakabe are made collectively, using a unique three-step meeting process for making major decisions or solving issues:
- Emotional insight – The first day is dedicated to exploring the emotional aspects of a decision, allowing all voices to be heard and feelings validated.
- Logical deliberation – The following day, participants evaluate the practical aspects, analyzing facts and weighing pros and cons.
- Community impact – Finally, on the third day, the community discusses the broader impact of the decision, ensuring it aligns with their collective values and reflecting on the decision’s broader implications.
Lakabe also actively works on dismantling oppressive societal patterns, like those based on gender or social hierarchy. They incorporate tools like Process Work (a form of group facilitation that focuses on personal and collective transformation) and constellations (a method for exploring and resolving interpersonal dynamics).
A Day in Lakabe
Morning: Rise with nature
Life in Lakabe begins early. Residents gather in small groups to enjoy breakfast, typically made from freshly baked bread, homemade jam, and other locally sourced produce.
Mid-Morning: Community work and roles
After breakfast, the village comes alive with activity. Every member has a designated role, whether it’s gardening, animal care, or maintaining infrastructure. Some might head to the bakery to prepare loaves for local markets, while others engage in forestry or repair projects. Everyone contributes to various aspects of village life.
Lunch: A shared feast
Lunch is communal, with everyone pitching in to prepare and enjoy a hearty meal. Ingredients come straight from Lakabe’s gardens or from nearby communities. Meals are shared in a large common area.
Afternoon: Meetings and learning
With daily chores winding down, late afternoons provide time for personal projects or leisure. Alternatively, afternoons might feature skill-sharing sessions on sustainable practices, group facilitation, or crafts.
Evening: Connection and relaxation
Dinner is more informal and often enjoyed within smaller groups or individually. The stars fill the night sky & the residents follow a more natural, slower pace of life. Some days, the evenings are lively, with music, or jamming sessions by the fire, and others, relaxed and quiet.
Community dynamics and decision-making
Weekly meetings
Every week, the community gathers for a structured meeting to plan the upcoming week. They discuss task allocation, project priorities, and maintenance needs. This meeting also includes scheduling the use of shared resources like cars or tools.
Task rotations
Responsibilities like cooking, cleaning, and bread baking are rotated weekly to ensure everyone contributes to the collective workload. These tasks are assigned based on individual skills and the community’s immediate needs.
Shared governance
Lakabe’s governance operates on a circle system with collective decision-making. The three-step process for major decisions ensures all voices are heard, focusing on emotional, logical, and community impact aspects.
Unique aspects of Lakabe
- Sustainability: Beyond shared governance, Lakabe emphasizes ecological living. They use dry toilets, conserve water through short showers, and run the village on off-grid renewable energy. Energy usage is carefully monitored. Solar panels and the small wind turbine are maintained collectively.
- Bread and beyond: The bakery remains central to the economy, producing organic bread sold across Spain. Additional income comes from workshops, artisanal crafts, events, etc.
- Cultural exchanges: Lakabe frequently hosts international gatherings, connecting like-minded communities and individuals. These events include workshops on holistic farming, sociocracy, and non-violent communication.
- Food and resource distribution: All food and basic supplies are shared. The community has a central storage area for bulk items like grains and cooking oil, which are restocked regularly.
- Compost and waste management: Each household participates in the upkeep of the village’s composting system. Organic waste is separated and regularly transferred to communal compost bins for use in the gardens.
- Educational and social activities: Lakabe organizes workshops, from practical skills like soap-making to personal development sessions such as Process Work & constellations.
- Childcare: Children are raised collectively, with adults sharing childcare duties. This includes organizing learning activities and helping with schooling within the village.
- Community celebrations: Seasonal changes and significant milestones are celebrated with special events, often involving music, feasting, and rituals that connect the community to nature.
My Week in Lakabe: A personal reflection
Through Yes to Sustainability, an organization connecting young people with eco-communities across Europe, I had the chance to experience Lakabe firsthand.
From the moment I arrived, I felt like I’d been welcomed into a big, cozy hug. I could feel my body release tension, and my mind quickly shifted into a calmer, more peaceful state.
The warmth of the Lakabe community, and the group of people from the project, made me feel instantly comfortable and safe.
It was a bit unexpected when I arrived and there was practically no service and internet connection (except to a single spot that we found for emergencies :D) but it actually felt quite good to disconnect from the outside world and immerse completely within the experience.
Our days in Lakabe were a mix and the ideal balance of learning and fun. We had a day where were spent exploring the village and its projects – solar energy systems, permaculture gardens, and a bakery that supplies organic bread across the region.
The rest was presenting various individual or communal projects, discussions, brainstorming, exchanging ideas, and learning from each other.
In between, we had plenty of time to bond as a group with jam sessions, movement, playing, and enjoying delicious vegan meals prepared by the community with locally sourced ingredients.
All I’m gonna say is that it was a beautiful group of people, that I enjoyed connecting with very much.
A Visit to Arterra Bizimodu
Halfway through the week, we had a day trip to Arterra Bizimodu, another nearby eco-village known for its vibrant community and experimental projects.
Founded in 2012, this community is nestled in the mountains and occupies a 17-acre site, featuring spaces dedicated to permaculture, sustainable living, and community-oriented projects.
Arterra is known for its vibrant atmosphere, where residents, who number around 50, engage in a variety of entrepreneurial and ecological ventures. Unlike Lakabe, Arterra embraces a more entrepreneurial spirit, so the day trip to Arterra provided us with a fascinating contrast to Lakabe.
While both are eco-villages committed to sustainability, Arterra places a stronger emphasis on integrating professional and entrepreneurial efforts with its ecological principles. For example, the community operates a local brewery where they produce organic beer using permaculture principles.
They also have a music studio, and members of the community produce and sell goods like natural cosmetics, homemade jams, etc.
The visit provided a broader perspective on the different ways ecovillages can function and thrive. It was inspiring to see how each place had its unique take on how to balance ecological values with a spirit of innovation and collaboration.
More about Yes To Sustainability
All of this was possible because of Yes To Sustainability (YTS), an international project that empowers young people by connecting them with ecovillages and sustainable communities across Europe.
It’s part of the broader NextGEN Europe initiative, which supports youth-led projects, exchanges, and workshops within the Global Ecovillage Network EcoVillage.
Through fully funded youth exchanges supported by the Erasmus+ Program, YTS connects young people with ecovillages, where they learn about sustainable living, community dynamics, and how to live a more regenerative and sustainable life.
Participants engage in hands-on activities, learn about low-impact lifestyles, and deepen their connection to nature and community.
We also had the beautiful opportunity to meet with Clara, a current member of the Lakabe community, who’s one of the people who started Yes To Sustainability, back in 2016. It was truly inspirational to hear her story and how she made all of this a reality.
FAQ
What is Lakabe’s governance system like?
Lakabe uses a horizontal governance model with a focus on collective decision-making. They employ a three-step process for major decisions, addressing emotional, logical, and community impact aspects in separate meetings.
What facilities does Lakabe offer?
Despite its remote location, Lakabe is well-equipped. It has a bakery, cheese-making facilities, a school, workshops for metalwork and carpentry, and a car repair garage. These facilities help the village maintain self-sufficiency while also exchanging goods with nearby communities.
How does Lakabe manage its resources?
The community practices sustainable forestry, uses renewable energy, and operates a shared economy to minimize waste and promote self-sufficiency.
How do people contribute to village life?
Each resident has a role, such as gardening, animal care, baking, or maintaining the infrastructure. The workload is distributed based on skills and interests, ensuring the village runs smoothly.
What is the education system like in Lakabe?
In Lakabe, the education system for children is quite different from traditional schooling. The community emphasizes self-directed learning, where children are encouraged to explore their interests and passions.
The educational environment is designed to be flexible, focusing on holistic development rather than rigid academic standards. Children participate in a variety of activities, from nature-based learning to creative arts, and they are guided by adults within & outside the community who provide support and mentorship.
How does Lakabe handle waste management?
Lakabe uses composting toilets and recycles organic waste into compost for their gardens. This minimizes environmental impact and helps maintain self-sufficiency.
What is the role of spirituality or rituals in Lakabe?
While not religious, Lakabe values rituals and collective practices that foster a sense of connection to nature and community. These include seasonal celebrations and group reflection sessions.
How does the village generate income?
Most of Lakabe’s income comes from its bakery. They also earn through workshops, selling crafts, and trading with nearby communities.
How is Lakabe connected to other ecovillages?
Lakabe actively collaborates with other ecovillages through networks like GEN (Global Ecovillage Network) and Yes to Sustainability. These partnerships foster knowledge exchange and mutual support.
Can I visit Lakabe?
Yes, but visits must be arranged in advance. The village hosts open days and workshops for those interested in learning more.
Is Lakabe open to new residents?
Yes, but joining the community involves a gradual integration process. Prospective members typically spend time volunteering and getting to know the community before committing to permanent residency.
Are there any rules or guidelines for visitors?
Visitors are expected to respect the community’s values, contribute to daily tasks, and minimize their ecological footprint during their stay.
Final thoughts
My week in Lakabe was filled with so much goodness, and it gave me a lot of perspective. It was a blend of learning, connection, and deep reflection on what sustainable living can look like.
Of course, living in such a community comes with its challenges – balancing personal freedom with collective responsibility, navigating conflicts, and ensuring that everyone’s needs are met.
But these challenges also made the experience more meaningful, as I saw how the community continuously adapts and thrives despite difficulties. It left me with a profound appreciation for the work that goes into building sustainable, resilient communities.
The warmth of the community and the rich exchange of ideas left me inspired and hopeful for a future where more people can experience this kind of intentional living.
If you’re curious about sustainable lifestyles, Lakabe and organizations like Yes to Sustainability are fantastic places to start your journey.
If you have any questions and would like to know more about Lakabe or Yes To Sustainability, feel free to reach out.