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The Ads are Coming ! OpenAI is testing ads inside ChatGPT starting this month.

But there's a catch: You can’t just buy your way in ChatGPT will soon include “clearly labeled sponsored listings” at the bottom of AI-generated responses. And while the mock-ups don't appear all that sophisticated, it's important to focus on the bigger picture. We're about to see a new wave of 'high-intent advertising' that combines the targeting sophistication of social media with the purchase-intent clarity of search advertising. More on that in a moment. How Do ChatGPT Ads Work? Starting later this month, free users of the ChatGPT platform and those under 18 will begin receiving Ads at the bottom of their screens. First, they will see ChatGPT's answer to their question, which provides a comprehensive, relevant response that builds trust. Then they will see an ad for a sponsored product/service below. An ad that suddenly doesn't feel like a blunt interruption. It feels like a natural next step. This is premium placement. The user has already received value. They've been educated. And now there's a clear call to action (CTA) that's in context. Open AI has stated that their new Ads “support a broader effort to make powerful AI accessible to more people.” Translation: As they approach 1 billion weekly users across 171 countries using ChatGPT for free, OpenAI needs to offset its astronomical burn rate with ads. Makes sense. This New Era of Conversational Ads Will be Complicated But there's a structural difference with these new ads. OpenAI has stated that ads will only appear when they're relevant to that exact conversation. This means you can't just buy your way into ChatGPT Ads. In fact, with ChatGPT you are being selected because you're the right answer the user needs at that time. Put another way: When ChatGPT evaluates which sponsored products to show, it will favor brands with demonstrated authority on the topic. So unlike traditional paid search, where a higher bid gets you ranked in sponsored results, ChatGPT Ads will reward the brands whose content has already been recognized as authoritative by the AI model. Brands with strong organic visibility, topical expertise, and content that aligns with user intent will have a distinct competitive advantage from day one. Brands without that foundation will be paying premium rates to compete with established authorities. How ChatGPT's Ad Strategy is Set to Change Digital Marketing For years, CMOs have treated organic search and paid search as separate budget lines, often managed by different teams. I saw this firsthand, as I helped my client DoubleClick launch it’s first Ad Exchange network in the US market. Programmatic exchanges brought a new efficiency to digital ad buying. It was a very groovy time. This feels very different. Why? Because, the conventional wisdom has always been that paid search and ads drive immediate results while organic search plays the long game. In 2026, that strategy isn’t completely obsolete. But that type of thinking is about to get a lot more expensive for clients if they don't start to appreciate quality "organic" content and its ability to improve their paid advertising ROI. Now organic and paid need to get along, to get ahead. ChatGPT Ads Are Looking for Topical Authority that Experts Can Demonstrate When ChatGPT evaluates which sponsored products to show, it will favor brands with demonstrated authority on the topic. Brands won't simply be able to "buy" visibility. OpenAI in its announcements, has been explicit: ads must be relevant to the conversation. Relevance is determined by topical alignment, not budget. A brand spending millions on generic bidding will lose to a smaller competitor whose product is more precisely aligned with what the user actually asked. The ads aren't live yet. But the infrastructure supporting them is. Open AI, Google and many of the other generative search platforms are building very sophisticated systems that track topical authority and content quality signals. They're already reshaping how organic search, AI recommendations, and paid advertising work together. Topical Relevance + Expert Authority is the Path to Visibility in Search Investing in well-developed thought leadership programs generates compound returns. You get the organic search results plus an improvement in your paid search metrics in Generative AI search platforms. When done right, you build authority for AI citations, which then positions you better for ChatGPT ads. Remember, your organic traffic gains are built on authoritative content. They're built on being the answer that search engines and AI systems select. And once you've built that authority, it works everywhere—traditional search, AI Overviews, ChatGPT, and soon… ChatGPT ads. What To Do Before AI Ad Networks Start to Scale The early advantage will go to brands that invest in quality content right now. Organizations that invest in expert-authored, intent-aligned content over the next six months will have more AI citation visibility from Google Overviews and similar LLM's like ChatGPT. That means more trust signals, making paid ads more effective when they run. Content that is aligned with user intent: Answers a specific question. Not tangentially, not after 2,000 words of context. The answer appears in the opening paragraph, structured for AI extraction. Includes expert perspective. Generic information that could come from anywhere doesn't differentiate you. Expert insight, original research, or proprietary frameworks do. Demonstrates topical authority. A single authoritative article matters less than a cluster of related content that shows comprehensive expertise on a topic. Is structured for scanning. Clear headings (H2, H3), bullet points, tables, Q&A blocks. This structure helps both human readers and AI systems parse meaning. Remember, the brands that get the most value out of ChatGPT Ads will be the ones that built intent-aligned content years before the ads launched. They'll have topical clusters, expert perspectives, and the authority signals that make them the natural choice for sponsorship. Questions CMO’s Should Be Asking their Teams Now to Prepare for ChatGPT Ads Q. Can I pre-purchase Chat GPT Ads? As of today, there are currently no ads in ChatGPT. Open AI has announced that they will begin internal testing ads in ChatGPT later this month for Free users in the US market. Q. Do Ads influence the answers ChatGPT gives you? What about privacy? Open AI in their release states that answers are optimized based on what's most helpful to you. Ads are always separated and clearly labeled from Answers. They also state that they keep your conversations private from advertisers and will never sell your data to advertisers. Q. How do we audit our site content to ensure we're aligned with user intent? For your top 20-30 decision-stage queries (the ones that drive revenue), here's a quick test. Does the content directly answer the question in the opening paragraph? Are you including question-and-answer formats in your content? If you're burying the answer in a 3,000-word article full of tangents, you're losing visibility in organic search, and you're already failing in ChatGPT's environment. Restructure. Q. How do we prepare for ChatGPT Advertising Opportunities? Build topical authority through content clusters. Don't publish isolated blog posts. Organize your content around core topics your audience cares about. Create a long-form hub article that comprehensively covers the topic, then develop additional linked articles that dive into sub-topics and questions. Link them together. This structure helps AI systems over time, recognize your brand as authoritative on that topic, which improves both organic rankings and AI citation rates. Q. Can we still get traction with content that is not authored by experts? Generic AI-written content won't differentiate you. Get expert voices into your content. Feature your subject-matter experts, partner with practitioners, and customers to contribute original insights, case studies, or frameworks. AI systems can detect authenticity, and original expert perspectives is now a ranking signal. This is especially critical as you prepare for ChatGPT ads. OpenAI has prioritized conversations that cite authoritative sources. Q. How does content need to be structured for citations? Implement proper schema markup and structured data. AI systems extract information by parsing content structure. If your pages include proper schema markup (FAQPage, HowTo, Review, Product schema), you're making it easier for AI to pull your content into answers. This increases citation rates, which builds authority before ChatGPT ads scale. Q. How do we allocate our organic and paid programs? Own the organic + paid intersection. For your highest-intent topics, if you have a budget, invest in both organic visibility and paid campaigns. Run ads targeting the same keywords where you rank organically. This takes up more real estate on the results page and signals authority. It also gives you direct feedback on keyword performance, messaging, and landing page effectiveness—data that informs your organic content strategy and drives more citations - a virtuous cycle. Q. What types of creative will work best in these new Ad products? Until they roll out, it's unwise to make too many predictions. The safe bet here is to prepare your team for conversational advertising. ChatGPT ads won't reward traditional ad copy. They'll reward clarity, specificity, and direct value messaging. If you're used to brand-heavy, aspirational creative, this will feel foreign. Start testing conversationally-appropriate messaging now. Short, clear, problem-focused. Test on existing paid channels and refine before ChatGPT ads launch. Our Prediction When ChatGPT ads fully launch and scale, many brands that have invested in organic visibility and content quality will start to pull away from the pack. Remember…The brands that win won't be the ones with the biggest ad budgets. They'll be the ones whose content has already proven they're the right answer. They'll be the ones users already trust, already cite, and already know. The ads are coming. Are you ready?

Detecting Fraud Using Emerging Technology: Innovating Beyond Traditional Controls

Fraud and financial crime are evolving at a pace that challenges even the most established detection systems. From cyber-enabled schemes and complex financial misappropriations to subtle internal manipulations, traditional audit and compliance methods are often too slow or too narrow to keep up. In a world where billions of data points can hide a single irregularity, the investigative advantage now lies in speed, intelligence, and technological adaptability. J.S. Held’s Ken Feinstein recently authored an article exploring how artificial intelligence, machine learning, and advanced data analytics tools are transforming how organizations uncover and prevent fraud. In his piece, “Detecting Fraud Using Emerging Technology: Don’t Be Afraid to Innovate,” Feinstein illustrates how the integration of digital investigation techniques — from automation to predictive analytics — is reshaping the fraud-detection landscape, helping companies not just react to wrongdoing but anticipate and deter it. Ken Feinstein specializes in investigative data analytics and has over 25 years of experience. He provides data analytics solutions spanning multiple sectors, including retail and consumer products, life sciences, technology, financial services, and industrial products. His clients include law firms and Fortune 500 legal and compliance teams for whom he delivers large-scale, complex investigations, regulatory response matters, proactive anti‐fraud efforts, and compliance programs. View his profile here Why This Matters As fraudsters exploit digital tools and globalized networks, detection efforts must evolve in kind. Regulators expect faster, data-driven investigations, and boards demand real-time risk visibility. Those who innovate with AI-enabled detection and forensic analytics are better positioned to protect assets, reputation, and shareholder trust. Looking to know more? Connect with Ken Feinstein today by clicking on his icon below.

Federal Budget 2025: What's In It for Canadian Seniors?

Let's be honest: the word "budget" probably makes you want to take a nap. Or pour a stiff drink. Maybe both. We spent decades pinching pennies, brown-bagging lunches, and watching every dollar so we could finally retire and stop thinking about money every waking minute. Now here I am, telling you to read about a government budget. I know. I'm sorry. But stick with me—I promise to make this as painless (and possibly entertaining) as possible. Why You Should Care About the 2025 Federal Budget (Even If You Really Don't Want To) Some of you hate talking about money. I get it. But here's the thing: information is power, and denial isn't just a river in Africa (give it a second to land)—it creates unnecessary ignorance and real missed opportunities to regain some control over your financial life. Plus, this budget affects your kids and grandkids too. So even if you're sitting pretty, the people you love might not be. The Economy Right Now: A Very Quick Explainer You've probably noticed everything costs more. A lot more. Welcome to inflation, courtesy of today's tariff-happy trade wars. (And if you want a deeper dive into how inflation affects more than just your wallet, check out my earlier piece: "Inflation: It's not just for prices anymore".) Here's the short version: When governments slap tariffs on imported goods (think: "You want to sell your stuff here? Pay up!"), Companies pass those costs directly to you at checkout. Your grocery bill goes up. Your heating costs rise. Even that new garden hose costs more because, apparently, everything comes from somewhere else now. So when you're living on a fixed income—CPP, OAS, maybe some RRIF withdrawals—and prices keep climbing while your income stays flat, that's a problem. A big one. Enter: the federal budget. It's basically Ottawa's financial to-do list: where they'll spend money, what they'll cut, and (theoretically) how they plan to make your life easier. Or at least less expensive. What's Actually In This Federal Budget Thing (The Good Parts Only) I've waded through the charts, jargon, and multi-billion-dollar announcements so you don't have to. Here's what matters to you: 1. Your House: Now it's a Potential ATM Remember when turning your basement into a rental suite sounded expensive and complicated? Ottawa heard you. The Secondary Suite Loan Program is expanded: Borrow up to $80,000 at 2% interest (15-year term) to build a basement apartment, garden suite, or in-law unit.  The refinancing rules are also relaxed: You can now refinance up to 90% of your home's post-renovation value to fund these projects. Translation: You can turn unused space into monthly rental income, house a caregiver, or create a spot for family—all while boosting your property value. It's like your house went to entrepreneurship school. For more on Additional Dwelling Units (ADUs), check out this post. 2. Slightly Less Painful Tax Season Ottawa is cutting the base federal tax rate for modest-income earners and cancelling the consumer carbon price on heating fuels. Translation: If you're still working part-time or living on CPP + OAS + RRIF withdrawals, expect slightly lower deductions and cheaper heating bills starting this winter. We're talking maybe $30–$50 more per month—not a windfall, but enough to buy groceries without wincing at the checkout. 3. Health Care: Maybe, Possibly, Getting Better The budget includes more money for provinces to spend on health care and long-term care reform. The goal? Shorter wait times and expanded home-care programs. Translation: The government says they're helping seniors age at home with dignity. Whether that actually happens depends on your province not blowing the money on consultants and photo ops. Keep your eyes on provincial announcements for new or expanded home-care subsidies. 4. Your Savings: Slightly Less Likely to Evaporate Budget 2025 confirmed Canada has the lowest debt-to-GDP ratio in the G7. They're also cracking down on bank fraud and scams targeting seniors. Translation: Lower national debt helps keep interest rates and inflation under control, protecting the real value of your fixed income. And Ottawa is finally recognizing that scammers love targeting retirees. (If you haven't already, read my piece on The Rise in Grandparent Scams—it's eye-opening.) About time. Watch for my upcoming article on a recent senior scam making the rounds—and my assessment of how banks can do much more to protect seniors.  5. $60 Billion in "Savings" (Don't Panic) You'll hear politicians bragging about cutting $60 billion. Before you worry they're gutting CPP or OAS, relax. They're trimming their own bureaucracy—less middle management, more digital tools, fewer wasteful meetings about meetings. Translation: They're supposedly spending less on themselves so they can spend more on things that matter—like housing, health care, and infrastructure. Whether they actually pull this off remains to be seen, but at least they're talking about it. So What Does All This Actually Mean? Look, I won't pretend this budget is a game-changer. It's not. But it does offer a few smart moves if you're willing to act. And let's remember: this is Carney's first budget. Changing financial policy and spending priorities takes time—and some patience on our part. Rome wasn't built in a day, and neither is a functional federal budget that actually helps everyday Canadians. Review your home equity. Could an ADU loan help you age in place and generate income? Audit your expenses annually. Cutting $100/month in spending equals roughly $1,500 in pre-tax income. That's real money. Stay vigilant against scams. Government protection is nice, but it starts with you not clicking sketchy emails and text messages. Ask about tax credits. Low-income seniors may qualify for increased refundable credits under provincial top-ups this year. This isn't a flashy budget. There are no big checks in the mail. But it does signal a shift toward pragmatism: help Canadians stay housed, healthy, and financially secure while Ottawa tightens its own belt. For Canadians 55+, that means: Slightly lower everyday costs More options to create income from your home Continued investment in health and home care A more stable economy to protect your savings Progress? Maybe. One cautious, bureaucratic step at a time. Your Next Move Take 30 minutes this week to think through how these programs could fit into your life. Could an ADU loan make aging in place possible? Could refinancing free up cash flow? Small adjustments now = big peace of mind later. And that's what being hit, fit, and financially free is all about. And hey—you just read an entire article about a government budget. Voluntarily. That deserves recognition. Go ahead, brag about it. You've earned it. Now go enjoy your retirement. You've definitely earned that too. Sue Don’t Retire…Re-Wire!!!

University Communications Needs a Bigger Role in the Research Conversation

While attending the Expert Finder Systems International Forum (EFS), several notable themes emerged for me over the 2-day event. It's clear that many universities are working hard to improve their reputation by demonstrating the real-world impact of their research to the public and to funders, but it's proving to be a challenging task - even for the largest R1 universities.  Many of these challenges stem from how institutions have traditionally organized their research functions, management systems, and performance metrics.  Engaging faculty researchers in this process remains a significant challenge, despite the need for rapid transformation. While this EFS conference was very well-organized and the speakers delivered a great deal of useful information, I appeared to be one of the few marketing and communications professionals in a room full of research leaders, administrative staff, librarians, and IT professionals. There's a certain irony to this, as I observe the same phenomenon at HigherEd marketing conferences, which often lack representation from research staff.  My point is this. We can't build better platforms, policies, and processes that amplify the profile of research without breaking down silos.  We need University Communications to be much more involved in this process. As Baruch Fischhoff, a renowned scholar at Carnegie Mellon University, notes: Bridging the gap between scientists and the public “requires an unnatural act: collaboration among experts from different communities” – but when done right, it benefits everyone.  But first, let's dive in a little more into RIM's and Expert Finder Systems for context. What are Research Information Systems (RIMs) Research Information Management systems (aka Expert Finder Systems) are the digital backbone that tracks everything researchers do. Publications, grants, collaborations, patents, speaking engagements. Think of them as massive databases that universities use to catalog their intellectual output and demonstrate their research capacity.  These systems matter. They inform faculty promotion decisions, support strategic planning and grant applications, and increasingly, they're what institutions point to when asked to justify their existence to funders, accreditors, and the public. But here's the problem: most RIM systems were designed by researchers, for researchers, during an era when academic reputation was the primary currency. The game has fundamentally changed, and our systems haven't caught up. Let's explore this further. Academic Research Impact: The New Pressure Cooker Research departments across the country are under intense pressure to demonstrate impact—fast. State legislators want to see economic benefits from university research. Federal agencies are demanding clearer public engagement metrics. Donors want stories, not statistics. And the general public? They're questioning whether their tax dollars are actually improving their lives. Yet some academics are still asking, “Why should I simplify my research? Doesn’t the public already trust that this is important?” In a word, no – at least, not like they used to. Communicators must navigate a landscape where public trust in science and academia is not a given.  The data shows that there's a lot of work to be done. Trust in science has declined and it's also polarized:. According to a Nov. 2024 Pew Research study, 88% of Democrats vs. 66% of Republicans have a great deal or fair amount of confidence in scientists; overall views have not returned to pre-pandemic highs and many Americans are wary of scientists’ role in policymaking. While Public trust in higher education has declined, Americans see universities having a central role in innovation. While overall confidence in higher education has been falling over the past decade, a recent report by Gallup Research shows innovation scores highest as an area where higher education helps generate positive outcomes. Communication is seen as an area of relative weakness for scientists. Overall, 45% of U.S. adults describe research scientists as good communicators, according to a November 2024 Pew Research Study. Another critique many Americans hold is the sense that research scientists feel superior to others; 47% say this phrase describes them well. The traditional media ecosystem has faltered:. While many of these issues are largely due to research being caught in a tide of political polarization fueled by a significant rise in misinformation and disinformation on social media, traditional media have faced serious challenges.  Newsrooms have shrunk, and specialized science journalists are a rare breed outside major outlets. Local newspapers – once a reliable venue for highlighting state university breakthroughs or healthcare innovations – have been severely impacted. The U.S. has lost over 3,300 newspapers since 2005, with closures continuing and more than 7,000 newspaper jobs vanished between 2022 and 2023 according to a Northwestern University Medill Report on Local News. Competition for coverage is fierce, and your story really needs to shine to grab a journalist's attention – or you need to find alternative ways to reach audiences directly.  The Big Message These Trends are Sending We can’t just assume goodwill – universities have to earn trust through clear, relatable communication. Less money means more competition and more scrutiny on outcomes. That's why communications teams play a pivotal role here: by conveying the impact of research to the public and decision-makers, they help build the case for why cuts to science are harmful. Remember, despite partisan divides, a strong majority – 78% of Americans – still agree government investment in scientific research is worthwhile. We need to keep it that way. But there's still a lot of work to do. The Audience Mismatch Problem The public doesn't care about your Altmetrics score. The policymakers I meet don't get excited about journal impact factors. Donors want to fund solutions to problems they understand, not citations in journals they'll never read. Yet our expert systems are still designed around these traditional academic metrics because that's what the people building them understand. It's not their fault—but it's created a blind spot. "Impact isn't just journal articles anymore," one EFS conference panelist explained. "It's podcasts, blogs, media mentions, datasets, even the community partnerships we build." But walk into most research offices, and those broader impacts are either invisible in the system or buried under layers of academic jargon that external audiences can't penetrate. Expert systems have traditionally been primarily focused on academic audiences. They're brilliant at tracking h-Index scores, citation counts, and journal impact factors. But try to use them to show a state legislator how your agriculture research is helping local farmers, or explain to a donor how your engineering faculty is solving real-world problems? There's still work to do here. As one frustrated speaker put it: "These systems have become compliance-driven, inward-looking tools. They help administrators, but they don't help the public understand why research matters. The Science Translation Crisis Perhaps the most sobering observation came from another EFS Conference speaker who said it very plainly. "If we can't explain our work in plain language, we lose taxpayers. We lose the community. They don't see themselves in what we do." However, this feels more like a communication problem masquerading as a technology issue. We've built systems that speak fluent academic, but the audiences we need to reach speak human. When research descriptions are buried in jargon, when impact metrics are incomprehensible to lay audiences, when success stories require a PhD to understand—we're actively pushing away the very people we need to engage. The AI Disruption Very Few Saw Coming Yes, AI, like everywhere else, is fast making its mark on how research gets discovered. One impassioned speaker representing a university system described this new reality: "We are entering an age where no one needs to click on content. AI systems will summarize and cite without ever sending the traffic back." Think about what this means for a lot of faculty research. If it's not structured for both AI discovery and human interaction, your world-class faculty might as well be invisible. Increasingly, you will see that search traffic isn't coming back to your beautifully designed university pages—instead, it's being "synthesized" and served up in AI-generated summaries. I've provided a more detailed overview of how AI-generated summaries work in a previous post here. Keep in mind, this isn't a technical problem that IT can solve alone. It's a fundamental communications challenge about how we structure, present, and distribute information about our expertise. Faculty Fatigue is Real Meanwhile, many faculty are experiencing serious challenges managing busy schedules and mounting responsibilities.  As another EFS panelist commented on the challenges of engaging faculty in reporting and communicating their research, saying, "Many faculty see this work as duplicative. It's another burden on top of what they already have. Without clear incentives, adoption will always lag." Faculty researchers are busy people. They will engage with these internal systems when they see direct benefits. Media inquiries, speaking opportunities, consulting gigs, policy advisory roles—the kind of external visibility that advances careers and amplifies research impact. And they require more support than many institutions can provide. Yet, many universities have just one or two people trying to manage thousands of profiles, with no clear strategy for demonstrating how tasks such as profile updates and helping approve media releases and stories translate into tangible opportunities. In short, we're asking faculty to feed a system that feels like it doesn't feed them back. Breaking Down the Silos Which brings me to my main takeaway: we need more marketing and communications professionals in these conversations. The expert systems community is focused on addressing many of the technical challenges—data integration, workflow optimization, and new metadata standards — as AI transforms how we conduct research. But they're wrestling with fundamental communication challenges about audience, messaging, and impact storytelling. That's the uncomfortable truth. The systems are evolving whether we participate or not. The public pressure for accountability isn't going away. Comms professionals can either help shape these systems to serve critical communications goals or watch our expertise get lost in translation. ⸻ Key Takeaways Get Closer to Your Research: This involves having a deeper understanding of the management systems you use across the campus. How is your content appearing to external audiences? —not just research administrators, but the journalists, policymakers, donors, and community members we're trying to reach. Don't Forget The Importance of Stories: Push for plain-language research descriptions without unnecessarily "dumbing down" the research. Show how the work your faculty is doing can create real-world benefits at a local community level. Also, demonstrate how it has the potential to address global issues, further enhancing your authority.  And always be on the lookout for story angles that connect the research to relevant news, adding value for journalists. Structure Expert Content for AI Discoverability: Audit your content to see how it's showing up on key platforms such as Google Gemini, ChatGPT. Show faculty how keeping their information fresh and relevant translates to career opportunities they actually care about. Show Up at These Research Events: Perhaps most importantly, communications pros need to be part of these conversations. Next year's International Forum on Expert Finder Systems needs more communications professionals, marketing strategists, and storytelling experts in the room. The research leaders, administrators and IT professionals you will meet have a lot of challenges on their plate and want to do the right thing.  They will appreciate your input. These systems are being rapidly redesigned - Whether you're part of the conversation or not. The question is: do we want to influence how they serve our institutions' communications goals, or do we want to inherit systems that work brilliantly for academic audiences but get a failing grade for helping us serve the public?

Life Hacks in Retirement: Strategies for Aging Well

If Jean Smart can star in Hacks at 72, clearly life hacking is age-appropriate. Hacks may be a TV comedy about a sharp-tongued, aging comic, but let’s face it: retirement needs a few hacks of its own. It turns out that aging well requires more than good genes—it demands good strategy. The goal isn’t perfection. It’s progress. Progress with fewer bruises, bigger laughs, and more money left at the end of the month than freezer-burnt chicken. So here are some tried-and-true hacks in three essential areas: Money, Muscle, and Mood. Let's get you hip, fit, and financially free.  Ready, Set, Go! Money Hacks: Japan Might Have Found Something In Japan, there's a charming financial custom called Kuzukai, where men hand over all their income to their wives and receive a monthly allowance. No joke—it's a thing. And it works. Japan boasts: • One of the highest household savings rates at 23% (OECD, 2023) • Low household debt per capita (World Bank) • The lowest personal bankruptcy rate in the developed world (IMF Report) • And a whopping 74% of households follow this practice (Nikkei Asia, 2021) Maybe they’ve discovered the ultimate money hack: give the money to the person most likely to use spreadsheets recreationally. But you don’t need a spouse or a sushi habit to save big. Whether you're solo or shacked up, a homeowner or a renter, here are some effectively universal money-saving tips. Everyday Money-Saving Hacks: • Cut the Hidden Fees: Banking, streaming, delivery apps—if you’re not actively using them, cancel or deactivate. Your wallet will thank you. Read your bank and investment statements carefully, as if they were love letters from your money. That $3 “maintenance fee”? It might be costing you more than you realize. • Unsubscribe to Survive: Subscriptions are like house guests—pleasant at first but staying too long and costing too much. Establish a quarterly ritual—Subscription Audit Sunday. Review auto-renewals—Netflix, meditation apps, fancy sock clubs. If it doesn’t bring you joy or serve your needs weekly, cancel it. You might find enough loose change for a weekend escape. • Shop Daily, Eat Fresh: Instead of over-buying in bulk, buy just what you need for the day. It supports spontaneity and reduces waste. (Bonus: you can honour the “I feel like chicken wings” days guilt-free.). Power Tip: Shop daily, eat fresh. Channel your inner Parisian. Shop just for today—reducing waste, adding joy, and turning dinner into a choice rather than a guilt-ridden freezer excavation. • Use Senior Discounts Like a Boss: Shoppers Drug Mart (55+), Pet Valu (60+), movie theatres, golf, bowling… but only if you ask. Ask proudly: “I dare you, card me.” Mark senior days on your calendar like paydays, because they are. • Split with a Buddy: Share groceries with a friend. Half a BBQ chicken is more realistic (and less greasy) than the whole bird, and it reduces “fridge clutter”! • Ride Together: Share Ubers or Lyft. Or better yet, plan your errands with a friend and make a day of it; it will feel more like an adventure. • Scan for Free Fun: Check local listings for subsidized classes, outdoor concerts, and "pay what you can" events. Even dress rehearsals can be hidden gems at a discount. Money Traps to Avoid: 1. Subscription Creep – Set reminders to cancel trials. They add up faster than your grocery bill in the frozen aisle. 2. Silent Statement Siphons – Monitor your monthly expenses. Cut out what doesn’t bring joy or value. 3. Lifestyle Drift – Just because you can spend, doesn’t mean you should. You don’t need another air fryer. 4. Over-Gifting – Love isn’t measured in Amazon orders. The best gift is your time, or your famous banana bread. 5. Retail Therapy – If it’s cheaper than therapy, it’s probably just a distraction. But that doesn’t mean it’s helpful therapy. 6. Impulse Upgrades – Your current phone may be a few years old—but so are you, and you’re still fabulous. Your toaster doesn’t need Bluetooth, and neither do your socks. Physical Hacks: Train Like You Really Mean It The book ‘Younger Next Year’ (thank you, Bill P. and Steven H.) offers a wake-up call: Life is a test of endurance. Prepare yourself for it.  In retirement, fitness isn’t just a hobby — it’s your new full-time job. And this job offers better hours, no toxic bosses, and a dress code that includes spandex. Fitness Hacks That Work 1. Schedule it: If it’s not on the calendar, it’s not happening. Even better, set a recurring date with a friend. Accountability is appealing. 2. Make it enjoyable: Not feeling spin class? Skip it. Try Zumba, power walking, or even disco gardening. Move as if no one’s watching (even if your neighbour is). 3. Start where you are: Don’t join Advanced Pickleball if your last workout was chasing a runaway dog in 2017. 4. Make It Social: Grab a friend or make new ones—bonus points for post-sweat smoothies and commiseration. 5. Keep Commitments (Especially to Yourself): Be a “serious person,” as Logan Roy would say. If you schedule a walk, show up—even if you’re in Crocs and a hoodie. 6. Track progress, not perfection: Count steps, not pounds. Celebrate consistency. Aim for “better than yesterday,” not “six-pack by September.” Fitness Traps to Avoid: 1. Choosing Something You Hate: If you dread it, you’ll ditch it. Guaranteed. 2. Overestimating Your Ability or Availability: Planning to run a marathon in 30 days after a decade on the couch? That’s... aspirational. 3. Overpaying for Motivation: Fancy gym + guilt ≠ results. Try a budget-friendly gym, or even YouTube workouts in your living room. 4. Ignoring Recovery: If you can’t walk after leg day, you’re doing it wrong—stretch, hydrate, nap. Repeat. 5. All-or-Nothing Thinking: Missing one workout doesn’t mean the week’s a write-off. Perfection is the enemy of progress. 6. Comparing Yourself to 30-Year-Olds on Instagram: Just… don’t. Unless you want to feel bad in high def. 7. Try "Fitness Snacking" Squats while the kettle boils. Do wall push-ups before brushing your teeth. Have a dance break during Jeopardy. Movement matters. 8. Stretch Before Bed Nightly stretches improve sleep and help you wake up feeling refreshed. It’s five minutes that pay dividends. Emotional Hacks: Mindset Is Your Muscle This is the part they don’t teach in school—or even in yoga class. Emotional health is what sustains you when the stock market tanks, your golf swing falters, or the kids “forget” to call. Emotional Hacks to Try 1. Upgrade Your Self-Talk: You hear your voice more than anyone else’s. Make it kind. Make it constructive. 2. Be Your Own Biggest Fan: Self-love isn’t arrogance. It’s survival. 3. Treat Yourself Like a Dear Friend: Would you tell your best friend she’s lazy, useless, and past her prime? No? Then stop saying it to yourself. 4. Forgiveness: Begin with yourself. Write that forgiveness letter, see a therapist, cry it out. Let go. No one leaves here flawless. 5. Basic Self-Care: Feed your body with wholesome food, ensure proper rest, and maintain regular grooming. Yes, plucking your chin counts. 6. Gratitude: morning and night. Focus on one thing you’re grateful for each day. It’s better than Botox. 7. Practice "Mental Hygiene" meditation, journaling, or a walk without your phone. It's like flossing for your nervous system. 8. Try Five-Minute Journaling: “What made me smile today?” “What felt hard?” “What do I want more of tomorrow?” Answer honestly—no grammar police. Emotional Traps to Avoid 1. Negative Self-Talk: There is zero upside. Science backs this up—positive self-talk improves performance and wellbeing. Try this: “Today wasn’t my best. I was tired and snappy. I’ll apologize and do better tomorrow.” or “I know I can do this. I need to practice and be patient with myself.” 2. Not Making Yourself a Priority: The oxygen mask rule is absolute. If you don’t take care of yourself, you can’t help anyone else. 3. Self-Medicating with Booze, Bingeing, or Buying: Feel the feelings. Don’t dodge them with Chardonnay or Amazon. 4. Righteousness Addiction: Would you rather be right or be happy? Being “right” is expensive—emotionally, physically, and energetically. 5. All-or-Nothing Perfectionism: Perfection is a myth—and frankly, a boring one. Flaws are where the fun and growth live. 6. Regret. Let’s face it, regrets are a part of life. The trick is not to dwell on them. Don’t store them in Samsonite to pull out whenever we want to beat ourselves up! Ever notice that the windshield on your car is much bigger than the rearview mirror? Read that again. The Social Capital Audit You are more than your RRSP and Fitbit stats. What do you bring to the table? Your kindness? Humour? Lived wisdom? A killer lemon loaf? Whatever it is—own it. Hone it. Make it your signature. Whether you’re the neighbourhood listener, laughter-bringer, or human glue-stick, your contribution matters. What Are You Proud Of… and Is It Still Serving You? Maybe once upon a time, you were known for your hair, your legs, your singing voice, or your abs of yesteryear. But here's the truth: gravity always wins. And that’s not failure—it’s biology. So if you’re still starting sentences with “Back in my day…”, you might be overdue for a mindset update. Choose something new to feel proud of now: your resilience, your sense of humour, your garden, or your ability to FaceTime your grandkid without accidentally hanging up.  Adjust the metric. Celebrate the upgrade. Some Mantras for the Journey • “Done is better than perfect.” • “I am doing the best I can, and that’s enough.” • “Every day is a fresh start (even if my back cracks getting out of bed).” • “Progress, not perfection.” • “I am not too old, and it’s not too late.” • “If not now… when?” • “Stop acting my age.” The Final Hack: Don’t Just Celebrate – Throw Confetti Practice makes progress. And progress, my friends, is where the magic lives. Every step matters. Every stumble adds a twist. Perfection is overrated. Progress is the new gold standard. And as Mel Robbins reminds us: “There will be many people who won’t appreciate your value. Make sure you’re not one of them.” You’ve spent your life caring for others. Now it’s your turn to care for yourself—thoughtfully, warmly, and with plenty of good humour.  Retirement isn’t the end. It’s the ultimate reboot. Be the Jean Smart of your own story. Jean, watch your back... and Kuzukai, watch our money. Star power meets allowance power. Don’t Retire…Re-Wire! Sue

#Expert Research: The Use of AI in Financial Reporting

Artificial intelligence (AI) is developing into an amazing tool to help humans across multiple fields, including medicine and research, and much of that work is happening at Emory University’s Goizueta Business School. Financial reporting and auditing are both areas where AI can have a significant impact as companies and audit firms are rapidly adopting the use of such technology. But are financial managers willing to rely on the results of AI-generated information? In the context of audit adjustments, it depends on whether their company uses AI as well. Willing to Rely on AI? Cassandra Estep, assistant professor of accounting at Goizueta Business School, and her co-authors have a forthcoming study looking at financial managers’ perceptions of the use of AI, both within their companies and by their auditors. Research had already been done on how financial auditors react to using AI for evaluating complex financial reporting. That got Estep and her co-authors thinking there’s more to the story. “A big, important part of the financial reporting and auditing process is the managers within the companies being audited. We were interested in thinking about how they react to the use of AI by their auditors,” Estep says. “But then we also started thinking about what companies are investing in AI as well. That joint influence of the use of AI, both within the companies and by the auditors that are auditing the financials of those companies, is where it all started.” The Methodology Estep and her co-authors conducted a survey and experiment with senior-level financial managers with titles like CEO, CFO, or Controller – the people responsible for making financial reporting decisions within companies. The survey included questions to understand how companies are using AI. It also included open-ended questions designed to identify key themes about financial managers’ perceptions of AI use by their companies and their auditors. In the experiment, participants completed a hypothetical case in which they were asked about their willingness to record a downward adjustment to the fair value of a patent proposed by their auditors. The scenarios varied across randomly assigned conditions as to whether the auditor did or not did not use AI in coming up with the proposed valuation and adjustment, and whether their company did or did not use AI in generating their estimated value of the patent. When both the auditor and the company used AI, participants were willing to record a larger adjustment amount, i.e., decrease the value of the patent more. The authors find that these results are driven by increased perceptions of accuracy. It’s not necessarily a comfort thing, but a signal from the company that this is an acceptable way to do things, and it actually caused them to perceive the auditors’ information as more accurate and of higher quality. Cassandra Estep, assistant professor of accounting “Essentially, they viewed the auditors’ recommendation for adjusting the numbers to be more accurate and of higher quality, and so they were more willing to accept the audit adjustment,” Estep says. Making Financial Reporting More Efficient Financial reporting is a critical process in any business. Companies and investors need timely and accurate information to make important decisions. With the added element of AI, financial reporting processes can include more external data. We touched on the idea that these tools can hopefully process a lot more information and data. For example, we’ve seen auditors and managers talk about using outside information. Cassandra Estep “Auditors might be able to use customer reviews and feedback as one of the inputs to deciding how much warranty expense the company should be estimating. And is that amount reasonable? The idea is that if customers are complaining, there could be some problem with the products.” Adding data to analytical processes, when done by humans alone, adds a significant amount of time to the calculations. Research from the European Spreadsheets Risks Interest Group says that more than 90% of all financial spreadsheets contain at least one error. Some forms of AI can process hundreds of thousands of calculations overnight, typically with fewer errors. In short, it can be more efficient. Efficiency was brought up a lot in our survey, the idea that things could be done faster with AI. Cassandra Estep “We also asked the managers about their perspective on the audit side, and they did hope that audit fees would go down, because auditors would be able to do things more quickly and efficiently as well,” Estep says. “But the flip side of that is that using AI could also raise more questions and more issues that have to be investigated. There’s also the potential for more work.” The Fear of Being Replaced The fear of being replaced is a more or less universal worry for anyone whose industry is beginning to adopt the use of AI in some form. While the respondents in Estep’s survey looked forward to more efficient and effective handling of complex financial reporting by AI, they also emphasized the need to keep the human element involved in any decisions made using AI. What we were slightly surprised about was the positive reactions that the managers had in our survey. While some thought the use of AI was inevitable, there’s this idea that it can make things better. Cassandra Estep “But there’s still a little bit of trepidation,” Estep says. “One of the key themes that came up was yes, we need to use these tools. We should take advantage of them to improve the quality and the efficiency with which we do things. But we also need to keep that human element. At the end of the day, humans need to be responsible. Humans need to be making the decisions.” A Positive Outlook The benefits of AI were clear to the survey participants. They recognized it as a positive trend, whether or not it was currently used in their financial reporting. If they weren’t regularly using AI, they expected to be using it soon. I think one of the most interesting things to us about this paper is this idea that AI can be embraced. Companies and auditors are still somewhat in their infancy of figuring out how to use it, but big investments are being made. Cassandra Estep “And then, again, there’s the fact that our experiment also shows a situation where managers were willing to accept the auditors’ proposed adjustments. This arguably goes against their incentives as management to keep the numbers more positive or optimistic,” Estep continues. “The auditors are serving that role of helping managers provide more reliable financial information, and that can be viewed as a positive outcome.” “There’s still some hesitation. We’re still figuring out these tools. We see examples all the time of where AI has messed up, or put together false information. But I think the positive sentiment across our survey participants, and then also the results of our experiment, reinforce the idea that AI can be a good thing and that it can be embraced. Even in a setting like financial reporting and auditing, where there can be fear of job replacement, the focus on the human-technology interaction can hopefully lead to improved situations.” Cassandra Estep, is an assistant professor of accounting at Goizueta Business School, and a co-author of the forthcoming study looking at financial managers’ perceptions of the use of AI. She's available to speak about this important topic - simply click on her icon now to arrange an interview today.

What's Your Retirement Plan B?

Chances are, you have seen the ups and downs in the financial markets, which can really cause seniors a lot of anxiety when looking at those portfolio statements. Add to that the ripple effects of the Canada-U.S. trade war, and it’s more essential than ever to have a Plan B. The Trade War Is Personal The Canada-U.S. trade tensions may appear to be a political issue, but their repercussions are directly impacting kitchen tables across the country. Inflation is increasing the cost of everyday essentials, while investments—on which many retirees depend for income—are suffering.  For those who cannot easily re-enter the workforce, this situation is more than just inconvenient. It’s stressful. Withdrawing investments during a market dip can permanently reduce your savings. Meanwhile, rising prices on everything from apples to arthritis medication stretch fixed incomes thinner than ever. This isn’t just about budgeting anymore —it's about building a wise financial safety net. Plan B Matters More in Retirement You’ve worked hard to reach this point. Retirement should be about freedom, not fear. However, having a backup plan is essential since there are limited ways to generate new income. Think of Plan B as your financial airbag — something you hope you never need, but you're grateful it's there when life encounters a bump. And let’s be honest: even the most well-padded retirement can use a little backup when the economy’s doing somersaults. The Simple Economics of Cashflow Managing your finances boils down to a straightforward equation: money in versus money out. Think of it as balancing a seesaw—on one side, you have your income (cash in), and on the other, your expenses (cash out). For seniors, especially those on a fixed income, keeping this balance is crucial. Boosting Your Income Even in retirement, there are ways to add a little extra to your “money in” side. This could be through part-time work, turning a hobby into a small business, or renting out unused space in your home. Every additional dollar earned can provide more breathing room in your budget. Another option for many Canadians, is right under their feet—their homes. Home equity can be a powerful tool, giving them access to funds without selling or downsizing. Here are some practical options you may want to consider: Home Equity Line of Credit (HELOC): If you qualify, a HELOC offers flexible access to funds and charges interest only on the amount you use. It’s perfect for short-term needs or emergency access. Remember, you’ll need to make monthly payments and provide proof of income to qualify. Manulife One is a creative and customizable solution that combines your mortgage, income, and savings into a single account. It allows you to borrow against your home with greater flexibility. Payments are required but can be made within the available limit. Qualifying is similar to a HELOC. Reverse Mortgage: For homeowners aged 55 and older, a reverse mortgage allows you to access your home equity without the need for monthly payments. The loan is repaid when you sell or move, providing you with freedom and cash flow while remaining in your home. These tools can help ensure you're not forced to withdraw from investments during market downturns, letting your money recover while you stay comfortable. Trimming Your Expenses On the flip side, reducing your “money out” can be equally, if not more, effective. Perhaps you have subscriptions you no longer use for streaming services or mobile phone plans. Or you find you are purchasing too many items at the store because you aren’t preparing a list. Or you are dining out multiple times a week. Remember, every dollar you don’t spend is a dollar saved. Let’s unpack this a bit more, looking at this from a tax perspective Understanding the After-Tax Advantage of Cost Reduction For seniors supplementing their income with part-time work, it’s crucial to recognize that reducing expenses can be more impactful than earning additional income, primarily due to the effects of taxation. For example, let’s consider part-time income at a marginal tax rate of 30%. -------------------------------------------------------------------------------------------------- • To have an extra $100 in your pocket after taxes, you’d need to earn approximately $142.86 before taxes. This is because 30% of $142.86 is $42.86, leaving you with $100 after tax. • Conversely, if you reduce your expenses by $100, you effectively save the full amount. There’s no tax on money you don’t spend. Why This Matters: Every dollar saved is equivalent to more than a dollar earned when considering taxes. This means that focusing on cost-saving measures can be a more efficient strategy for improving your financial situation than seeking additional taxable income. 3 Major Strategies to Help You Cut Costs Budgeting: Prioritize identifying and eliminating unnecessary expenses. Regularly review subscriptions, dining habits, and utility plans to find areas where you can cut back. Smart Shopping: Utilize discounts, loyalty programs, and bulk purchasing options to reduce spending on essentials. Tax Planning: Be aware of how additional income might affect your tax bracket and eligibility for income-tested benefits. Sometimes, earning more can inadvertently reduce certain government benefits. Saving Smart – Some Tips to Get Started Your Plan B doesn’t have to focus solely on earning more income or borrowing. Sometimes, the best backup plan begins with cutting the extras. Think of it as being retro cool — just like you were before it became trendy. Tip #1: Rethink Dining Out - A Once-A-Week Treat, Not a Routine I love to dine out. It’s great to leave the cooking to someone else, especially after a busy day. But this is also one of the fastest ways to drain your budget. In Toronto, the average cost of a casual dinner for two with wine is around $90–$120. Opt for a more upscale spot? You’re likely looking at $150+ after tax and tip. Savings Tips • Cutting out one dinner per week could save approximately $400–$500/month or $5,000–$6,000/year. • Think about hosting a monthly dinner with friends at home where everyone brings a dish. You’ll still enjoy social time—but for a fraction of the cost. Or maybe try organizing a game night. Perhaps it’s euchre or cribbage, or maybe charades they all have something in common (they don’t require a monthly fee). Organize a potluck to bring people together. Twister might be off the table (unless your chiropractor is on standby), but laughter and connection are always in season. • Also think about how you can share resources. From ride-shares to splitting bulk grocery purchases with a neighbor, the old-school approach of sharing is making a comeback. It’s like carpooling, but with avocados and streaming passwords. Tip #2 Review Your Subscriptions - What are you Really Using? Have you already binge-watched all the episodes of your favourite shows, but you are still paying for streaming services you haven’t used in months? Then it’s time to cancel some subscriptions. According to the Convergence Consulting Group The average Canadian household now spends $70–$90/month on streaming and digital services (Netflix, Disney+, Prime Video, Spotify, etc.). Many people are paying too much for mobile. According to the CRTC, the average Canadian pays $64/month for mobile service.  Seniors who negotiate can often reduce this to $35–$45/month—a 30–40% savings. Savings Tips: • Audit Your Subscriptions: Write down every monthly and yearly subscription you have. Even cutting or optimizing 2 or 3 could save $30–$50/month. • Cancel subscriptions you don’t use often. You can always resubscribe later. Instead of paying for four platforms and using a few, consider rotating through them one at a time. You’ll be surprised at how quickly you can catch up on your favorites. Many streaming platforms also offer free trials or cheaper, ad-supported versions. • Call Your Mobile Phone & Internet Carrier Once a Year. Most people don’t realize how much loyalty can cost them. New customers often get much better deals than long-standing ones. When you call, here are some questions to ask: “Am I on the best plan for my usage?” “Are there any promotions I qualify for?” “Can I get a loyalty discount?” “Do you offer special discounts for seniors?” Keep in mind there are also senior-specific mobile plans from carriers like Zoomer Wireless, Public Mobile, or SpeakOut. • Don’t be shy about taking your business elsewhere. Carriers don’t want to lose subscribers and have special offers designed to make you want to stay. You’d be surprised how quickly they "find" a discount. Savings Tip #3: Don’t Throw Out Those Flyers and Coupons With inflation pushing up grocery prices, shopping smart matters more than ever. According to Statistics Canada, the average Canadian household now spends $1,065/month on groceries. So, it may be time to pay attention to those grocery store flyers you used to throw out. While Canadian data on potential savings is limited, US studies show that flyers and couponing can reduce costs by 10–25% for groceries and other household items if used consistently. Savings Tips: • Use apps like Flipp or visit sites like Smart Canuks to find online flyers you may have missed. • Sign up for loyalty cards to access extra discounts. One of the most popular savings programs, PC Optimum, offers frequent discounts and helps you collect points at Shoppers Drug Mart and Loblaws. Also, remember to swipe loyalty cards at the pump; many gas retailers offer discounts that can add up. • Consider shopping at stores like Walmart, which have pricing-matching policies for identical items you find advertised elsewhere. Saving Tip #4: Cut the “Daily Habits” That Add Up Remember, it’s not just the big expenses—it’s the daily ones that sneak up on you. Let’s look at a few “seemingly small” indulgences as examples: • 3 Starbucks Grande Lattes ($6.45 + tax) x 3 days/week = $1,137/year • Take-Out Lunch (for $12 + Tax) x 3 days/week = $2,115/year That’s over $3,000/year in “small” daily purchases! Savings Tips: • Prepare Meals in Advance: Cooking larger portions and planning for leftovers can minimize the temptation of ordering takeout. Planning meals and shopping with a list can prevent impulse purchases and reduce food waste. • Embrace the Home Café Trend: Investing in a quality coffee maker and brewing your own coffee can add joy to your day but also reduce your costs. • Set a Food Budget: Establishing a clear budget for dining out and groceries helps you track expenses and make more mindful spending decisions. Try allocating specific amounts to avoid overspending. Saving Tip #5: Leverage Senior Discounts if you are 60+ From transit to museums to groceries and drugstores, there are dozens of businesses that offer 10–20% off for seniors—but they don’t always advertise it. Many stores also have a set day of the week for seniors' discounts. Consider this: A $50 weekly purchase with 20% off saves $10—over $500/year. Savings Tips: • Shoppers Drug Mart has a 20% Seniors Day on Thursdays (for those 65+) • Rexall offers a 20% discount on Tuesdays • Many major retailers (e.g., Canadian Tire, Sobeys) offer senior discounts that vary by location—ask at checkout.  Cineplex has special pricing for seniors plus seasonal promos like $5 Tuesdays if you want to take the grandkids with you. Saving Tip #6: Mind Your Utilities and Insurance Reviewing these bills once a year can result in hundreds of dollars saved.  Consider switching to time-of-use electricity plans, which are offered in most areas. Check to see when cheaper rates are offered during off-peak hours, and look at using appliances such as your clothes dryer on off-peak hours.  You can also lower your insurance premiums by looking at options such as raising your deductible (if you’re comfortable with the risk). Also, look at rates offered by providers for “pay as you drive” insurance, especially if you aren’t using your car a lot. Also, if you are not bundling your home and auto insurance, you may be missing out on some savings. Saving Tip #7: Buy & Sell Online Many items we need can be found for a fraction of the cost used on platforms such as Facebook Marketplace and Kijiji. And remember, buying a used item also saves on tax. Many retirees have extra furniture, tools, collectibles, or tech they don’t need. It's now easier than ever to declutter and turn these unused items into extra cash. It’s All About Small Changes and Big Rewards Recessions are hard on everyone, but especially on those living on fixed incomes. The good news is that there are plenty of smart, manageable ways to reduce expenses without giving up all the good things in life. By becoming a more conscious consumer and checking in on your spending habits once or twice a year, you can save thousands of dollars annually—money that can be redirected toward travel, gifts for grandkids, or, if nothing else, it just may calm your nerves. Another Tip: Don’t Wait — Timing Matters If this trade war continues, housing values may dip, which means the equity you can access could shrink. Getting your Plan B in place now ensures you lock in flexibility and peace of mind before things tighten up.  Remember, it’s easier to get approved for a HELOC or reverse mortgage when you don’t urgently need it. It's better to set it up and keep it on standby than to wait until it’s too late. Talk It Out Stress develops in silence. Speak to family and friends about your concerns. They may not have all the answers, but they’ll provide emotional support — and possibly assist with paperwork or technical hurdles. If you have senior loved ones, check in and ask how they’re feeling about rising costs and uncertainty. These conversations go a long way and might even lead to better solutions. This trade war isn’t solely about economics. It involves peace of mind, dignity, and stability in retirement. While it may not be the type of Plan B that preoccupies the younger generation, it is equally important — perhaps even more so. So, take a breath. Make a plan. Get creative with your budget, and look at ways to save. Tap into your home equity if necessary, and don’t hesitate to ask for help. With the right Plan B, you can face the future with confidence — and perhaps even enjoy a little fun along the way.  Here's a handy checklist to help you get started.   Quick Wins Checklist ❏ Cancel one unused subscription ❏ Call your mobile carrier for a better deal ❏ Bring lunch instead of dining out 1x/week ❏ Use a coupon or flyer on your next grocery trip ❏ Look for a senior discount before you pay ❏ Brew your coffee at home 3 days this week ❏ Research potential discounts on your car insurance (bundling or pay-as-you-drive options) ❏ Use your clothes dryer or other appliances during off-peak hours to save on electricity Don’t Retire … Re-Wire! Sue

Five ways going green can improve your bottom line: A guide for West Midlands SMEs

As sustainability becomes a central focus for businesses across the globe, small and medium-sized enterprises (SMEs) in the West Midlands are uniquely positioned to benefit from going green. Whether you're running a corner shop, a hairdressing salon, a manufacturing operation, or any other type of small business, sustainable practices can significantly enhance your bottom line. Here are five key ways that adopting green strategies can lead to financial gains. Reduced operational costs One of the most immediate and tangible benefits of going green is the reduction in operational costs. Energy efficiency, waste reduction, and resource conservation are all areas where small changes can lead to significant savings. For instance, simply switching to energy-efficient lighting can reduce electricity bills by up to 75 per cent—a substantial saving for any business, particularly for small retailers or service providers where margins can be tight. Additionally, the UK government offers incentives to help businesses transition to more energy-efficient operations, making it easier for SMEs to invest in these changes. Join Aston University’s workshop on 18 September and take advantage of a free energy assessment for your business. Learn practical steps to audit your energy use and uncover cost-saving opportunities tailored to your specific industry needs. Access to new markets and opportunities As the UK government and local authorities push for a greener economy, there are growing opportunities for businesses that align with these goals. SMEs that adopt sustainable practices may qualify for grants, tax reliefs, and other incentives designed to support green initiatives. For example, local councils in the West Midlands have programmes such as ‘BEAS and Decarbonisation Net Zero’ aimed at helping small businesses reduce their carbon footprint, which can be especially beneficial for almost all sectors where environmental impact is a growing concern. At the workshop, we’ll delve into the funding options and partnerships available to West Midlands SMEs committed to sustainability, helping you unlock new growth opportunities. Increased marketability Consumers are increasingly favouring businesses that demonstrate a commitment to sustainability. According to a study by Nielsen, 66 per cent of global consumers are willing to pay more for sustainable goods, and this trend is evident in the UK as well. By adopting green practices, SMEs in the West Midlands can enhance their brand reputation. This can translate to increased sales, customer loyalty, and even the ability to charge premium prices for sustainable products or services. In a competitive market, your environmental credentials can be a powerful differentiator. Attend Aston University’s workshop to learn from real-life success stories and see how businesses are already turning sustainability into a competitive advantage. Long-term resilience and competitiveness Sustainability isn’t just about immediate financial gains; it’s also about future-proofing your business. As regulations around carbon emissions and environmental impact become stricter, businesses that have already integrated green practices will find it easier to comply, avoiding potential fines and disruptions. For SMEs in sectors like manufacturing, where regulatory pressures are particularly high, adopting sustainable practices now can help ensure long-term competitiveness and resilience. A prime example of this shift is the NHS, which is actively working towards a Net Zero supply chain by 2045. The NHS is urging its suppliers to adopt sustainable practices, with a strong focus on reducing carbon emissions. Businesses that fail to align with these expectations risk losing contracts and falling behind competitors who are meeting these sustainability criteria. At the workshop, you'll learn more about sustainability strategy that can keep your business competitive and resilient in an ever-changing market. Enhanced employee engagement and productivity Increasingly, employees are seeking to work for companies that align with their personal values, including a commitment to sustainability. While this trend is more pronounced among larger companies, it’s also becoming relevant for small businesses, particularly those in industries where attracting and retaining talent is competitive. According to research, 74 per cent of employees feel more fulfilled when they work for a company that is making a positive impact on the environment. For small businesses, fostering a sustainable workplace can enhance employee morale, attract top talent, and reduce turnover rates. However, the degree to which this resonates can depend on your specific workforce. In sectors like tech, professional services, or among younger employees, sustainability is often a key consideration. On the other hand, in some more traditional industries, other factors like job security and compensation might be more important, though sustainability still adds value. Sign up for our workshop to discover how your small or medium business—regardless of sector—can implement effective sustainability practices and energy efficiency strategies to drive growth. This event is open to all SMEs across the West Midlands! Click here to register now. You'll also have the opportunity to book a free energy assessment on the spot and apply for match funding of up to £100,000 to make your business more energy efficient.

Aston University expert explores sustainability in SME supply chains in new book

Professor Prasanta Kumar Dey is a co-author of Supply Chain Sustainability in Small and Medium Sized Enterprises The book provides a comprehensive roadmap for SMEs to achieve sustainable supply chains Using real world case studies, it offers practical guidance and expert insights for researchers and industry practitioners. An expert in sustainable supply chain operations and the circular economy at Aston University has co-authored a new book focused on the sustainability of small and medium sized enterprises (SMEs). Dr Prasanta Kumar Dey, professor of operations management at Aston Business School, has written Supply Chain Sustainability in Small and Medium Sized Enterprises alongside Dr Soumyadeb Chowdhury of Toulouse Business School and Dr Chrisovalantis Malesios from the Agricultural University of Athens. This comprehensive book examines the sustainability of supply chains in SMEs across developed and emerging economies. It draws on contributions from experts and examines case studies from countries including Thailand, Bangladesh, France, Spain, Austria and Greece. The book offers practical guidance for researchers and industry practitioners. It explores the trade-offs between economic, environmental and social aspects of sustainability, the current state of sustainable supply chain practices and critical success factors across various industries. The book highlights the experience of SMEs on the decarbonisation journey, from the concept to the implementation of the energy efficiency measures. This experience helps not only to standardise the customers’ journey towards decarbonisation but it also facilitates the undertaking of cost-benefit analysis for decarbonisation measures. Professor Prasanta Dey said: “Small and medium-sized enterprises are the backbone of economies worldwide. “Through this book, we aim to provide a comprehensive roadmap for SMEs to achieve sustainable supply chains, balancing economic growth with environmental stewardship and social responsibility. “The selection of the most effective enablers across facilities, operational processes and logistics for decarbonisation is made easier through the case studies of the book. “By learning from real-world case studies and expert insights, businesses can navigate the complexities of sustainability and drive impactful change. These help to develop a comprehensive reporting template for communicating energy audit outcomes to specific company for their further actions. The book also helps SMEs to develop implementation plan for decarbonisation measures. “Adopting a carbon footprint tool and business modelling technique from the book helps a decarbonization project identify energy-efficient strategies that reduce emissions and enhance economic, environmental and social performance.” You can purchase a copy of the book here.

Aston Business School announces strategic partnership with ISACA

It will help ABS graduates optimise their career potential with industry leading credentials in cyber security and risk management Aston University’s Cyber Security Innovation Centre has gained ISACA Accredited Training Organisation (ATO) status The partnership forms an Academic Centre of Excellence (ACoE) at Aston Business School. The Cyber Security Innovation (CSI) Centre at Aston University has announced a strategic partnership and the formation of an Academic Centre of Excellence with the Information Systems Audit and Control Association (ISACA). It will provide an added value for ABS graduates through taking ISACA certifications to optimise their career potential. Dr Anitha Chinnaswamy, a senior lecturer in cyber security management at the CSI Centre at Aston Business School, said: “There is an acute shortage of skills in the cyber security sector and we are delighted to be leading the field of executive education of future professionals under the recognition of a Centre of Excellence.” The CSI Centre and ISACA UK Central Chapter have been working together for the past four years, with both parties being ISACA ATOs (Accredited Training Organisations) in their own right, delivering high quality virtual and face-to-face instructor-led training which is helping delegates to achieve exam success and benefit from network membership of over 170,000 cyber professionals world wide. ISACA UK Central celebrated its 30 year anniversary in 2023. Their instructors are working consultants, with a wealth of experience as chief information security officers (CISOs), risk managers and IT audit directors, bringing the topic to life using real examples and practical knowledge. Professor Zoe Radnor, Pro-Vice-Chancellor and Executive Dean of the College of Business and Social Sciences at Aston University, said: “Taking our executive education in the cyber security direction is a strategic priority as Aston University has positioned itself as leader in digital technologies. The CSI Centre of Excellence underscores this priority.” Professor Helen Higson, deputy dean of Aston Business School, said: “The CSI Centre academics are always forward looking at the new demands in education and have created a dynamic set of postgraduate offering highly relevant in the market.” Professor Aleks Subic, Chief Executive and Vice-Chancellor of Aston University, said: “In line with our 2030 strategy focused on establishing Aston University as a leader in digital innovation, the Centre of Excellence represents an important step towards making Aston University a sector leader in cyber security.”